Biggest stock movers today: NIO, Dell Technologies, Broadcom and more
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Following a month of losses for all three major indexes, stock futures begin September on a positive note after August payrolls showed an increase in the US unemployment rate, adding fuel to the ongoing discussion regarding the Federal Reserve's future interest rate path.
Here are some of Friday's biggest stock movers:
Biggest stock gainers

NIO (NYSE:NIO) rose over 7% after the company reported 81% Y/Y growth in August deliveries. The company delivered 12,015 premium smart electric SUVs and 7,314 premium smart electric sedans during the month.
Dell Technologies (NYSE:DELL) shares increased over 9% as a result of the company reporting better-than-expected Q2 results, reaping the rewards of artificial intelligence. "AI is already showing it's a long-term tailwind, with continued demand growth across our portfolio," said Chief Operating Officer Jeff Clarke.
Shares of Elastic (NYSE:ESTC) surged around 17% after the company outperformed expectations in Q1 and provided an upbeat outlook for Q2 and the fiscal year. CEO Ash Kulkarni said, âIn Q1, we saw growing use of Elasticsearch as a vector database and significant activity around generative AI. We are very excited about the long-term opportunity generative AI represents for Elastic.â
Nutanix (NASDAQ:NTNX) surged 19% after exceeding expectations in the fourth quarter and providing an optimistic outlook. The company anticipates Q1 revenue between $495M and $505M, up from the consensus of $487.74M, and FY2024 revenue between $2.085B and $2.115B, up from the consensus of $2.08B. In addition, the company authorized the repurchase of up to $350M in common stock, reflecting confidence in the company's long-term market opportunity and financial prospects.

Biggest stock losers

PagerDuty (NYSE:PD) slid 7% after Baird Equity Research downgraded the software company to Neutral and reduced the price target to $25 from $32, citing Q2 billings below guidance. It expects slower H2'24 growth for the company and believes a tougher H1'25 may limit upside.
Despite posting better than expected Q3 results, Broadcom (NASDAQ:AVGO) slumped around 5% on a soft outlook. The company expects Q4 revenue to be around $9.27B in line with the consensus, with an adjusted EBITDA margin of approximately 65%.


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Elastic N.V. (ESTC) Q1 2024 Earnings Call Transcript

Nutanix, Inc. (NTNX) Q4 2023 Earnings Call Transcript

Broadcom Inc. (AVGO) Q3 2023 Earnings Call Transcript

Dell Technologies Inc. (DELL) Q2 2024 Earnings Call Transcript
Broadcom declares $4.60 dividend
Broadcom Non-GAAP EPS of $10.54 beats by $0.11, revenue of $8.88B beats by $20M
Dell Technologies Non-GAAP EPS of $1.74 beats by $0.60, revenue of $22.93B beats by $2.09B
Elastic Non-GAAP EPS of $0.25 beats by $0.14, revenue of $293.75M beats by $9.28M
Compare metrics for AVGO to DELL, ESTC, NTNX