Hot Stocks: CSCO pops on guidance, BJ and NTES rise on strong earnings, while GNUS slides
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Cisco Systems, Inc. (NASDAQ:CSCO) shares have headed to the topside after the technology conglomerate reported strong forward guidance to the investment community.
Also in the green are both BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) and NetEase, Inc. (NASDAQ:NTES) after the two reported positive Q2 earnings. On the flipside, Genius Brands International (NASDAQ:GNUS) has fallen lower into the red.
Gainers
Shares of Cisco Systems, Inc. (CSCO) jumped 5.1% during Thursdayâs premarket trading session. The company posted fourth-quarter results that topped expectations, aided by strength in services and gave strong guidance for its 2023 fiscal year. CSCO anticipates revenue for its 2023 fiscal year to fall between 4% and 6% from 2022, compared to expectations of 3.3%. 
BJ's Wholesale Club Holdings, Inc. (BJ) tracked higher by 7% early on after the stock reported strong Non-GAAP EPS and revenue for the second quarter. BJâs sported a Q2 Non-GAAP EPS of $1.06, beating estimates by $0.25. The organization also beat revenue expectations by $470M as it recorded revenue of $5.1B.
NetEase, Inc. (NTES) gained 2.7% as it also delivered solid Q2 earnings that topped Non-GAAP EPS and revenue. NTES delivered Q2 Non-GAAP EPS of $1.22 which topped forecasts by $0.17 and also beat on revenue by $70M, reporting $3.5B.
Decliner
Genius Brands International (GNUS) shares dropped 5.8% despite achieving Q2 revenue growth of 843% to a record $21.2M, compared to the same period last year.
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