Today's Biggest Moving Stocks Include Crowdstrike And Workday
Date
11/27/2024 10:10:34 AM
(MENAFN- Baystreet)
CrowdStrike (CRWD), a cybersecurity firm, proved that companies may turn a crisis into an opportunity. When the firm caused a global IT outage, panicked sellers thought that CrowdStrike would lose customers. They were wrong.
CrowdStrike reported revenue jumping by 28.5% Y/Y to $1.01 billion. Annual recurring revenue increased by 27% Y/Y. The firm added $153 million in net new ARR in the quarter. Despite the impressive topline results, operating income is negative. The firm reported a GAAP loss from operations of $55.7 million.
Workday (WDAY) may open down as much as 10% today after posting Q3 results. The firm posted strong subscription revenue growth, rising by nearly 16% Y/Y to $2.16 billion. Operating margin was a healthy 25.5%. The firm is focused on executing in its seasonally strongest quarter. CFO Zane Rowe said that this would lay the foundation for durable, profitable growth at scale.
In Q4, it expects revenue to increase by 17% to $7.7 billion.
In the biotechnology sector, Amgen (AMGN) faces selling pressure. The firm reported phase 2 data for its weight loss drug, MariTide. The company did not give shareholders any details on the monthly dosing. Without that data, investors cannot compare its effectiveness to other GLP-1 drugs on the market.
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