Braze Q4 Revenue Beats Expectations, Stock Rises 20%
Skepticism crept into the "pathway to Iranian conflict offramp" narrative that boosted risky assets on Monday, and stocks fell on Tuesday, with Communication Services and Tech - particularly software names - suffering some of the bigger losses. Tuesday evening, however, Israeli media reported that US negotiators are seeking a one-month ceasefire with Tehran as the two sides hammer out a status quo amenable to both administrations - the White House is hoping to secure promises of commitment from Tehran not to develop a nuclear arsenal or to support rogue militias in exchange for helping the country develop a nuclear program for energy use. Separately, the WSJ also reported that mediators from Turkey, Egypt and Pakistan are working to secure a dialogue between Tehran and Washington. S&P 500 futures reopened up 0.7% on the latest developments while WTI Crude Oil retreated further below $89 per barrel.Among notable movers afterhours, Braze spiked 20% after the company's better than expected Q4 revenue with above-consensus top-line guidance. KB Home, however, was lower after a Q1 earnings miss, with homes delivered falling 14% from last year and average selling price compressing to $452,100, from $500,700, sending housing gross margins down to 15.5% from 20.3%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Brazeup 20.1%Paysignup 2.7%ALSO HIGHER -Robinhood Marketsup 1.9% after announcing $1.5B buybackDOWN AFTER EARNINGS -Abscidown 14.1%Velo3Ddown 9.3%KB Homedown 4.2%Worthington Enterprisesdown 2.6%GameStopdown 0.2%ALSO LOWER -Forgent Power Solutionsdown 10.6% after equity offeringDigitalOcean Holdingsdown 8.4% after equity offering
