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Arm Holdings Surges on Strong Fiscal Q3 Results and Bright AI Prospects

Arm Holdings' shares skyrocketed over 59% following the semiconductor and software design company's fiscal Q3 financial results, which surpassed market expectations. The company reported a non-GAAP earnings increase to $0.29 per diluted share from $0.22 a year earlier, beating the expected $0.25. Revenue also rose to $824 million from $724 million, topping the forecast of $763 million. The positive outlook, fueled by the AI boom and strong forecasts for both fiscal Q4 and the full year, has significantly lifted the stock.

Ralph Lauren's Positive Fiscal Q3 Performance

Ralph Lauren's shares climbed more than 14% after the luxury fashion company reported fiscal Q3 results that exceeded analysts' estimates. The company posted an adjusted earnings of $4.17 per diluted share, up from $3.35 a year earlier, and above the expected $3.55. Revenue also increased to $1.93 billion from $1.83 billion, surpassing the forecast of $1.87 billion. The company's outlook for fiscal Q4 and the full year suggests continued growth.

Disney Shares Climb on Strategic Investment in Epic Games

Walt Disney's shares increased by 12%, marking the largest one-day move in over three years, after CEO Bob Iger announced a $1.5 billion investment in Epic Games. This move is aimed at integrating Disney's iconic characters into Epic's Fortnite platform, which boasts 100 million monthly players. The investment reflects Disney's strategy to engage with younger generations who spend a considerable amount of time on video games. Analysts have praised the investment as a smart strategic move that leverages Disney's strength in brand management and Epic's expertise in engaging consumers.

Monolithic Power Systems Projects Strong First Quarter on AI Demand

Monolithic Power Systems' shares rose 15% after market hours following the company's forecast for current-quarter revenue that exceeded estimates. The company is benefiting from increased demand for its power control modules used in artificial intelligence applications. Monolithic Power expects first-quarter revenue between $437 million and $457 million, surpassing the estimated $430.8 million. The company's Q4 revenue was $454 million, slightly above the expected $452.1 million, with significant growth in its enterprise data segment.

Tapestry's Strong Holiday Quarter Lifts Shares

Shares of Tapestry, the parent company of luxury brands like Coach and Kate Spade, soared 8% after reporting a strong holiday quarter that beat top- and bottom-line market expectations. The company's revenue for the fiscal third quarter rose to $1.93 billion from $1.83 billion the previous year, exceeding the average analyst estimate of $1.87 billion. Adjusted earnings per share increased to $4.17 from $3.35, surpassing the expected $3.55. Tapestry's updated full-year outlook, with an expected revenue increase of about 2%, also contributed to the stock's rise.

Confluent Shares Surge Following Analysts' Price Target Increases After Q4 Results

The designer of data infrastructure Confluent saw its stock price jump 31% as analysts raised their price targets on the stock in response to the company's Q4 results, which exceeded expectations. The company reported non-GAAP earnings of $0.09 per diluted share, a significant improvement from a loss of $0.09 a year earlier. Revenue also increased to $213.2 million from $168.7 million. The positive financial performance and the optimistic outlook provided by analysts contributed to the surge in Confluent's share price.

Microstrategy Insider Sells Shares Worth Over $2.5 Million

Microstrategy saw an insider transaction where Michael J Saylor, a 10% owner, director, and executive chairman, sold 5,000 shares for $2,501,197. This sale was disclosed in a recent SEC filing. Despite this insider sale, Microstrategy's stock price saw an increase of 12%.

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Everest Group's Stock Drops on Q4 Revenue Shortfall

Everest Group's shares fell nearly 10% as the company's Q4 revenue failed to meet analysts' expectations. Despite reporting a significant increase in earnings per diluted share, from $12.66 to $18.53, the revenue of $3.66 billion for the quarter was below the anticipated $3.73 billion. This revenue miss has led to a decline in the company's stock price.

PayPal Shares Decline 10% Amid Lower Active User Count and Tepid Growth Outlook

PayPal Holdings' shares fell by 11% after the company reported a decrease in total active accounts and projected minimal profit growth for the current year. The drop in active accounts was attributed to higher churn levels in Latin America and the Asia Pacific region. For 2024, PayPal expects adjusted earnings per share of $5.10, consistent with the previous year, indicating a cautious outlook on consumer spending and activity levels. The company is exploring new growth areas with higher margin opportunities to counterbalance the stagnant growth projections.