Major benchmarks rose modestly on Tuesday, with market participants remaining optimistic as the Thanksgiving-shortened week continued. Despite a drop in consumer confidence and declining new home sales in the U.S., enthusiasm about a possible trade deal with China took center stage once again. Several individual stocks saw sharp moves higher. Nutanix (NASDAQ: NTNX), Dick's Sporting Goods (NYSE: DKS), and ChemoCentryx (NASDAQ: CCXI) were among the top performers. Here's why they did so well.
Shares of Nutanix soared over 16% after the enterprise cloud computing specialist gave upbeat results in its fiscal first-quarter financial report. Revenue rose at a modest rate of less than 1%, but that reflected Nutanix's strategic decision to shift away from one-time sales of networking components toward software that generates recurring revenue. Subscription-based revenue jumped 72% year over year, and the company closed 66 deals worth $1 million or more. With almost 15,000 customers and plans to keep enhancing its platform, Nutanix has a lot of potential growth ahead of it.
Image source: Nutanix.