{"id":64105,"date":"2023-09-21T17:50:12","date_gmt":"2023-09-21T21:50:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/splunk-cisco-charles-river-fedex-d-r-horton-kb-home-klaviyo-and-more-market-movers\/"},"modified":"2023-09-21T17:50:12","modified_gmt":"2023-09-21T21:50:12","slug":"splunk-cisco-charles-river-fedex-d-r-horton-kb-home-klaviyo-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64105","title":{"rendered":"Splunk, Cisco, Charles River, FedEx, D.R. Horton, KB Home, Klaviyo, and More Market Movers"},"content":{"rendered":"
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<\/p>\n<\/figure><\/div>\n

Stocks fell Thursday\u00a0<\/strong>after the Federal Reserve held interest rates steady but signaled that one more quarter-point rate hike was possible this year. The central bank also projected rate cuts in 2024, but not as many as it previously did. The Bank of England also left interest rates unchanged in a surprise move.<\/p>\n

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

\n

\n Splunk
\n (ticker: SPLK) shares soared 21% to $144.43 after networking equipment maker
\n Cisco Systems
\n (CSCO) said it would acquire the cybersecurity and data analytics software company for $157 a share in cash. The deal has an enterprise value of about $28 billion.
\n Cisco
\n stock fell 3.9%. <\/p>\n

\n Charles River Laboratories
\n (CRL) fell 5% after the contract pharmaceutical research company slashed its three-year revenue and margin targets but maintained its fiscal-year guidance. <\/p>\n

\n FedEx
\n (FDX) shares rose 4.5% after the shipping company reported fiscal first-quarter earnings that beat analysts\u2019 estimates. Operating margins improved as management cut costs.
\n FedEx
\n also boosted its fiscal-year guidance, saying it expects an adjusted profit of $17 to $18.50 a share, up from its previous forecast of $16.50 to $18.50.\u00a0Rival
\n United Parcel Service
\n (
\n UPS
\n ) was down 1.4%.<\/p>\n

\n Travere Therapeutics
\n (TVTX) shares plummeted 41% after the biopharmaceutical company said its kidney-disease treatment had mixed results in a trial. William Blair downgraded the stock to Market Perform from Outperform. <\/p>\n

\n News Corp
\n (NWSA) and
\n Fox
\n (FOX) gained 1.3% and 3%, respectively, following the announcement that Rupert Murdoch was leaving his role as chairman of both companies. His son Lachlan Murdoch will take over.<\/p>\n

\n D.R. Horton
\n (DHI) and
\n KB Home
\n (KBH) fell\u00a0<\/strong>3.7% and 4.3%, respectively, as data showed home prices climbed in August while sales dwindled. <\/p>\n

Separately,
\n D.R. Horton
\n named Paul J. Romanowski as president and chief executive, effective Oct. 1. He will succeed David V. Auld, who will become executive vice chairman of the board.
\n KB Home,<\/span>
\n meanwhile, posted better-than-expected fiscal third-quarter earnings and raised its fiscal-year revenue forecast. <\/p>\n

\n Broadcom
\n (AVGO) was down 2.7% following a report that said
\n Broadcom\u2019s<\/span>
\n long-term deal to supply artificial-intelligence chips to
\n Alphabet
\n \u2018s Google (GOOGL) was in jeopardy.
\n Google
\n said it sees \u201cno change in our engagement\u201d with the company. <\/p>\n

\n CrowdStrike Holdings
\n (CRWD) fell 0.8% after the cybersecurity company announced at a briefing at Fal.Con that it was raising its new target model of subscription gross margin to 82%-85% of revenue, up 400 basis points. It raised its operating margin target to 28% to 32%, up 900 basis points. The company said the time frame for meeting those targets was three to five years.<\/p>\n

\n Klaviyo
\n (KVYO)\u00a0<\/strong>closed up 2.9% to $33.72. The Boston-based marketing-software company had opened for trading Wednesday at $36.75, up 23% from the initial offering price of $30.<\/p>\n

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

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

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