Stocks In News: WDAY, XPEV, HZNP
3:14 pm Wednesday, November 30th, 2022
Although the cloud-computing segment represented one of the hardest hit within the broad technology ecosystem, financial and human-capital management software provider Workday (NASDAQ:WDAY) cut through the muck, surging 11% in Wednesday’s morning session. Providing the boost for WDAY stock was a strong earnings performance that beat expectations for the top and bottom lines. For the third quarter, the software vendor reported adjusted earnings per share of 99 cents atop revenue of $1.6 billion, according to CNBC. Data from Refinitiv noted that analysts anticipated EPS of 84 cents against revenue of $1.59 billion. Following the disclosure, WDAY stock gapped up and continued to incrementally add to its gains. In the early afternoon session, shares were up over 12%.
China-based electric vehicle (EV) manufacturer Xpeng (NYSE:XPEV) just released its third-quarter 2022 financial results and XPEV stock investors are buying shares like there’s no tomorrow. This is happening even though Xpeng fell short of analysts’ expectations. Instead, today’s traders are focusing on the company’s improvement in vehicle deliveries and revenue generation. It’s certainly a tough time to operate an EV business in China. Covid-19 lockdowns are hampering business activity and the EV industry is crowded and competitive.
Horizon Therapeutics (NASDAQ:HZNP) stock is rising higher on Wednesday following reports that the company is considering a buyout. According to a news release from the company, Horizon has engaged in early discussions that could result in a deal with one of three pharmaceutical companies. The companies considering a buyout of HZNP are Amgen (NASDAQ:AMGN), Johnson & Johnson’s (NYSE:JNJ) Janssen Global Services and Sanofi (NASDAQ:SNY).
