Rackspace Technology, Inc.

Mark A. Marino, the Chief Financial Officer of $RXT, sold 94,571 shares of the company on 02-28-2025 for an estimated $221,296. We received data on the trade from a recent SEC filing. This was a sale of approximately 4.5% of their shares of this class of stock. Following this trade, they now own 1,995,033 shares of this class of $RXT stock.
$RXT Insider Trading Activity
$RXT insiders have traded $RXT stock on the open market 14 times in the past 6 months. Of those trades, 1 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $RXT stock by insiders over the last 6 months:
MARK A. MARINO (Chief Financial Officer) has made 0 purchases and 3 sales selling 311,259 shares for an estimated $782,948.
AMAR MALETIRA (Chief Executive Officer) has made 0 purchases and 4 sales selling 314,699 shares for an estimated $759,506.
DHARMENDRA KUMAR SINHA (EVP, President, Public Cloud) has made 0 purchases and 2 sales selling 111,905 shares for an estimated $295,749.
SRINI KOUSHIK (President, Technology) has made 0 purchases and 2 sales selling 27,498 shares for an estimated $72,376.
BRIAN LILLIE (EVP, President Private Cloud) sold 20,165 shares for an estimated $51,219
ANTHONY C. ROBERTS purchased 19,455 shares for an estimated $50,583
KELLIE TEAL-GUESS (Chief Human Resources Officer) sold 6,993 shares for an estimated $17,762
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RXT Hedge Fund Activity
We have seen 55 institutional investors add shares of $RXT stock to their portfolio, and 47 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
MACKENZIE FINANCIAL CORP removed 2,550,080 shares (-43.9%) from their portfolio in Q4 2024, for an estimated $5,635,676
UBS GROUP AG added 793,637 shares (+2086.9%) to their portfolio in Q4 2024, for an estimated $1,753,937
JANE STREET GROUP, LLC removed 411,313 shares (-53.2%) from their portfolio in Q4 2024, for an estimated $909,001
CITADEL ADVISORS LLC added 394,524 shares (+132.5%) to their portfolio in Q4 2024, for an estimated $871,898
MORGAN STANLEY added 388,189 shares (+21.4%) to their portfolio in Q4 2024, for an estimated $857,897
TWO SIGMA INVESTMENTS, LP added 383,938 shares (+1692.6%) to their portfolio in Q4 2024, for an estimated $848,502
RENAISSANCE TECHNOLOGIES LLC added 373,627 shares (+24.0%) to their portfolio in Q4 2024, for an estimated $825,715
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Insider Sale: Chief Financial Officer of $RXT Sells 94,571 Shares

Mark A. Marino, the Chief Financial Officer of $RXT, sold 202,230 shares of the company on 02-24-2025 for an estimated $527,820. We received data on the trade from a recent SEC filing. This was a sale of approximately 10.6% of their shares of this class of stock. Following this trade, they now own 1,713,126 shares of this class of $RXT stock.
$RXT Insider Trading Activity
$RXT insiders have traded $RXT stock on the open market 13 times in the past 6 months. Of those trades, 1 have been purchases and 12 have been sales.
Here’s a breakdown of recent trading of $RXT stock by insiders over the last 6 months:
AMAR MALETIRA (Chief Executive Officer) has made 0 purchases and 4 sales selling 314,699 shares for an estimated $759,506.
MARK A. MARINO (Chief Financial Officer) has made 0 purchases and 2 sales selling 216,688 shares for an estimated $561,652.
DHARMENDRA KUMAR SINHA (EVP, President, Public Cloud) has made 0 purchases and 2 sales selling 111,905 shares for an estimated $295,749.
SRINI KOUSHIK (President, Technology) has made 0 purchases and 2 sales selling 27,498 shares for an estimated $72,376.
