Super Micro Soars, Pegasystems Slides, GE Vernova Drops as ‘Modest’ Guidance Boost Disappoints

On this episode of Stock Movers:

-Super Micro Computer (SMCI) shares rose after the server maker issued preliminary results saying its backlog hit a record on new orders in the quarter of more than $60 billion. Sales have surged for Super Micro’s servers fitted with Nvidia Corp. chips for artificial intelligence workloads. 

- Pegasystems (PEGA) shares drop after the software company reported adjusted earnings per share for the second quarter that missed the average analyst estimate. The firm said its annual contract value (ACV) growth rate significantly slowed during the first half of the year as clients delayed purchasing decisions, and this trend may continue to adversely affect the ACV growth rate for the rest of the year.

- GE Vernova (GEV) fall as much as 7.5% after the power equipment manufacturer raised a full-year revenue outlook by what Citi called a “relatively modest” amount and left an outlook for adjusted Ebitda margins unchanged, disappointing investors after a surge in the stock. 

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