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May 30th Stock Market Update - DELL reports earnings and stock moves down 12% on the day

May 30th Stock Market Update - DELL reports earnings and stock moves down 12% on the day

$ALTM $CRM $HOOD

Mukund Mohan
May 30, 2024

Market

“DELL reported revenue and earnings that beat expectations with $22.2B in rev vs $21.6 Est and $1.27 in EPS vs $1.26 estimated, but stock went lower on the news due to high expectations for guidance” 🤭 😪

All indices headed lower on Salesforce getting a 20% haircut on the day

Salesforce stock moved 20% lower to have the Dow, S&P and NASDAQ all head much lower, but GPS (Gap) and HPQ headed much higher on quarterly earnings.

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Nvidia and Salesforce led the move higher, but most financials including large banks did well.

Thank you $CRM for the lower technology sector move

The best plays are still in companies hit because of overall sentiment even in this quarter where most companies which issued lower guidance headed lower. These include SNOW and NET.