BRIAN LILLIE (EVP, President Private Cloud) sold 20,165 shares for an estimated $51,219
ANTHONY C. ROBERTS purchased 19,455 shares for an estimated $50,583
KELLIE TEAL-GUESS (Chief Human Resources Officer) sold 6,993 shares for an estimated $17,762
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RXT Hedge Fund Activity
We have seen 55 institutional investors add shares of $RXT stock to their portfolio, and 47 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
MACKENZIE FINANCIAL CORP removed 2,550,080 shares (-43.9%) from their portfolio in Q4 2024, for an estimated $5,635,676
UBS GROUP AG added 793,637 shares (+2086.9%) to their portfolio in Q4 2024, for an estimated $1,753,937
JANE STREET GROUP, LLC removed 411,313 shares (-53.2%) from their portfolio in Q4 2024, for an estimated $909,001
CITADEL ADVISORS LLC added 394,524 shares (+132.5%) to their portfolio in Q4 2024, for an estimated $871,898
MORGAN STANLEY added 388,189 shares (+21.4%) to their portfolio in Q4 2024, for an estimated $857,897
TWO SIGMA INVESTMENTS, LP added 383,938 shares (+1692.6%) to their portfolio in Q4 2024, for an estimated $848,502
RENAISSANCE TECHNOLOGIES LLC added 373,627 shares (+24.0%) to their portfolio in Q4 2024, for an estimated $825,715
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Insider Sale: Chief Financial Officer of $RXT Sells 202,230 Shares

Instructure Holdings (INST) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this education technology company would post earnings of $0.19 per share when it actually produced earnings of $0.23, delivering a surprise of 21.05%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Instructure, which belongs to the Zacks Technology Services industry, posted revenues of $173.16 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.33%. This compares to year-ago revenues of $134.92 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Instructure shares have lost about 12.7% since the beginning of the year versus the S&P 500's gain of 25.2%.
What's Next for Instructure?
While Instructure has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Instructure: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.21 on $170.19 million in revenues for the coming quarter and $0.84 on $662.01 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Rackspace (RXT), has yet to report results for the quarter ended September 2024. The results are expected to be released on November 12.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Rackspace's revenues are expected to be $670.1 million, down 8.5% from the year-ago quarter.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Instructure Holdings, Inc. (INST) : Free Stock Analysis Report
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Instructure Holdings (INST) Q3 Earnings and Revenues Top Estimates

The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.83%.
Stocks Wednesday saw downward pressure from the +4.1 bp rise in the 10-year T-note and a sell-off of more than -2% in key chip stocks.
However, the Dow Jones Industrials saw support from blue chips such as 3M (MMM), with a gain of +5.42%, and gains of more than +1% in Travelers (TRV), Chevron (CVX), Caterpillar (CAT), Home Depot (HD), NIKE (NKE), and Goldman Sachs (GS), and Coca Cola (KO).
Stocks on Wednesday gave back some ground after Tuesday’s +1.5% rally in the Nasdaq 100 index that was sparked by optimism that the U.S. Feb CPI report was not as bad as feared and the Feb core CPI dipped to a 2-3/4 year low of +3.8% y/y. However, the Feb headline CPI of +3.2% y/y was slightly above expectations of +3.1% and was 0.2 points above last June’s 2-3/4 year low of +3.0%. Both CPI measures remain well above the Fed’s +2% inflation target.
Fed Chair Powell said last week that the Fed is “not far” from having enough confidence to cut interest rates. However, the markets are discounting the odds at virtually zero that the Fed will cut interest rates at its meeting next week since inflation is still too far above target. The odds for a rate cut are much better for the June meeting.
The markets are discounting the chances for a -25 bp rate cut at 1% for next week’s March 19-20 FOMC meeting, 13% for the following meeting on April 30-May 1, and 73% for the meeting after that on June 11-12.
