Cloud Software Stocks Rip Higher After Strong Earnings from Snowflake, Others

Many enterprise software stocks are adding to their big 2020 gains on Thursday, as investors take heart in a batch of strong earnings reports that were posted on Wednesday afternoon.

Zscaler  (ZS) – Get Report is up 24.3%, Okta  (OKTA) – Get Report is up 6.9%, Snowflake  (SNOW) – Get Report is up 16%, Elastic  (ESTC) – Get Report is up 14.2% and CrowdStrike  (CRWD) – Get Report is up 15.1% after each company comfortably beat its October quarter estimates and (generally speaking) issued strong guidance. And a number of other software names appear to be catching sympathy bids.

Palantir Technologies  (PLTR) – Get Report, which tumbled yesterday on a Morgan Stanley downgrade, is up 8.8%. Smartsheet  (SMAR) – Get Report is up 6.8%, Datadog  (DDOG) – Get Report is up 4.8%, Unity

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Veeva Systems fiscal Q3 revenue and earnings top expectations, forecast higher as well, shares sag

Shares of life-sciences cloud software provider Veeva Systems traded down by 3% in late trading Tuesday despite the company reporting fiscal Q3 revenue and profit that comfortably topped expectations, and despite a forecast for next year’s revenue that was also above Street consensus.  

CEO Peter Gassner led his prepared remarks with an acknowledgement of Veeva customers that he said “are delivering innovations that will have positive, lasting impacts on human health.”

“We are proud to work with these amazing companies,” said Gassner, “providing solutions that streamline drug development and enable them to support healthcare providers on the front lines.”

Newly installed CFO Brent Bowman said he was “very pleased” with the financial results. Bowman added that Veeva “plan to continue investing aggressively to hit our 2025 targets and drive a long runway of growth beyond.”

For the three months ended in October, Veeva reported $377.5 million in revenue, up 34%,

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Why Micron Technology Stock Can Break Higher From 20-Year Highs

Shares of Micron Technology (NASDAQ: MU) have shot up to 20-year highs this fall thanks to a couple of price target upgrades by Wall Street analysts, who predict that the memory specialist has more upside to offer on the back of higher demand from data centers and 5G smartphones.

Deutsche Bank and Mizuho Securities have raised their per-share price targets to $70, indicating an upside of around 10% from Micron’s current stock price. But it wouldn’t be surprising to see the memory specialist break higher and surpass Wall Street’s expectations. Let’s see why.

MU Chart

MU data by YCharts

A favorable DRAM environment will be a tailwind for Micron

Micron Technology gets most of its revenue from the compute and networking business unit (CNBU). This segment supplied nearly 43% of Micron’s total revenue in the previous fiscal year, but its performance wasn’t good enough, as revenue fell nearly 8% over the

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Superior Sensor Technology’s New Differential Pressure Sensor Enables Higher Pulmonary Testing Range in Spirometers

SANTA CLARA, Calif., Dec. 1, 2020 /PRNewswire/ — Superior Sensor Technology today announced the SP160 pressure sensor that will enable manufacturers to cost-effectively develop spirometry equipment with more precise spirometric measurements for higher pressure range applications, such as athletes with larger lung capacity.  The SP160 is the first single sensor to support Multi-Range with four multiple programmable high pressure variants, ranging from 5K Pa to 40K Pa, with a very stable zero measurement and no degradation to performance on each variant. Other pressure sensor solutions require multiple sensors to achieve the same results, making it more expensive and time-consuming for manufacturers to develop spirometers with these higher pressure ranges. 

The SP160 is based on the company’s proprietary NimbleSense™ architecture, which is the first intelligent system-in-a-sensor that offers manufacturers a high-performance, programmable, flexible sensor solution. The SP160’s

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Look for tech stocks to come roaring back and help drive the S&P 500 higher into year-end, says this strategist

Stock investors could be forgiven for some fatigue that is showing up on Monday, the last day of what has been a blockbuster month for stocks.

The S&P 500
SPX
and Dow industrials
DJIA
are set for their best Novembers since 1928, with the Dow also set for its biggest monthly return since January 1987.

But there is still some fuel for buying for the next few weeks, says our call of the day from Adam Kobeissi, founder and editor in chief of The Kobeissi Letter.

“While we do believe that many bearish headwinds persist in this market, we no longer view short-term price action with a bearish context due to the concept of ‘market euphoria,” Kobeissi tells clients in a newsletter. “The S&P 500 has continuously driven to psychological targets, such as 3600 and a new all-time high, which can easily drive the index to 3700+.”

