MARKET HIGHLIGHTS
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market highlights
GOOD WEEK
Elastic (ESTC +36.4%) stock surged as the data software company beat earnings expectations, with a great year on year sales increase. Generative AI interest, strong cloud sales, and strategic acquisitions fuelled investor optimism.
UiPath (PATH +26.72%) stock jumped post a stellar Q3 earnings report. UiPath is a software company specializing in robotic process automation. This involves using software robots to automate repetitive and rule-based tasks within business processes. UiPath's platform enables organizations to streamline workflows, increase efficiency, and reduce human intervention in routine tasks by automating them through its software robots.
BAD WEEK
Pfizer (PFE -5.21%) shares fell as it halted a two-dose obesity treatment study due to high side effects, focusing on a single-dose option. This setback hindered its entry into the weight-loss drug market.
Marvell Technology Group Ltd. (MRVL -5.26%) shares slid in premarket trading following a dip in Q3 revenue. Earnings per share met expectations, but data center revenue declined compared to the previous year. Marvell Technology specializes in semiconductor development and production.
WHAT ELSE HAPPENED
VF Corp. (VFC) shares rose as it laid off 500 employees amid consumer spending slowdowns. VF Corp is a major global apparel company, owning brands like The North Face and Vans, with a diverse product range.
Paramount Global (PARA) shares of the entertainment company jumped on reports it is in talks to bundle its streaming service with Apple’s (AAPL) AppleTV+.
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