In some positive news for the housing market, the MBA mortgage applications index rose +7.1% in the week ended March 8, after rising +9.7% in the previous week. Mortgage purchases rose +4.7%, and refinancings rose +12.2%. The MBA’s average 30-year fixed mortgage rate in the latest week fell to a 5-week low of 6.84% from 7.02% in the previous week. The mortgage rate is currently only 13 bp above the 10-month low of 6.71% posted in December.
On the U.S. economic report front, the markets are awaiting Thursday’s U.S. retail sales and PPI reports. Feb retail sales are expected to show an increase of +0.8% m/m, reversing Jan’s -0.8% decline. Feb retail sales ex-autos are expected to rise +0.5% m/m, reversing most of Jan’s -0.6% decline. The Feb final-demand PPI is expected to rise to +1.2% y/y from Jan’s +0.9%, but the core PPI is expected to ease to +1.9% y/y from Jan’s +2.0%.
Overseas stock markets Wednesday closed mixed. The Euro Stoxx 50 closed up +0.35%. China’s Shanghai Composite closed down -0.40%. Japan’s Nikkei Stock Index closed down -0.26%.
Interest Rates
June 10-year T-notes (ZNM24) Wednesday closed down -7.5 ticks. The 10-year T-note yield rose by +4.1 bp to 4.192%, up from last Friday’s 5-week low of 4.034%. T-note prices saw weakness on (1) carry-over bearishness from Tuesday’s stronger-than-expected CPI report, and (2) Wednesday’s slight rise in the 10-year breakeven inflation expectations rate to 2.31%.
T-note prices also saw supply overhang with the Treasury in the market again Wednesday, along with strong corporate bond issuance. The Treasury Wednesday sold $25 billion of 30-year T-bonds, after selling $54 billion of 3-year T-notes on Monday and $42 billion of 10-year T-notes on Tuesday.
ECB Council member Martins Kazaks said today that rate cuts could come “within the next few meetings.” Also, Bank of France Governor Francois Villeroy de Galhau said the ECB’s first rate cut is more likely in June than April.
European government bond yields on Wednesday were higher. The 10-year German bund yield rose +1.7 bp to 2.347%, well above last Friday’s 5-week low of 2.234%. The 10-year UK gilt yield rose +5.5 bp to 4.001%.
U.S. Stock Movers
Chip stocks were weak after cloud provider Rackspace Technology (RXT) plunged -18% on a weaker-than-expected Q1 forecast. Marvell Technology (MRVL) fell -5.77%. Advanced Micro Devices (AMD) and Micron Technology (MU) fell more than -3%. Nvidia (NVDA) fell -1.12%.
Intel (INTL) fell -4.44% after Bloomberg reported that the Pentagon pulled out of a plan to give Intel a chip grant of as much as $2.5 billion.
Tesla (TSLA) fell -4.54% after Wells Fargo downgraded the stock to underweight from equal-weight due to the view that EV sales volumes will suffer since price cuts are not helping as much as they did previously.
Tech stocks that provided underlying support for the market included a +0.9% rally in Alphabet (GOOG) and a +0.7% rally in Amazon.com (AMZN).
Eli Lilly (LLY) saw support after announcing a partnership with Amazon.com to expand its sales of weight-loss drugs directly to patients and closed the day slightly higher by +0.10%.
Dollar Tree (DLTR) plunged by -14.45% after missing Q4 sales and profit estimates. The company also said it would close about 600 Family Dollar stores in the first half of fiscal 2024 and another 370 Family Dollar and 30 Dollar Tree locations as their leases expire. Dollar Tree operates more than 16,000 stores in the U.S. and Canada.
U.S. Steel (X) plunged -13% on Wednesday after media reports that President Biden will soon release a statement of concern about Nippon Steel’s proposed purchase of U.S. Steel.
Bitcoin (^BTCUSD) edged to a new record high Wednesday and ended the day up about +3.3% as cash continues to flood into the cryptocurrency space. Coinbase (COIN) fell -2.00%, Marathon Digital (MARA) fell -2.70%.
