Posted 2/29/2024, 9:37:00 PM
Stocks Rally on Cooling Inflation Data; Snowflake and Zscaler Tumble Despite Strong Earnings
- Major indexes rose sharply before the closing bell Thursday after key inflation data met expectations and Fed policy hints.
- Software maker Snowflake plunged over 18% on weak outlook, though earnings were solid.
- Cybersecurity leader Zscaler fell over 5% in after-hours trade despite 35% sales growth.
- C3.ai and Duolingo posted strong quarterly results and gave upbeat forecasts. Both stocks broke out.
- Best Buy gained after a strong quarter, while Boeing fell on FAA warning over quality issues.