5 Stocks Gained 14% or More During the Nasdaq Selloff. Here Is Why
Five US stocks gained 14% to 31% on Thursday or after hours as the Nasdaq selloff sank the index 5.52%, each lifted by fresh earnings.
The selloff erased the Dow’s post-election advance on fears that a Democratic sweep could slow data-center spending, dragging Nvidia down 9% and Broadcom 10%. Cloudflare, meanwhile, fell 8.3% in the regular session before it reported.
Which Stocks Rose Inside the Nasdaq Selloff?
AppLovin (APP), a mobile advertising software firm, closed up 31.04% at $356.10, per Yahoo. Third-quarter revenue rose 55% to $2.18 billion.
Its fourth-quarter revenue outlook of $2.365 billion to $2.395 billion topped the $2.25 billion analysts expected.
However, the stock slipped 2.27% to $348.00 in after-hours trading at 5:01 p.m. ET.
Warby Parker (WRBY), an eyewear retailer, rose 22.55% after revenue climbed 10.4% to $244.7 million. The company will also open pre-orders on November 12 for its first smart glasses, built with Google and Samsung.
Separately, EPAM Systems (EPAM), an information technology services provider, gained 21.55% after adding $1.5 billion to its buyback authorization.
It expects to enter a $500 million accelerated buyback during the week of November 9, the SEC filing shows. Revenue rose 2.3% to $1.426 billion, and adjusted earnings per share climbed 14% to $3.51.
Can After-Hours Winners Hold Their Gains?
In contrast, Cloudflare (NET), an internet security and infrastructure company, jumped at least 14% after the bell, CNBC reported. Third-quarter revenue rose 39% to $782.5 million, its fastest growth in nearly four years, according to Cloudflare.
Its fourth-quarter revenue guidance of $845 million to $846 million compared with a $798 million consensus.
JFrog (FROG), a software supply chain platform, popped 25% after raising its full-year outlook. It now expects adjusted earnings of $1.14 to $1.16 per share, according to JFrog, while FactSet analysts had forecast 98 cents.
The common thread was company-specific news landing while midterms and AI spending fears pressured the index. AppLovin’s after-hours slip shows that regular-session gains do not always carry into the evening.