Earnings Reports (3/13/2024)
Dollar Tree Inc (DLTR), Chemours Co/The (CC), Petco Health & Wellness Co Inc (WOOF), Williams-Sonoma Inc (WSM), SentinelOne Inc (S), UiPath Inc (PATH), Lennar Corp (LEN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Higher T-note Yields and Weak Chip Stocks

The S&P 500 Index ($SPX) (SPY) today is down -0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.73%.
Stocks today are seeing downward pressure from the +2.4 bp rise in the 10-year T-note and a sell-off of more than -2% in key chip stocks.
Stocks are giving back some ground after yesterday’s +1.5% rally in the Nasdaq 100 index that was sparked by optimism that the U.S. Feb CPI report was not as bad as feared and the Feb core CPI dipped to a 2-3/4 year low of +3.8% y/y. However, the Feb headline CPI of +3.2% y/y was slightly above expectations of +3.1% and was 0.2 points above last June’s 2-3/4 year low of +3.0%. Both CPI measures remain well above the Fed’s +2% inflation target.
Fed Chair Powell last week said that the Fed is “not far” from having enough confidence to cut interest rates. However, the markets are discounting the odds at virtually zero that the Fed will cut interest rates at its meeting next week since inflation is still too far above target. The odds for a rate cut are much better for the June meeting.
The markets are discounting the chances for a -25 bp rate cut at 1% for next week’s March 19-20 FOMC meeting, 13% for the following meeting on April 30-May 1, and 75% for the meeting after that on June 11-12.
In some positive news for the housing market, the MBA mortgage applications index rose +7.1% in the week ended March 8, after rising +9.7% in the previous week. Mortgage purchases rose +4.7% and refinancings rose +12.2%. The MBA’s average 30-year fixed mortgage rate in the latest week fell to a 5-week low of 6.84% from 7.02% in the previous week. The mortgage rate is currently only 13 bp above the 10-month low of 6.71% posted in December.
On the U.S. economic report front, the markets are awaiting Thursday’s U.S. retail sales and PPI reports. Feb retail sales are expected to show an increase of +0.8% m/m, reversing Jan’s -0.8% decline. Feb retail sales ex-autos are expected to rise +0.5% m/m, reversing most of Jan’s -0.6% decline. The Feb final-demand PPI is expected to rise to +1.2% y/y from Jan’s +0.9%, but the core PPI is expected to ease to +1.9% y/y from Jan’s +2.0%.
Overseas stock markets today are mixed. The Euro Stoxx 50 is up +0.46%. China’s Shanghai Composite closed down -0.40%. Japan’s Nikkei Stock Index closed down -0.26%.
Interest Rates
June 10-year T-notes (ZNM24) today are down -3.5 ticks. The 10-year T-note yield rose by +2.4 bp to 4.174%, well above last Friday’s 5-week low of 4.034%. T-note prices are seeing weakness on (1) carry-over bearishness from yesterday’s stronger-than-expected CPI report, and (2) today’s +0.5 bp rise in the 10-year breakeven inflation expectations rate to 2.310%.
T-note prices are also seeing supply overhang with the Treasury in the market again today, along with strong corporate bond issuance. The Treasury today will sell $25 billion of 30-year T-bonds, after selling $54 billion of 3-year T-notes on Monday and $42 billion of 10-year T-notes on Tuesday.
ECB Council member Martins Kazaks said today that rate cuts could come “within the next few meetings.” Also, Bank of France Governor Francois Villeroy de Galhau said the ECB’s first rate cut is more likely in June than April.
European government bond yields are higher. The 10-year German bund yield is up +1.7 bp at 2.347%, well above last Friday’s 5-week low of 2.234%. The 10-year UK gilt yield is up +5.5 bp at 4.001%.
