News

Concentrix Corporation (CNXC) outperformed expectations in the first quarter of 2023, exceeding analyst estimates for both earnings per share ($2.79 vs. $2.58) and revenue ($2.37 billion vs. $2.36 billion). This strong performance led the company to raise its fiscal 2025 revenue outlook and fueled a 11.15% surge in its stock price during after-hours trading.

Pfizer shares are falling after a Wall Street Journal report revealed U.S. prosecutors are investigating a claim that Pfizer delayed announcing the success of its COVID-19 vaccine trials until after the 2020 U.S. presidential election. Pfizer denies any wrongdoing and maintains its vaccine development was driven by science and regulatory oversight.

Cloudflare's Act III products, including developer tools, compute, and storage for AI-enabled applications, are projected to experience significant growth, with analysts estimating a potential 60% CAGR and a doubling of ARR in 2025. This growth is driven by the increasing demand for AI inference and Cloudflare's technical differentiators, which position the company to capture a meaningful share of this emerging market.

Lakeland Industries, a leading provider of safety gear for firefighters and other hazardous environment workers, is undergoing a turnaround under its new CEO, with a focus on building a comprehensive product portfolio and expanding its Fire segment. Analyst Michael Shlisky sees significant growth potential for the company, with a price target of $28.

Taiwan Semiconductor Manufacturing Company (TSM) shares fell on Wednesday due to broader market weakness and trade concerns, particularly after the U.S. added several Chinese technology firms to its export blacklist. The semiconductor industry remains under pressure as global trade tensions escalate, impacting cryptocurrency markets as well.