WISCONSIN (CoinChapter.com) — The S&P 500 and NASDAQ Composite decreased by 0.4% and 0.7%, respectively. The Dow Jones Industrial Average dropped 70 points, or 0.2%.
After the business disclosed quarterly earnings and revenue that surpassed high analyst estimates, Nvidia shares increased by 4%. The business also increased its forecast, with management anticipating that third-quarter revenue would rise to $16 billion, or a 170% growth over the same period last year.
Here are the five best stock market gainers:
VinFast Auto Ltd. (NASDAQ:VFS)
The debut of VinFast Auto Ltd. (NASDAQ: VFS) last week has established it as a key player in the global electric vehicle market. The Vietnam-based EV manufacturer’s shares experienced a significant jump after its unconventional $23 billion backdoor listing.
Commencing trading at an impressive $22 per share, VinFast’s valuation exceeded the initial $10 per share agreement with its SPAC partner, Black Spade Acquisition, implying a strong market confidence in the startup. VinFast has quickly catapulted to become the 4th largest automaker worldwide.
TDCX Inc. (NYSE:TDCX)
TDCX Inc. (NYSE: TDCX), a digital customer experience solutions provider, released its unaudited financial results for Q2 2023. The report’s highlights reveal notable growth, with total revenue reaching US$126.2 million, an increase of 5.5% yearly.
This figure reflects a 5.8% negative impact from foreign exchange rates compared to last year’s period and an 11.3% increase in constant currency terms. Notably, TDCX’s Q2 2023 profit is up 9.4% year-over-year, at $21.6 million.
Guess Inc. (NYSE:GES)
Shares of Guess Inc. (NYSE: GES) experienced a nice increase today, rallying 28.73% following the retailer’s second-quarter fiscal sales announcement, which surpassed Wall Street expectations.
The company’s performance was notable in Asia and Europe, with sales rising by 19% and 9%, respectively, leading to Guess’ stock jump.
Guess reported robust earnings of $39 million, or 59 cents a share, a remarkable increase from $24 million, or 35 cents a share, recorded in the same period last year. After adjusting for one-time items, the earnings stood at 72 cents a share.
This positive outcome was driven by a 3% increase in revenue to $664.5 million, up from $642.7 million a year ago.
Glimpse Group Inc. (NASDAQ:VRAR)
The Glimpse Group Inc. (NASDAQ: VRAR), a leader in the Virtual Reality and Augmented Reality sphere, announced the initiation of independent equity analyst coverage by WestPark Capital.
The coverage comes with a “Buy” recommendation and a price target of $8.87 per share. Lyron Bentovim, President & CEO of Glimpse, stated:
“We view Glimpse as a proxy to the Immersive technology software and services industry, driven by our diversified structure and leadership position.”
Backblaze Inc. (NASDAQ:BLZE)
Backblaze Inc. (NASDAQ: BLZE), a leader in specialized cloud storage, made noteworthy adjustments to its 2023 financial guidance. This update comes in response to pricing increases and product updates across its Computer Backup and B2 Cloud Storage products.
The revision sees Backblaze’s full-year revenue outlook rise from the previously guided range of $98 million-$102 million to a new forecast of $100 million-$102 million, shifting the midpoint to $101 million. Additionally, the company’s guidance range for adjusted EBITDA has been improved from 8.5%-4.5% to a new range of 6.5-4.5%.