And while the

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Stocks edge higher on Wall Street on latest vaccine hopes

Stocks edged higher in afternoon trading Monday after investors received several pieces of encouraging news on COVID-19 vaccines and treatments, tempering concerns over rising virus cases and business restrictions

The benchmark S&P 500 index rose 0.3%, led by banks, industrial companies and other businesses that have been beaten down by the virus.

The latest vaccine developments are helping to raise hopes that some normalcy will eventually be restored to everyday life and the economy. It is also tempering lingering concerns about new government controls as the virus spikes in

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3 Cool New Products That Should Help Power NVIDIA Stock Higher

NVIDIA (NASDAQ: NVDA) is firing on all cylinders,” CEO Jensen Huang said in the graphics processing units (GPU) specialist’s Wednesday release of its fiscal third-quarter 2021 results.

That statement isn’t the type of hyperbole that regularly flows out of the mouths of top executives of publicly traded companies. It’s an accurate description of NVIDIA’s recent financial performance, which featured Q3 year-over-year sales and adjusted earnings per share jumping 57% and 63%, respectively.

Moreover, the technology powerhouse has recently launched or announced a slew of entirely new innovative products that should keep its financial performance firing on all cylinders into the foreseeable future. This, in turn, should keep powering its stock, which has gained 123% in 2020 through Nov. 20. Below are three new products investors should know about.

Video game on a computer screen in a blue- and red-lit room.

Image source: Getty Images.

NVIDIA Reflex: Helps gamers improve their reaction times

As its name suggests, NVIDIA Reflex is a suite

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Children and adolescents more likely to experience higher rates of depression and anxiety during and after enforced isolation ends — ScienceDaily

The COVID-19 pandemic has necessitated widespread social isolation, affecting all ages of global society. A new rapid review in the Journal of the American Academy of Child and Adolescent Psychiatry (JAACAP), published by Elsevier, reports on the available evidence about children and young people specifically, stating that loneliness is associated with mental health problems, including depression and anxiety-potentially affecting them years later.

The review, which synthesizes over 60 pre-existing, peer-reviewed studies on topics spanning isolation, loneliness and mental health for young people aged between 4 and 21 years of age, found extensive evidence of an association between loneliness and an increased risk of mental health problems for children and young people.

“As school closures continue, indoor play facilities remain closed and at best, young people can meet outdoors in small groups only, chances are that many are lonely (and continue to be so over time),” said lead author, Maria Loades,

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Cesarean section-born children may face higher risk of infection-related hospitalization — ScienceDaily

Children born via cesarean section may be more likely to be hospitalized for infection during early childhood. A study published in PLOS Medicine by Jessica Miller at the Murdoch Children’s Research Institute, Australia and colleagues suggests that compared to vaginally-born children, cesarean-born children may have a higher risk of infection-related hospitalization for up to five years of age.

The global proportion of cesarean section births has nearly doubled since 2000, yet the relationship between mode of birth and common childhood infections beyond the neonatal period is not well understood. To assess the association between mode of birth and infection-related hospitalization, researchers analyzed hospital data of 7,174,787 singleton children in Denmark, Scotland, England, and Australia born between January 1, 1996 and December 31, 2015. Children born during this period were followed from their birth-related hospital discharge date until an infection-related hospitalization, death, emigration, 5th birthday, or end of the study period.

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Tech stocks lead the market higher as traders weigh vaccine progress against virus concerns



a person sitting in front of a laptop computer: Lucas Jackson/Reuters


© Lucas Jackson/Reuters
Lucas Jackson/Reuters

  • Technology stocks led the market higher on Thursday, even as COVID-19 concerns lingered following New York City’s decision to transfer its school system to remote learning. 
  • A rise in daily COVID-19 cases led to an infection rate of more than 3% in New York City, which spurred Mayor Bill DeBlasio to shut down physical learning at schools on Wednesday.
  • On the economic data front, 742,000 more Americans filed for unemployment last week, more than experts had forecast. 
  • Watch major indexes update live here.

Technology stocks led the market higher on Thursday even as concerns over a surge in daily COVID-19 cases and partial lockdowns lingered.

Investors were reminded of the threat COVID-19 still poses to the US economy after New York City transitioned its school system to remote learning on Wednesday.

A continued rise in daily COVID-19 cases led to a seven-day average infection rate

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