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Alibaba, Dell, Elastic, Tesla and more stocks to watch

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December 01 2023 01:35AM

U.S.-listed shares of Alibaba were down 1.3% after the company was downgraded to Equal Weight from Overweight by Morgan Stanley and the price target was reduced to $90 from $110.

Dell Technologies reported adjusted third-quarter earnings that beat forecasts but lower-than-expected revenue on weak demand. Shares fell 4.1%.

Elastic rose 20% after the company reported fiscal second-quarter adjusted earnings and sales that beat Wall Street estimates.

Third-quarter adjusted earnings at Marvell Technology topped expectations. Marvell said it expects revenue in the fourth quarter of $1.42 billion, plus or minus 5%, compared with $1.419 billion a year earlier. Analysts have been expecting revenue of $1.46 billion. Shares fell 5.3%.

Samsara posted better-than-expected revenue and profit for the fiscal third quarter, and issued guidance for the fourth quarter that beat expectations. Its shares rose 17%.

Tesla handed over the initial batch of Cybertrucks to buyers on Thursday. The base model of what Elon Musk called “potentially our best product ever” costs $60,990, pricier than expectations. Its shares declined 1.3%.

UiPath reported fiscal third-quarter adjusted profit and revenue that beat analysts’ expectations. The stock was up 13%.

Ulta Beauty reported better-than-expected third-quarter earnings, sales, and same-store sales. Ulta also raised the lower end of its sales and profit outlook for the fiscal year. Its shares rose 11%.