Axon Enterprise [AXON] - Last Close: $175.73
Axon Enterprise is trending after a strong earnings report.
The police equipment company reported its Q2 earnings late Tuesday, and the results topped expectations.
Axon generated non-GAAP EPS of $1.11 on Tuesday, more than double the previous year's $0.44 figure, and crushed the consensus of $0.62 per share.
Revenues of $374.6 million also topped the Street's $350.5 million target.
Axon also hiked its full-year revenue forecast, which also topped expectations.
AXON is currently leading the S&P 500 with a 14.9% gain.
My Take: AXON is coming off a big pullback, but this rally could put it back on the right track if it can sustain the momentum.
Computer Task Group [CTG] - Last Close: $8.00
Computer Task Group has agreed to a buyout deal.
The IT firm has entered into a definitive agreement to be bought out by Cegeka Group in an all-cash acquisition deal worth $170 million.
Under the terms of the agreement, CTG investors will receive $10.50 per share for each share of common stock, representing a 31.2% premium to CTG's last close.
The transaction will proceed via a tender offer, and both companies' boards have already unanimously approved the agreement.
CTG is one of today's top premarket movers with a 27.1% gain.
My Take: CTG has had a decent year, but it looks like investors have decided to take the pay day. Unfortunately, upside in this trade is virtually nonexistent at its current price point.
Tango Therapeutics [TNGX] - Last Close: $3.83
An analyst note is boosting shares of Tango Therapeutics.
Early Tuesday, HC Wainwright & Co. analyst Robert Burns reiterated his "buy" rating on the stock and doubled-down on his $11 price target.
Shares of TNGX jumped 11.3% on Tuesday after the analyst published his report, but the gains didn't stop at the closing bell.
The TNGX rally is accelerating in today's premarket. Shares are up 28.7% on elevated trading volume.
My Take: TNGX has suffered some declines over the past few months, but its recent gains could be a sign that its 2023 downtrend has bottomed out.
LivePerson [LPSN] - Last Close: $3.99
LivePerson is running hot after a strong earnings report.
The holographic entertainment company posted a double-line beat on its Q2 results published after Tuesday's close.
LivePerson reported a surprise profit of $0.12 per share, steamrolling the analyst consensus of a $(0.38) per share loss.
Its Q2 sales came in at $97.52 million, also topping the Street's $96.85 million estimate.
Roth Capital Partners upgraded the stock from "neutral" to "buy" and set its price target at $6 in response to the strong quarter.
LPSN is one of today's top premarket performers with a 20.3% gain.
My Take: LPSN was trading for around $70 at the in Sept. of last year, so this stock could have major upside if it can get its groove back. I think it still has a long way to go, but its Q2 numbers certainly impressed.
