Business communications software company 8x8 (NYSE:EGHT) met Wall Street’s revenue expectations in Q1 CY2025, but sales fell by 1.3% year on year to $177 million. The company expects next quarter’s revenue to be around $178.5 million, close to analysts’ estimates. Its non-GAAP profit of $0.08 per share was in line with analysts’ consensus estimates.
Measurement equipment distributor Transcat (NASDAQ:TRNS) announced better-than-expected revenue in Q1 CY2025, with sales up 8.8% year on year to $77.13 million. Its non-GAAP profit of $0.64 per share was 3.8% above analysts’ consensus estimates.
Shares of solar panel manufacturer First Solar (NASDAQ:FSLR)
fell 9% in the afternoon session after a note from Citi analysts warning that the company's (FSLR's) eligibility for solar 45X tax credits (federal tax incentive for domestic manufacturers that produce qualifying advanced energy components) might expire in 2028, four years earlier than the 2032 timeline proposed in the original House bill draft. The earlier phaseout could significantly reduce long-term profit margins and dampen investor confidence, as these credits are a key component of First Solar's cost advantage and earnings.
Shares of online community and discussion platform Reddit (NYSE:RDDT) fell 5.1% in the afternoon session after Wells Fargo downgraded the stock from Buy to Hold, raising concerns as Google prepares to fully integrate generative AI into its platform. The firm noted that recent disruptions in search-driven traffic appear more permanent, as more users turn to AI-powered search.
The COT currency market speculator bets were slightly higher this week as six out of the eleven currency markets we cover had higher positioning while the other five markets had lower speculator contracts.
Microsoft Corporation (NASDAQ: MSFT) shares are closed Monday up more than 1%. Shares are approaching all-time highs, driven by continued momentum in artificial intelligence, as well as cost-cutting measures.
Investors poured over $2 billion into long-dated Treasury ETFs just before Moody's U.S. downgrade. Can the demand for duration persist amid rising debt risks?
