Shares of identity management software maker Okta (OKTA) jumped 22.6% in the afternoon session after the company delivered a solid fourth quarter earnings, beating Wall Street's expectations on both revenue and operating profit. A standout metric was the 25% year-on-year growth in remaining performance obligations (RPO), which exceeded analysts' estimates, and implied solid future sales as customers lock in long-term commitments.
Tesla sold 30,688 China-made vehicles in February, a 49% plunge from a year ago. The data came shortly after figures showed a plunge in European sales.
Foundation Devices CEO Zack Herbert reveals that a Trump advisor told the former president the U.S. should stockpile Bitcoin rather than let China accumulate more.
Trump-based euphoria has evaporated from the stock market as recent tariff escalations and disappointing data spark growth fears.
Aerospace and defense technology solutions provider Astronics Corporation (NASDAQ:ATRO) announced better-than-expected revenue in Q4 CY2024, with sales up 6.8% year on year to $208.5 million. Guidance for next quarter’s revenue was better than expected at $197.5 million at the midpoint, 2% above analysts’ estimates. Its GAAP loss of $0.08 per share was significantly below analysts’ consensus estimates.
Cloud content storage and management platform Box (NYSE:BOX) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 6.3% year on year to $279.5 million. On the other hand, next quarter’s revenue guidance of $274.5 million was less impressive, coming in 1.8% below analysts’ estimates. Its GAAP profit of $1.12 per share was significantly above analysts’ consensus estimates.
Heavy equipment distributor Custom Truck One Source (NYSE:CTOS) fell short of the market’s revenue expectations in Q4 CY2024, with sales flat year on year at $520.7 million. On the other hand, the company’s full-year revenue guidance of $2.02 billion at the midpoint came in 8.3% above analysts’ estimates. Its GAAP profit of $0.12 per share was significantly above analysts’ consensus estimates.
U.S. stocks tumbled on Tuesday after the Trump administration’s long-promised tariffs took effect. The tech-heavy Nasdaq ticked down 0.3%. The policy taxes imports from Mexico, Canada and China -- the three largest trading partners of the United States -- meaning that it could raise prices for everything from gasoline to avocados to iPhones.
Aerospace and defense company AeroVironment (NASDAQ:AVAV) fell short of the market’s revenue expectations in Q4 CY2024, with sales falling 10.2% year on year to $167.6 million. The company’s full-year revenue guidance of $787.5 million at the midpoint came in 5.8% below analysts’ estimates. Its non-GAAP profit of $0.30 per share was 54.8% below analysts’ consensus estimates.
Sacks' venture firm, Craft Ventures, exited its Bitwise position ahead of the new administration, according to a source close to the situation.
