Kamis, 01 Desember 2022

Tech Company Rises After Massive Order

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures held steady on Thursday. There was a hefty spike late Wednesday following confirmation of a slower US rate-hiking pace from Federal Reserve Chairman Jerome Powell. China is also adopting a softer stance on COVID, with the country's top official Vice Premier Sun Chunlan saying the response is entering a new phase.

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Here's a look at the top-moving stocks this morning.

Okta, Inc. (Nasdaq: OKTA)

Okta, Inc. is up 15.53% premarket after the company's fourth quarter adjusted earnings guidance blew past expectations. Analysts expected a loss of 11 cents per share, but the American identity company posted guidance of 9 cents to 10 cents. Revenue came in at $481 million, an increase of 37% from a year ago.

 

Sonim Technologies (Nasdaq: SONM)

Sonim Technologies is up 26.05% premarket after announcing a $17 million customer order for its tablet products. Sonim expects to ship the order from the fourth quarter and into 2023, driving revenue growth over the third quarter of 2022. The new device revenue follows $13.9 million in tablets delivered in the third quarter. Overall, these revenue streams are helping Sonim expand into the broader markets.

 

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Salesforce Inc. (NYSE: CRM)

Salesforce is down 6.63% premarket after co-CEO and vice chair Bret Taylor announced he's stepping down as of January 31, 2023. Co-founder Marc Benioff will become the solo CEO. The cloud-based company topped revenue estimates for its third quarter, with $7.84 billion in revenue, yet shares fell after reducing fourth-quarter revenue guidance of $7.9 billion to $8.03 billion.

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PVH Corp. (NYSE: PVH)

PVH is up 9.56% premarket after the maker of Calvin Klein and Tommy Hilfiger offered a more positive full-year forecast. Executives said they expected full-year sales to be 'at the top end of previous guidance range,' for a decrease of around 3% year-over-year. The company also recently extended most of its licensing deals with G-III for Calvin Klein and Tommy Hilfiger wholesale women's apparel in the U.S. and Canada.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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