Three Bullish US Stocks Gapped Higher: $VNE $NTNX $HIBB – Wire Real Estate

Three Bullish US Stocks Gapped Higher: $VNE $NTNX $HIBB




Sep 1, 2020

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Veoneer Explodes on Qualcomm Partnership

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Veoneer Inc. (NYSE:VNE) bounce back to 2020 highs is almost complete on the stock gapping by more than 11%. The spike came as investors reacted to the company teaming up with Qualcomm to develop scalable Advanced Driver Assistance Systems.

Powered by Veoneer next generation perception and driving software stack, the system will address the growing complexities associated with advanced driver assistance. Qualcomm is to make the integrated Sock and software stake available to global automakers.

Veoneer has also been edging higher on reaching an agreement to divest its U.S brake control business. The divestment will allow the company to achieve significant reductions in negative cash flows.

Nutanix Gaps Higher On Stellar Quarterly and Full Year Earnings

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Nutanix Inc. (NASDAQ:NTNX) gapped higher 9.6% as the global leader in cloud software, and hyper-converged infrastructure solutions reported impressive fourth-quarter and fiscal 2002 financial results.

Revenues in the quarter were up 9% to $327.9 million as demand for cloud offerings edged higher in the wake of working from home push owing to the COVID-19 pandemic. Gross margin improved to 79.6% from 77% a year earlier .Net loss shrunk to $0.93 a share from $104 a share reported a year earlier.

For the full year, revenue came in at $1.31 billion, up 6% year over year as gross margin rose to 78.1% from 75.4% a year earlier. According to the Chief Executive Officer, Nutanix continues to demonstrate growth amidst a challenging Woking environment owing to COVID-19 on annual billings surging to $1.6 billion.

Hibbett Sports Gaps Higher As Sales Explode

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Hibbett Sports, Inc. (NASDAQ:HIBB) stock gapped by more than 7% after the athletic retailer swung to a second-quarter profit, and sales came in better than expected in what was believed to be a challenging quarter.

The company reported a net profit of $40.4 million or $2.38 a share, up from a net loss of $8.8 million or 49 cents a share. Sales nearly doubled, coming in at $441.6 million compared to $252 million reported last year. The same-store sales increased by 79.2% as e-commerce sales more than tripled.

Sales growth can be attributed to, among other things, pent-up-consumer demand as well as temporary and permanent competitor store closures as well as government stimulus money. In a bid to strengthen customer-centric strategic growth, Hibbett Sports has formed a new field leadership team led by industry veteran Mike Longo and CEO Ben Knighten

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