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    Aug 21, 2023
    • Palo Alto Networks Inc jumped 14.5% to $242.84 after the cyber security and network infrastructure company reported better-than-expected quarterly results. 

      Revenue in the fiscal fourth quarter ending in July rose 26% to $2.0 billion and net income increased $227.7 million from $3.3 million and   diluted earnings per share jumped to 64 cents from 1 cent a year ago. 

      The company guided fiscal first quarter revenue in the range between $1.82 billion and $1.85 billion and diluted non-GAAP earnings per share between $11.15 and $1.17.  
      • Aug 17, 2023
      • Cisco Systems Inc rose 3.8% to $55.02 after the networking gear maker reported better-than-expected revenue and earnings in its latest quarter. 

        Revenue in the fiscal fourth quarter ending in July increased 16% to $15.2 billion from $13.1 billion and net income rose to $4 billion from $2.8 billion and diluted earnings per share increased to 97 cents from 68 cents a year ago. 

        For the full-year fiscal 2023, revenue increased 11% to $57 billion from $51.5 billion and net income rose to $12.6 billion from $11.8 billion and diluted earnings per share increased to $3.07 from $2.82 a year ago. 

        The networking company guided revenue in the fiscal first quarter 2024 between $14.5 billion and $14.7 billion and GAAP earnings per share between 79 cents and 84 cents.  
        • CVS Health Corp decreased 9.5% to $66.10 after Blue Shield of California dropped the company's pharmacy services. 

          The company said it will partner with Cost Plus Drug Company and Amazon pharmacy services to save drug costs for its 5 million members. 
          • Walmart Inc declined 1.4% to $156.95 despite the retailer reporting better-than-expected quarterly results.

            Revenue in the second quarter increased 5.7% to $161.6 billion and net income advanced to $7.9 billion from $5.1 billion and diluted earnings per share rose to $2.92 from $1.88 a year ago. 

            Walmart U.S. sales increased 5.7% to $110.9 billion and comparable sales excluding fuel increased 6.4% after number of transactions rose 2.9% and average ticket size increased 3.4%.  

            The company guided third quarter revenue to increase 3% and adjusted earnings per share between $1.45 and $1.50 and revenue growth in fiscal year 2024 between 4.0% and 4.5% and adjusted earnings per share between $6.36 and $6.46. 
            • Aug 15, 2023
            • Home builders were in focus after Berkshire Hathaway acquired positions in NVR, Lennar and DR Horton, according to a regulatory filing.

              DR Horton gained 2.2% to $125.97, Lennar jumped 0.6% to $124.61 and NVR gained 1.7% to $6,262.79 after the diversified conglomerate Berkshire Hathaway took stakes in home builders. 

              According to a regulatory filing with the SEC, Berkshire acquired a $726 million stake in DR Horton, $70 million in NVR and $17.2 million in Lennar.  
              • Discover Financial Services dropped 7.7% to $94.66 after the company announced the resignation of chief executive Roger Hochschild.   

                The company's board appointed John Owen as interim president and chief executive and Hochschild will remain as an advisor through the end of the year. 
                • Home Depot Inc jumped 2.2% to $126.0 after the do-it-yourself retailer reported sales declined 2% to $42.9 billion and comparable sales in the period across the company and in the U.S. declined 2%. 

                  Sales were under pressure after customers delayed bid-ticket purchases. 

                  Net income in the quarter declined 9.9% to $4.6 billion from $5.2 billion and diluted earnings per share fell to $4.65 from $5.05 a year ago. 

                  The retailer reaffirmed its 2023 sales and comparable sales to decline between 2% and 5% and diluted earnings per share to fall between 7% and 13% from a year earlier. 
                  • Aug 14, 2023
                  • U.S. Steel Corporation surged 26.9% to $28.76 after the steelmaker rejected a buyout offer of $7.3 billion from Cleveland-Cliffs over the weekend.  

                    Cleveland-Cliffs increased 2.5% to $14.99 after U.S. Steel said it is reviewing its strategic options. 
                    • Nikola Corp declined 11.3% to $1.73 after the company recalled 209 electric trucks following an independent investigation of a fire incidence. 

                      The company said according to preliminary findings from Exponent, a third-party investigator, a coolant leak inside a single battery pack was found to be the probable cause of the truck fire at the company's headquarters in Phoenix, Ariz. on June 23. 

                      The findings were further corroborated by a minor thermal incident that impacted one pack on an engineering validation truck parked at the company's Coolidge, Ariz. plant on Aug. 10, the company added in a release to investors.  

                      No one was injured in either incident.

                      The company put battery electric vehicles sales on hold until a resolution is in place. 
                      • PayPal Inc increased 1.7% to $62.52 after the payment processing company's board appointed Intuit executive Alex Chriss as the new chief executive replacing long-time chief executive Dan Schulman in September. 

                        Schulman plans to remain as a director till the end of May 2024.