Midday trading saw several companies making headlines. Shares of Braze, a consumer engagement platform, rallied 16%, after it posted a non-GAAP loss of 13 cents and revenue of $101.8 million. Goldman Sachs maintained its buy rating on the stock, highlighting the potential of artificial intelligence to help the company gain market share. Analyst firm Canaccord Genuity initiated coverage on Joby Aviation and Archer Aviation with a buy rating, pointing to their long-term potential. Joby and Archer shares rose by 11% and 6.2%, respectively. Shares of Sonoma Pharmaceuticals surged 44% after the company announced an intraoperative pulse lavage irrigation treatment that could replace IV bags for some surgical procedures. Tesla and General Motors both enjoyed gains - Tesla rallied 4% and GM added 1%. This followed the companies' announcement of a partnership that would give GM access to Tesla's North America charging stations, resulting in up to $400 million in savings on GM's $750 million EV charging investment. DocuSign's shares declined 2.5%. Despite its fiscal first-quarter earnings beating Refinitiv's expectations on both the top and bottom lines, CEO Allan C. Thygesen reported caution in customer behavior. Elsewhere, Adobe's shares rose 3.4% after Wells Fargo upgraded its software stock to an overweight rating, citing AI potential. Target was down 3.3% after Citi downgraded the retail stock to neutral, expressing the opinion that sales may have peaked.
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