U.S. Stock Movers
Chip stocks are generally lower today after cloud provider Rackspace Technology (RXT) plunged -18% on a weaker-than-expected Q1 forecast. Marvell Technology (MRVL) and Micron Technology (MU) are down more than -4%. Advanced Micro Devices (AMD) Nvidia (NVDA) are down more than -2%.
Intel (INTL) is down -2.6% after Bloomberg reported that the Pentagon pulled out of a plan to give Intel a chip grant of as much as $2.5 billion.
Tesla (TSLA) is down -2.9% after Wells Fargo downgraded the stock to underweight from equal-weight due to the view that EV sales volumes might suffer as price cuts are not helping as much as they did previously.
Tech stocks that are providing underlying support for the market include a +1.3% rally in Alphabet (GOOG) and a +0.9% rally in Amazon.com (AMZN).
Eli Lilly (LLY) was initially up about +1% after announcing a partnership with Amazon.com to expand its sales of weight-loss drugs directly to patients but has since lost ground and is down -0.2%.
Dollar Tree (DLTR) is down -14% after missing Q4 sales and profit estimates and saying it will close about 600 Family Dollar stores in the first half of fiscal 2024 and another 370 Family Dollar and 30 Dollar Tree locations as their leases expire. Dollar Tree operates more than 16,000 stores in the U.S. and Canada.
Bitcoin (^BTCUSD) edged to a new record high today and is up more than +2% as cash continues to flood into the cryptocurrency space. Coinbase (COIN) and Marathon Digital (MARA) are up more than +2%.
Earnings Reports (3/13/2024)
Dollar Tree Inc (DLTR), Chemours Co/The (CC), Petco Health & Wellness Co Inc (WOOF), Williams-Sonoma Inc (WSM), SentinelOne Inc (S), UiPath Inc (PATH), Lennar Corp (LEN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The S&P 500 Index ($SPX) (SPY) today is down -0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.50%.
Stocks today are seeing downward pressure from the +2.5 bp rise in the 10-year T-note and a sell-off of more than -2% in key chip stocks.
Stocks are giving back some ground after yesterday’s +1.5% rally in the Nasdaq 100 index that was sparked by optimism that the U.S. Feb CPI report was not as bad as feared and the Feb core CPI dipped to a 2-3/4 year low of +3.8% y/y. However, the Feb headline CPI of +3.2% y/y was slightly above expectations of +3.1% and was 0.2 points above last June’s 2-3/4 year low of +3.0%. Both CPI measures remain well above the Fed’s +2% inflation target.
Fed Chair Powell last week said that the Fed is “not far” from having enough confidence to cut interest rates. However, the markets are discounting the odds at virtually zero that the Fed will cut interest rates at its meeting next week since inflation is still too far above target. The odds for a rate cut are much better for the June meeting.
The markets are discounting the chances for a -25 bp rate cut at 1% for next week’s March 19-20 FOMC meeting, 13% for the following meeting on April 30-May 1, and 75% for the meeting after that on June 11-12.
In some positive news for the housing market, the MBA mortgage applications index rose +7.1% in the week ended March 8, after rising +9.7% in the previous week. Mortgage purchases rose +4.7% and refinancings rose +12.2%. The MBA’s average 30-year fixed mortgage rate in the latest week fell to a 5-week low of 6.84% from 7.02% in the previous week. The mortgage rate is currently only 13 bp above the 10-month low of 6.71% posted in December.
On the U.S. economic report front, the markets are awaiting Thursday’s U.S. retail sales and PPI reports. Feb retail sales are expected to show an increase of +0.8% m/m, reversing Jan’s -0.8% decline. Feb retail sales ex-autos are expected to rise +0.5% m/m, reversing most of Jan’s -0.6% decline. The Feb final-demand PPI is expected to rise to +1.2% y/y from Jan’s +0.9%, but the core PPI is expected to ease to +1.9% y/y from Jan’s +2.0%.
