Axon Shares Surge as Taser Maker Tops Estimates | Global News Avenue

Major U.S. stock indexes were higher, ending an eventful week filled with political and economic news. election day Tuesday is followed by Federal Reserve Announcement Cut interest rates by a quarter of a percentage point on Thursday.

After breaking above the 6,000 mark for the first time in intraday trading history, the S&P 500 closed just below that level on Friday, with a daily gain of 0.4%, ending a historic week with a record closing high. The Dow rose 0.6% and the Nasdaq gained 0.1%, with both indexes joining the S&P 500 in closing records.

A stake in police and military equipment supplier Axon Enterprise (axon) The S&P 500 rose 26.7% to a record high on Friday following a strong quarterly earnings report. taser manufacturers Third-quarter sales and profits beat expectationsThe company’s growth has been fueled by revenue growth from its main “less-lethal” weapons, software and sensor businesses, as well as its cloud services offerings.

Cybersecurity company Fortinet (FTNT) third-quarter revenue and earnings per share (EPS) results also exceeded expectations, and the stock price rose 10.0%. Although Fortinet’s guidance for current-quarter revenue was below consensus forecasts, the company posted record gross margins and touted a return to product revenue growth. In addition, Fortinet’s board of directors authorized an increase of $1 billion in the company’s stock repurchase authorization.

insulin(podcast) shares rose 9.4% after the insulin delivery device maker reported better-than-expected quarterly sales and profits, driven by record year-over-year revenue growth. The company is seeing strong demand for its wearable insulin pumps, which eliminate the need for multiple daily injections for people with insulin-dependent diabetes. In August, the U.S. Food and Drug Administration (FDA) expanded the indication for the Insulet Omnipod 5 device, making it the first and only automated insulin delivery device approved to treat type 1 and type 2 diabetes.

The weakest performer on the S&P 500 on Friday was shares of Akamai Technologies (my brother), shares plunged 14.4% after the cloud services provider released its latest financial results. Akamai’s sales and profit guidance for the quarter fell short of consensus estimates, although quarterly revenue topped estimates and earnings per share were in line. The company also announced a strategic shift that includes plans to reduce its workforce by about 2.5%.

Airbnb (ABNB) shares fell 8.7% after the vacation rental platform reported mixed quarterly results, beating revenue expectations, but Insufficient profit. Airbnb said in a letter to shareholders that the company is focusing on expanding its global footprint, focusing on underpenetrated regions outside of core markets.

Cloud networking provider Arista Networks (aneta) reports a continuous Gross profit margin decreasesits shares fell 7.2%. The company said it expects continued pressure on margins in the current quarter. Arista also announced a four-in-one stock splitthe split-adjusted shares will begin trading on December 4.