{"id":51241,"date":"2023-08-21T15:40:15","date_gmt":"2023-08-21T19:40:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/palo-alto-nikola-amc-xpeng-tesla-nvidia-and-more-stock-market-movers\/"},"modified":"2023-08-21T15:40:17","modified_gmt":"2023-08-21T19:40:17","slug":"palo-alto-nikola-amc-xpeng-tesla-nvidia-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51241","title":{"rendered":"Palo Alto, Nikola, AMC, XPeng, Tesla, Nvidia, and More Stock Market Movers"},"content":{"rendered":"
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Stocks were trading mostly higher Monday following the
\n S&P 500
\n \u2018s third-consecutive losing week.
\n Nvidia
\n \u2018s earnings report this week will be a highlight as will remarks from Federal Reserve Chairman Jerome Powell at the central bank\u2019s annual conference in Jackson Hole, Wyo.\u00a0<\/p>\n

These stocks were making moves Monday:\u00a0<\/p>\n

\n

\n Palo Alto Networks
\n (ticker: PANW), the cybersecurity, topped fiscal fourth-quarter earnings expectations, and its profit forecast for the first quarter also beat estimates. Palo Alto said Friday it expects first-quarter billings of $2.05 billion to $2.08 billion, up 17% to 19%. The company\u2019s fiscal 2024 forecasts for adjusted earnings and billings also were better than expectations. The stock was rising 15% and was the best performer in the
\n S&P 500.<\/span>
\n Fellow cybersecurity stocks also were trading higher, with
\n CrowdStrike
\n (CRWD) up 4.9% and
\n Zscaler
\n (ZS) up 4.3%. <\/p>\n

\n Napco Security Technologies
\n (NSSC), which makes electronic security equipment and wireless communication devices for intrusion and fire alarm systems, was falling 45% after saying it identified errors related to the calculation of cost of goods sold and inventory for each of the first three quarters of fiscal 2023.\u00a0Napco said inventories were overstated and cost of goods sold was understated \u201cresulting in overstated gross profit, operating income and net income for each period.\u201d<\/p>\n

\n AMC Entertainment
\n (AMC) fell 24% ahead of the movie-theater chain\u2019s planned stock conversion. The conversion of AMC Preferred Equity units will result in the trading of a single AMC common share class and is part of the company\u2019s battle to eliminate debt. <\/p>\n

\n Nikola
\n (NKLA) was falling 22% after the electric truck maker said it \u201cmay incur significant expenses\u201d from the voluntary recall of more than 200 of its EVs and \u201cthere can be no assurance as to when we will be able to resume production of our BEV trucks.\u201d Separately, the company announced plans to offer $325 million in senior convertible bonds in a registered direct offering. <\/p>\n

\n Earthstone Energy
\n (ESTE) was rising 13% after
\n Permian Resources
\n (PR) agreed to acquire the energy company in an all-stock transaction valued at about $4.5 billion. Permian shares gained 0.1%. <\/p>\n

U.S.-listed shares of
\n XPeng
\n (XPEV) were rising 9.6% to $16.42 after analysts at BofA raised their recommendation on the Chinese electric-vehicle maker to Buy from Neutral and lifted the price target to $22 from $16.30. The stock fell 4.3% on Friday after reporting second-quarter earnings and issuing solid third-quarter guidance. <\/p>\n

EV giant
\n Tesla
\n (TSLA) was rising 6.1%. The stock has dropped for 13 out of the past 14 days. Analysts at Baird placed the company on its list of \u201cbest ideas\u201d after second-quarter earnings. <\/p>\n

\n Nvidia
\n (NVDA) was up 6.4%. Expectations are riding high for the chip maker\u2019s earnings on Wednesday. The chip maker has found itself a key beneficiary of the investing frenzy over artificial intelligence.\u00a0<\/p>\n

\n Broadcom
\n (AVGO) rose 4.1% and
\n VMware
\n (VMW) gained 5.1% after the U.K.\u2019s Competition and Markets Authority cleared
\n Broadcom
\n \u2018s acquisition of the cloud infrastructure company.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks were trading mostly higher Monday following the S&P 500 \u2018s third-consecutive losing week. Nvidia \u2018s earnings report this week will be a highlight as will remarks from Federal Reserve Chairman Jerome Powell at the central bank\u2019s annual conference in Jackson Hole, Wyo.\u00a0 These stocks were making moves Monday:\u00a0 Palo Alto Networks (ticker: PANW), the […]<\/p>\n","protected":false},"author":1,"featured_media":18306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-51241","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nPalo Alto, Nikola, AMC, XPeng, Tesla, Nvidia, and More Stock Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks were trading mostly higher Monday following the S&P 500 \u2018s third-consecutive losing week. 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