24H | Dell Soars 39%; HPE Surges 21%; NetApp Pops 15%; SMCI Jumps 11%; SentinelOne Sinks 16%; Drone Stocks Rise Again

US Overnight
05/29

Dow Futures fell 0.01%, S&P 500 Futures rose 0.02%, Nasdaq Futures fell 0.08%, mixed.

Drone stocks rose in overnight trading, with Unusual Machines Inc (UMAC) jumping 11.08%, Kratos Defense & Security Solutions (KTOS) advancing 5.60%, AeroVironment gaining 4.23%, Red Cat Holdings Inc. (RCAT) rising 3.32%, Ondas Holdings Inc. (ONDS) ticked up 2.34%.

Space stocks was mixed in overnight trading, with Virgin Galactic rallying 13.47%, Sidus Space Inc. (SIDU) gaining 3.67%, Redwire Corp. declining 2.16%, Destiny Tech100 Inc (DXYZ) rising 2.00%.

Chip stocks was mixed in overnight trading, with SUPER MICRO COMPUTER INC (SMCI) climbing 10.58%, ARM Holdings rising 1.68%, Micron Technology (MU) advancing 1.64%, Cerebras Systems gaining 1.55%, Seagate Technology PLC (STX) rising 1.28%, Marvell Technology (MRVL) slipping 1.22%, Direxion Daily Semiconductors Bull 3x Shares (SOXL) ticked up 1.09%, Broadcom rising 1.06%.

Dell Technologies Inc. (DELL) surged 38.93% on blowout earnings and AI growth. Hewlett Packard Enterprise (HPE) rallied 21.28% on upgrades and Dell’s AI results.

NetApp rallied 14.47% on earnings beat and raised guidance.

Okta rose 8.32% on Q1 beat and raised guidance.

Credo Technology Group Holding Ltd (CRDO) climbed 2.43%. Oracle gained 4.01% on strong results and target hike. ServiceNow advanced 3.96%. T1 ENERGY INC gained 2.59%. BlackBerry jumped 5.58%. IBM ticked up 2.06%.

Autodesk fell 6.74% on cautious full-year outlook and deal.

Elastic reported fourth quarter results that exceeded analyst expectations, but shares sank 9.74% as the company’s first quarter earnings guidance disappointed investors.

Gap cut its annual sales forecast on Thursday and American Eagle Outfitters kept its annual comparable sales view intact, failing ​to reassure investors as cautious U.S. consumers kept apparel demand pressured. Shares of Gap ‌plunged about 15% in overnight trading, while those of American Eagle fell more than 11%.

Cybersecurity company SentinelOne forecast second-quarter revenue below analysts' expectations on Thursday and said it would cut about 8% of ​its workforce as it looks to invest in growth ‌areas such as AI, data and cloud. The shares sank 15.76%.

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