NetApp Inc (NTAP Stock) Gains Over 10% On Strong Earnings

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  • The S&P 500 Index appears to end the day little changed.
  • NetApp Inc shares rise dramatically on upbeat earnings figures.
  • Salesforce.Com Inc suffers heavy losses after the company announces the acquisition of Slack.

After closing at a new all-time high on Tuesday, the S&P 500 Index (SPX) He started the day in negative territory but had no difficulty recouping his losses. At time of writing, the SPX was virtually unchanged on the day at 3,662.

S&P 500 Major Changes

NetApp Inc (NTAP: NASDAQ) reported adjusted quarterly earnings of $ 1.05 per share for the quarter ending in October and beat market expectations of 73 cents a share. Additionally, the data management solutions provider noted that its revenue increased 3.3% to $ 1.42 billion from a year ago, compared to an analyst estimate of $ 1.31 billion. Driven by these upbeat figures, NTAP is trading at $ 59.50, gaining 10.7% as the highest daily percentage gain on Wednesday.

Meanwhile, the S&P 500 energy index is up 4% on the day. Among the major energy stocks, shares of HollyFrontier Corp (HFC: NYSE), Apache Corp (APA: NASDAQ), Devon Energy Corp (DVN: NYSE) and Occidental Petroleum Corp (OXY: NYSE) rose 6% to 1%. 9%.

On the other hand, shares of Salesforce.Com Inc (CRM: NYSE) are falling sharply after the company announced that it will buy Slack in a deal worth $ 27.7 billion. At the moment, CRM is the worst performer of the day, losing 8.45% to $ 220.97.

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