Hot Stocks: ZS jumps on earnings; CTLT, TG plunge; SHOP sets 52-week high
Nikada

Ongoing concerns about the Federal Reserve and the banking sector led to a mixed performance on Monday. The S&P 500 and the Nasdaq edged higher, while the Dow posted a slight decline.
Looking at individual stocks, Zscaler (NASDAQ:ZS) was a standout, expanding its value by more than a fifth. Raised guidance prompted a wave of buying. The gainers' list also included Shopify (SHOP), which extended a recent earnings-inspired upswing to set another 52-week high.
Turning to some of the day's decliners, Catalent (CTLT) lost more than a quarter of its value on a delayed filing and lowered guidance. Meanwhile, earnings news also put pressure on Tredegar (TG).
Standout Gainer
The release of strong guidance spurred investor interest in Zscaler (ZS), sending shares of the cloud security company higher by nearly 21%.
The company predicted Q3 revenue of $415M-$419M, above the $396M-$398M that the firm had previously projected. ZS also raised its full-year targets.
"We had a strong finish to the quarter as the high ROI of adopting the Zscaler Zero Trust Exchange platform continues to resonate with customers and prospects in this challenging macro environment," the company's CEO stated. "Our customer engagements are strong, and our platform continues to expand with innovations that solve our customers' real time IT challenges."
Based on the increased forecast, ZS jumped $18.46 to close at $107.92. With the advance, the stock came further off a 52-week low of $84.93 reached last week. Shares are now down about 2% for 2023. 
Standout Decliner
Catalent (CTLT) plummeted nearly 26% after the company delayed the filing of its Q3 results. The drug contractor also slashed its outlook for revenue and adjusted EBITDA.
On the delayed submission, the firm said it identified certain potential non-cash adjustments related to its operations in Bloomington, Indiana. "We are dissatisfied with our recent results and are taking the necessary steps to address the issues that negatively impacted our performance, which fell well short of our prior projections," the company's CEO stated.
CTLT finished Monday's trading at $35.46, sliding $12.29 on the day. The stock also reached an intraday 52-week low of $34.37. Overall, shares have retreated 47% in the past month. 
Notable New High
Shopify (SHOP) added to a post-earnings rally staged late last week, climbing another 4% and establishing a fresh 52-week high.
SHOP climbed $2.35 to close at $64.38 after touching an intraday 52-week high of $65.13. This followed a surge late last week, with a 24% jump on Thursday and a further 8% advance on Friday.
Last week's gains came after SHOP beat projections with its Q1 results, including revenue that surged 26% from last year. Overall, shares of the e-commerce platform have climbed 42% in the past month and 80% since the end of 2022.
Notable New Low
Tredegar (TG) declined to a new 52-week low on weak quarterly results. Shares slumped 15%.
The maker of plastic films and aluminum extrusions reported quarterly net income from ongoing operations, which exclude special items, that dropped from last year. Adjusted EBITDA declined as well, hurt by comparison to an "abnormally strong" period last year. 
"Our businesses and markets continue to suffer from a significant slowdown that has been exacerbated by customer inventory corrections, which has resulted in excessive inventory levels for us, too," the firm's CEO reported.
Weighed down by the financial figures, TG dropped to an intraday 52-week low of $7.77. Shares recovered a bit by the close but still finished at $7.99, a decline of $1.43 on the session.

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