KC - Hot Stocks: PSTG NTNX rally on quarterly results; KC slides; JACK downgrade; SLI gets investment
Quarterly figures remained a key catalyst for trading in Wednesday's midday action. Pure Storage (NYSE:PSTG) and Nutanix (NASDAQ:NTNX) both posted notable gains after the release of their respective numbers. Kingsoft Cloud (NASDAQ:KC) moved the other direction on earnings news. Shares dropped after the company failed to meet expectations with its latest revenue total. In other news, Standard Lithium (NYSE:SLI) soared on news of substantial investment from Koch Strategic Platforms. Meanwhile, a bearish analyst comment sparked selling in Jack in the Box (NASDAQ:JACK). Gainers Pure Storage (PSTG) jumped 13% in midday action on better-than-expected quarterly results. Revenue advanced 37% to nearly $563M. The developer of flash-data storage products also gave upbeat guidance for Q4, predicting a top-line figure of $630M. Analysts were looking for a number closer to $602M. Meanwhile, Nutanix (NTNX) rallied after the firm's loss was narrower than analysts had projected. The cloud-software maker also predicted full-year revenue of $1.615B-$1.63B,
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Hot Stocks: PSTG, NTNX rally on quarterly results; KC slides; JACK downgrade; SLI gets investment