Stock Market Movers: August 29th 2019
Trade tensions eased a bit on Thursday, driving significant stock market gains. At 12:15 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) were up 1.29%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) had gained 1.52%.
Cloud software company Nutanix (NASDAQ: NTNX) outperformed the market by a wide margin as it easily beat revenue and earnings expectations, while Ollie's Bargain Outlet (NASDAQ: OLLI) tumbled after its rapid growth strategy led to major problems.
Shares of Nutanix (NASDAQ: NTNX) soared on Thursday, up 31% just before noon, after the cloud computing company's fiscal fourth-quarter report beat expectations. While total revenue was down as the company reduced its dependence on hardware, the transition to subscriptions showed signs of progress.
Source Fool.com