Overseas stock markets today are mixed. The Euro Stoxx 50 is up +0.50%. China’s Shanghai Composite closed down -0.40%. Japan’s Nikkei Stock Index closed down -0.26%.
Interest Rates
June 10-year T-notes (ZNM24) today are down -3.5 ticks. The 10-year T-note yield rose by +2.5 bp to 4.176%, well above last Friday’s 5-week low of 4.034%. T-note prices are seeing weakness on carry-over bearishness from yesterday’s stronger-than-expected CPI report and today’s +0.6 bp rise in the 10-year breakeven inflation expectations rate to 2.311%.
T-note prices are also seeing supply overhang with the Treasury in the market again today and with strong corporate bond issuance. The Treasury today will sell $25 billion of 30-year T-bonds, after selling $54 billion of 3-year T-notes on Monday and $42 billion of 10-year T-notes on Tuesday.
ECB Council member Martins Kazaks said today that rate cuts could come “within the next few meetings.” Also, Bank of France Governor Francois Villeroy de Galhau said the ECB’s first rate cut is more likely in June than April.
European government bond yields are higher. The 10-year German bund yield is up +1.2 bp at 2.342%, well above last Friday’s 5-week low of 2.234%. The 10-year UK gilt yield is up +4.3 bp at 3.989%.
U.S. Stock Movers
Chip stocks are generally lower today after cloud provider Rackspace Technology (RXT) plunged -18% on a weaker-than-expected Q1 forecast. Advanced Micro Devices (AMD) is down more than -4%, and there are declines of more than -3% in Marvell Technology (MRVL), Micron Technology (MU), and Nvidia (NVDA).
Intel (INTL) is down -0.4% after Bloomberg reported that the Pentagon pulled out of a plan to give Intel a chip grant of as much as $2.5 billion.
Tesla (TSLA) is down more than -2% this morning after Wells Fargo downgraded the stock to underweight from equal-weight due to the view that EV sales volumes might suffer as price cuts are not helping as much as they did previously.
Eli Lilly (LLY) was initially up about +1% after announcing a partnership with Amazon.com Inc. to expand its sales of weight-loss drugs directly to patients but has since lost ground and is down -0.2%.
Dollar Tree (DLTR) is down -14% after missing Q4 sales and profit estimates and saying it will close about 600 Family Dollar stores in the first half of fiscal 2024 and another 370 Family Dollar and 30 Dollar Tree locations as their leases expire. Dollar Tree operates more than 16,000 stores in the U.S. and Canada.
Petco (WOOF) is up +7% after reporting stronger-than-expected comparable sales for Q4, and announcing that Ron Coughlin has stepped down as CEO and Chairman.
Bitcoin (^BTCUSD) edged to a new record high today and is up +2% as cash continues to flood into the cryptocurrency space. Coinbase (COIN) is up +1.5%, and Marathon Digital (MARA) is up +3%.
Earnings Reports (3/13/2024)
Dollar Tree Inc (DLTR), Chemours Co/The (CC), Petco Health & Wellness Co Inc (WOOF), Williams-Sonoma Inc (WSM), SentinelOne Inc (S), UiPath Inc (PATH), Lennar Corp (LEN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The following companies are expected to report earnings after hours on 03/12/2024. Visit our Earnings Calendar for a full list of expected earnings releases.
Qifu Technology, Inc (QFIN)is reporting for the quarter ending December 31, 2023. The technology services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.96. This value represents a 23.08% increase compared to the same quarter last year. The last two quarters QFIN had negative earnings surprises; the latest report they missed by -25.45%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for QFIN is 4.16 vs. an industry ratio of -17.20, implying that they will have a higher earnings growth than their competitors in the same industry.
CryoPort, Inc. (CYRX)is reporting for the quarter ending December 31, 2023. The transportation services company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.32. This value represents a 33.33% decrease compared to the same quarter last year. The "days to cover" for this stock exceeds 12 days. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CYRX is -13.65 vs. an industry ratio of 19.20.
