NetApp Inc. Surges on Upgraded Price Targets and Cloud Performance (+15%)

Shares of NetApp Inc. (NTAP) soared, with a notable increase of over 15% after analysts raised their price targets on the stock. UBS increased its target to $88 from $84 while maintaining a Neutral rating, and Deutsche Bank raised its target to $90 from $80, maintaining a Buy rating. The upgrades followed an announcement from NetApp about significant performance improvements in their cloud collaboration with AWS. The new scale-out file systems for FSx for ONTAP are expected to deliver up to nine times the storage performance of existing systems, which is a substantial enhancement for customers running high-performance applications on AWS. This news has clearly resonated with investors, reflecting confidence in NetApp's growth prospects in cloud data services.

CrowdStrike Holdings Inc. Climbs on Raised Price Target and Strong Q3 (+10%)

CrowdStrike Holdings Inc. (CRWD) experienced a 10% increase in its share price after BofA Securities raised its price target to $250 from $190, maintaining a Buy rating. The upward revision came in response to CrowdStrike's strong third-quarter performance, which exceeded analysts' expectations. The company's robust results and positive forecast for the fourth quarter underscore the sustained demand for cybersecurity solutions, bolstering investor confidence in CrowdStrike's market position and future revenue growth.

General Motors Co. Rallies on Share Buyback and Dividend Increase (+9%)

General Motors Co. (GM) shares rallied nearly 10% after the company announced plans to boost its dividend and repurchase shares. GM reinstated its full-year guidance and expects solid profits for 2023 despite the impact of a recent strike. The automaker plans to increase its common stock dividend by 33% and has announced a $10 billion accelerated share repurchase program. The positive financial outlook and shareholder-friendly moves have been well received by the market, reflecting optimism about GM's financial health and commitment to delivering shareholder value.


Jabil Inc. Shares Dip on Revised Fiscal 2024 Guidance (-13%)

Jabil Inc. (JBL) shares declined in after-hours trading following an update to its fiscal 2024 guidance. The company now anticipates Q1 revenue to be slightly below the low end of the previous range, with expectations of $8.3 billion to $8.4 billion, against analysts' expectations of $8.84 billion. For fiscal Q2, Jabil forecasts revenue between $7.0 billion and $7.6 billion, while analysts were expecting $8.16 billion. The company also reduced its fiscal 2024 revenue forecast to about $31 billion, a 7% decrease from the midpoint of its previous guidance, which was significantly higher than the Capital IQ consensus of $34.03 billion. This revised outlook has raised concerns among investors about the company's growth trajectory.

Bilibili Inc. Drops on Revenue Outlook Concerns (-8%)

Bilibili Inc. (BILI) shares fell by over 8% after the company reported that it expects its full-year 2023 revenue to be at the low end of its forecast range. The Chinese online entertainment company reported a narrower Q3 adjusted loss compared to the previous year but failed to meet analysts' expectations for the adjusted loss. The cautious revenue outlook has led to investor apprehension about the company's growth prospects amidst a challenging economic environment.

Las Vegas Sands Corp. Prices Secondary Offering (-4%)

Las Vegas Sands Corp. (LVS) announced the pricing of a secondary public offering by the Adelson family at $44.00 per share. The offering is expected to close on Friday, and the company will repurchase a portion of the shares for about $250 million. This move comes amid reports that the Adelson family is selling $2 billion of the company's stock to acquire a majority stake in the Dallas Mavericks NBA franchise. The news led to a decline in the company's shares in recent premarket activity, as investors reacted to the potential implications of the ownership change and the secondary offering.