Stocks making the biggest moves after hours: Palantir Technologies, Ford Motor, Mattel, Clorox and more
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Yahoo
an hour ago
- Yahoo
Brazil's WEG reports Q2 earnings miss amid global volatility
SAO PAULO (Reuters) -Brazilian motor maker WEG on Wednesday reported a 10.4% year-on-year rise in its second-quarter net profit, but missed market forecasts amid what it called elevated volatility in global economics. The lower-than-expected figures raise further uncertainty for WEG, which analysts have cited among the companies most exposed to the 50% tariff U.S. President Donald Trump said he would impose on Brazilian goods from August 1. WEG reported a net income of 1.59 billion reais ($285.8 million) for the quarter, falling short of the 1.76 billion expected by analysts in an LSEG poll. Net revenue reached 10.2 billion reais, a 10.1% year-on-year increase, while core earnings as measured by EBITDA rose 6.5% to 2.26 billion reais. Analysts expected them to come in at 11.16 billion and 2.49 billion reais, respectively. WEG said the year-on-year growth was explained by a "solid performance" in the transmission and distribution infrastructure side of its long-cycle business, which makes equipment used in large projects such as transmission lines. "We were able to maintain the consistent growth and profitability of our businesses, even in a global political and economic scenario marked by uncertainty and high volatility," WEG's management said in a statement. The firm's closely watched EBITDA margin, nonetheless, fell by 80 basis points year-on-year to 22.1%. The company did not specifically address Trump's threatened tariffs, but reiterated confidence in its business model over the long-term, saying that it has financial flexibility as it continues to monitor market risks. "Our global production presence, diversified product portfolio and presence in many segments are fundamental to our business strategy, and allow us to quickly react to changing scenarios and mitigate possible macroeconomic impacts," it said. WEG has plants in over a dozen countries, including the United States and Mexico. ($1 = 5.5643 reais)
CNBC
an hour ago
- CNBC
This AI-powered software stock could jump another 25%, Guggenheim says
AI-powered Dynatrace is a turnaround story that's building on a strong start to the current fiscal year that ends next March, according to Guggenheim Securities. Analysts led by Howard Ma upgraded shares to buy from neutral and introduced a $66 price target. That implies the stock — down this year but ahead nearly 20% in the past three months — could gain another 25.5% over the next 12 months. Dynatrace, a Boston-based developer of software intelligence platforms, is scheduled to report fiscal first-quarter results on July 30, according to FactSet data. Ma's upgrade is "based on increased confidence that key catalysts for Dynatrace's business are gaining momentum, coupled with a favorable model setup," he said in a Wednesday note to clients. "We believe DT can grow at least mid-teens over the next several years making for a sustainable Rule of 45+ company that stands to benefit from secular tailwinds," Ma said, adding that he expects the company to modestly raise its fiscal year 2026 guidance when it reports results. Dynatrace offers AI-enhanced analytics and automation to help clients monitor and optimize app performance, software development, cyber security practices and other systems infrastructure. DT 1Y mountain Dynatrace performance over the past year. According to Ma, Dynatrace's log management business should power earnings growth well into next year. Improved seasonal trends that began in April could also help drive additional upside, Guggenheim argued, adding that the company is seeing large enterprise customers begin to consolidate more tools on its platform, contributing to subscriptions growth. "Dynatrace's core APM products have been benefiting from continued application modernization, including new app development," Ma said, referring to Application Performance Management. "With a significant percentage of customers now on [Dynatrace Platform Subscription], the collective usage expansion is driving overages and early renewals, which partners say is driving significant deal size uplifts, with some in the 30-50% range (after rate card discounts), and in some cases even doubling."
CNBC
an hour ago
- CNBC
GoPro, Krispy Kreme join the meme party as Wall Street speculation ramps up
It's a new day, and meme traders have found more stocks to put on the pedestal. Reddit-obsessed retail traders targeted wearable camera firm GoPro and donut maker Krispy Kreme on Wednesday, pushing shares up 63% and 33%, respectively, in premarket trading. The cohort seemed to have already ditched their old love OpenDoor, whose shares fell another 9% following a wild speculative like OpenDoor, GoPro is also a beaten-down penny stock, trading consistently below $1 this year. Krispy Kreme is another cheap stock, selling around $4 apiece. The donut chain has 28% of its float shares sold short, while GoPro has about 10%, according to FactSet. The two stocks are heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021. "YOLO DNUT," one post on WallStreetBets reads. YOLO stands for "You Only Live Once" and is used to describe a high-risk, all-in trading strategy. The heightened speculative activity on Wall Street coincided with a record-setting rally in the broader market as investors breathed a sigh of relief amid better-than-feared tariff headlines. The S&P 500 closed at another record high Tuesday, bringing its 2025 gains to more than 7%. "We attribute the initial phase of the junk rally to removal of downside risks to U.S. GDP with passage of the OBBB bill, hopes for several Fed rate cuts between now and Y/E, stronger than expected U.S. economic data, and tariff news flow being not as bad as feared," Wolfe Research said in a note to clients.
