The stock market rose on Monday as investors shaked off rising oil prices following the Israel-Hamas attack. The growth may be attributed to the comments of two officials from the Federal Reserve that they may not need to raise interest rates again.
Overall, S&P 500 was up 0.6% to 4,336, while NASDAQ increased 0.4% to 13,484.
Tweet of the Day
Microsoft $MSFT will debut new Athena AI chip next month to cut dependence on $NVDA
Microsoft chip will be similar to Nvidia H100 GPUs, designed for data centers
These chips have been being tested internally for months
OpenAI had no comment$AMD $TSM $GOOG
— Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) October 6, 2023
Chart of the Day
Here is the one-year chart of Zscaler (ZS) as of September 20, 2023, when the stock was at $154.
Zscaler is the largest in-line cloud security platform in the world, securing 40 millions users from the largest global brands, and processing more than 300 billion transactions daily, while working with 40 million users from some of the largest global brands. The company is also delivering strong growth within US government agencies.
Zscaler is delivering exceptional results as demand for its cybersecurity products remains robust. Last quarter, profit grew 182% while revenue increased 43%. The company set a record for billings with balanced growth across all verticals, operating segments, and geographies. The company also attained a record operating margin of 19%, up from 12% a year ago in the same period. Zscaler also added the most $1 million per year customers it ever had (49). It now has 449 customers delivering more than $1 million in revenue annually.
ZS is part of the Aggressive Growth Portfolio and Growth Portfolio.