Westrock Coffee Company (WEST)is reporting for the quarter ending December 31, 2023. The beverages company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.01. This value represents a 105.56% increase compared to the same quarter last year. The "days to cover" for this stock exceeds 28 days. Zacks Investment Research reports that the Price to Earnings ratio for WEST is 0.00 vs. an industry ratio of 21.30.
The Beauty Health Company (SKIN)is reporting for the quarter ending December 31, 2023. The medical services company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-0.11. This value represents a 466.67% decrease compared to the same quarter last year. SKIN missed the consensus earnings per share in the 1st calendar quarter of 2023 by -183.33%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for SKIN is -4.49 vs. an industry ratio of 16.60.
Rackspace Technology, Inc. (RXT)is reporting for the quarter ending December 31, 2023. The technology services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.04. This value represents a 166.67% decrease compared to the same quarter last year. In the past year RXT has met analyst expectations once and beat the expectations the other two quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for RXT is -13.13 vs. an industry ratio of -17.20, implying that they will have a higher earnings growth than their competitors in the same industry.
MaxCyte, Inc. (MXCT)is reporting for the quarter ending December 31, 2023. The biomedical (gene) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.10. This value represents a 100.00% decrease compared to the same quarter last year. In the past year MXCT has met analyst expectations twice and beat the expectations the other quarter. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MXCT is -9.93 vs. an industry ratio of 0.70.
i-80 Gold Corp. (IAUX)is reporting for the quarter ending December 31, 2023. The consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.04. IAUX reported earnings of $-0.05 per share for the same quarter a year ago; representing a a decrease of -20.00%.The last two quarters IAUX had negative earnings surprises; the latest report they missed by -166.67%. Latham Group, Inc. (SWIM)is reporting for the quarter ending December 31, 2023. The building company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.14. This value represents a 17.65% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for SWIM is -20.63 vs. an industry ratio of 13.30.
Heron Therapeutics, Inc. (HRTX)is reporting for the quarter ending December 31, 2023. The drug company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.15. This value represents a 11.76% increase compared to the same quarter last year. HRTX missed the consensus earnings per share in the 1st calendar quarter of 2023 by -58.82%. The "days to cover" for this stock exceeds 14 days. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HRTX is -2.59 vs. an industry ratio of -5.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Clover Health Investments, Corp. (CLOV)is reporting for the quarter ending December 31, 2023. The medical information systems company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.18. This value represents a 21.74% increase compared to the same quarter last year. In the past year CLOV and beat the expectations the other three quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CLOV is -1.64 vs. an industry ratio of -3.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Guild Holdings Company (GHLD)is reporting for the quarter ending December 31, 2023. The financial services company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.08. This value represents a 0.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for GHLD is 25.02 vs. an industry ratio of 5.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Energy Vault Holdings, Inc. (NRGV)is reporting for the quarter ending December 31, 2023. The alternative energy company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.09. This value represents a 47.06% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for NRGV is -3.11 vs. an industry ratio of 41.20.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for March 12, 2024 : QFIN, CYRX, WEST, SKIN, RXT, MXCT, IAUX, SWIM, HRTX, CLOV, GHLD, NRGV

In trading on Tuesday, application software shares were relative laggards, down on the day by about 2.6%. Helping drag down the group were shares of GitLab, off about 19.4% and shares of MicroStrategy off about 11.3% on the day.
Also lagging the market Tuesday are information technology services shares, down on the day by about 2.6% as a group, led down by SEMrush Holdings, trading lower by about 19.9% and Rackspace Technology, trading lower by about 9.2%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tuesday Sector Laggards: Application Software, Information Technology Services

Morning Markets
December E-Mini S&P 500 futures (ESZ23) and Dec Nasdaq 100 E-Mini futures (NQZ23) this morning are little changed.
