Hot Stocks: ZS jumps over 10%, DWAC also gains, SPCE slides on downgrade, AOUT falls on earnings
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Zscaler, Inc. (NASDAQ:ZS) gained more than 10% in premarket trading after the company topped its latest earnings report and delivered strong forward guidance. Digital World Acquisition Corp. (NASDAQ:DWAC) also is in the green as it adjourned a shareholders vote until Oct. 10.
On the other end of the spectrum, shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) declined as the company was downgraded. American Outdoor Brands, Inc. (NASDAQ:AOUT) also came down as it missed on its latest earnings report.
Gainers
Zscaler, Inc. (ZS) popped 14.1% after the company reported fourth-quarter results that surpassed expectations and issued strong guidance for the new fiscal year. Excluding one-time items, Zscaler said it earned $0.25 per share on $318.06M in revenue, compared to estimates of $0.21 per share on $305.54M in revenue.
Digital World Acquisition Corp. (DWAC) moved higher by 4.1% on Friday morning as DWAC adjourned a shareholders vote on a merger until Oct. 10.
Decliners
Virgin Galactic Holdings, Inc. (SPCE) dipped 2.5% in premarket trading on Friday after Bernstein dropped its rating on the stock. Bernstein changed its rating to Underperform from Market Perform after the space tourism company extended its commercial service timeline once again.
American Outdoor Brands, Inc. (AOUT) is in the red by 6% during premarket trading after an earnings miss. AOUT delivered Q1 Non-GAAP EPS of $0.01, which fell short by $0.07. AOUT also missed on revenue by $1.41M as it posted revenue of $43.7M (-28.1% Y/Y).
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