Stock index futures this morning are little changed but are seeing downward pressure from this morning’s weak U.S. housing starts report and today’s +3.8 bp rise in the 10-year T-note yield. There is also downward pressure from the possibilities of an expanding UAW strike and a U.S. government shutdown on September 30. Oil prices rallied to a new 10-1/2 month high today, which boosted oil company stocks but was negative for the inflation outlook and hawkish for Fed policy.
Stocks are trading lower on a cautious note ahead of the 2-day FOMC meeting that begins today. The markets are fully expecting the FOMC this week to leave its funds rate target unchanged at 5.25/5.50%. However, the markets are expecting the FOMC to maintain a hawkish bias and keep in play the possibility of one more rate hike later this year.
Specifically, the markets are discounting a 31% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 14% chance for that 25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in 2024 in response to an expected slowdown in the U.S. economy.
U.S. and German bond yields today are higher, but UK yields are lower. The 10-year T-note yield is up +3.8 bp at 4.341%. The 10-year German bund yield is up +0.3 bp at 2.708%. The 10-year UK gilt yield is down -4.2 bp at 4.349%.
October WTI crude oil prices this morning are up +0.81 (+0.89%) at $92.29 per barrel, posting a new 10-1/2 month high on the nearest-futures chart. Oil prices have rallied sharply in the past two months on a tight supply outlook through year-end after Saudi Arabia and Russia both announced that they will extend their production cuts through year-end. The continued rally in oil prices is putting upward pressure on inflation expectations, with the 10-year breakeven inflation expectations rate today up +0.2 bp at 2.365%.
The OECD today cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. We’re confronting the double challenges of inflation and low growth.”
U.S. Aug housing starts fell -11.3% to 1.283 million, much weaker than expectations for a decline of about -1%. However, Aug building permits rose +6.9% m/m to 1.542 million, stronger than expectations for a small decline.
The Eurozone final-Aug CPI was revised slightly lower to +0.5% m/m and +5.2% y/y from the preliminary report of +0.6% m/m and +5.3% y/y. The final-core CPI was left unrevised at +5.3% y/y.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.05%. China’s Shanghai Composite Index closed -0.03%. Japan’s Nikkei 225 today closed down -0.87%.
Pre-Market U.S. Stock Movers
Grocery-delivery business Maplebear Inc, doing business as Instacart (CART), will start trading today after its IPO was priced on Monday at $30 per share, at the high end of its marketed range. CART raised $660 million of cash at the IPO and had an IPO valuation of $9.9 billion.
The UAW today said that more autoworkers will go on strike at noon on Friday if there isn’t substantial progress on contract talks. GM (GM) is up +0.3% in pre-market trading, Ford (F) is up +0.2%, and Stellantis NV (STLA) is up +2.4%.
Oil stocks are seeing support as WTI crude oil prices today rallied to a new 10-1/2 month high. Exxon (XOM) is up +0.5% in pre-market trading, Chevron (CVX) is up +0.4%, and Conoco Phillips (COP) is up +0.3%.
Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook.
Starbucks (SBUX) is down -1.3% in pre-market trading on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
CVS Corp (CVS) is up +1.0% in pre-market trading on an upgrade by Evercore ISI due to improving operational issues and an attractive valuation.
Rackspace Technology (RXT) is up +9.4% in pre-market trading on an upgrade by Raymond James to outperform from market-perform on an improved outlook for its turnaround plan.
Rocket Lab USA (RKLB) plunged -23% in pre-market trading after the company was forced to end its latest rocket launch mission and postponed an upcoming mission.
Royal Caribbean Cruises (RCL) and Carnival (CCL) are up more than +1.5% in pre-market trading after upgrades by Truist Securities to Buy and Hold, respectively, due to strong trends and more attractive valuations.
(9/19/2023)
AutoZone Inc (AZO), Apogee Enterprises Inc (APOG), Ispire Technology Inc (ISPR), Steelcase Inc (SCS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.