My Take: This is a huge win for TXT, and it will pay dividends for shareholders for many years to come. If TXT can break through resistance at around $77.50, it could be headed for a new 52-week high. TXT also looks like a good value with a P/E of 18.06.
Gitlab [GTLB] - Last Close: $38.33
Gitlab is taking off after a strong earnings report.
The software development firm released its Q3 earnings this morning, and the results surpassed analysts' expectations.
Gitlab reported a non-GAAP loss of -$(0.10) per share, against the consensus estimate of -$(0.15).
Revenues of $113.0 million also topped the Street's $106.1 million target.
Gitlab's Q4 and FY2022 guidance also beat consensus estimates.
GTLB is one of today's top movers with a 17.6% gain.
My Take: GTLB has an elevated short percentage of 11.54%, so this rally could have more gas in the tank if the bulls can keep the pressure up and set off a short squeeze.
Vivint Smart Home [VVNT] - Last Close: $8.99
News of a buyout is skyrocketing shares of Vivint Smart Home.
The security & smart home firm has agreed to be acquired by NRG Energy in an all-cash deal with a total transaction value of $5.2 billion.
NRG Energy will pay $12 per share to acquire the company, representing a 33.4% premium from VVNT's closing price on Monday.
The boards of both companies have already approved the transaction, and NRG controls the necessary shares to approve the transaction.
According to the press release announcing the deal, the companies hope to close the transaction in Q1 2023.
Shares of VVNT are trading actively with a 31.9% gain on the news.
My Take: As is usually the case with this kind of moves, there's not a lot of upside left here. VVNT is already trading close to its acquisition price, so you're a little late to the party if you want to get in on this one.
Scworx [WORX] - Last Close: $0.6652
Scworx is moving higher after an analyst upgrade.
Late Monday afternoon, an analyst at Refinitiv/Verus upgraded WORX from "hold" to "buy."
The news sparked an immediate rally on Monday, and WORX ultimately closed with an 18.3% gain.
Scworx's rally continued into yesterday's after-market, and it's still running hot in this morning's premarket trading session.
WORX is one of this morning's top stocks with a 14.8% gain.
My Take: Momentum traders are pushing this rally as far as it can go, but it might be too steep for its own good. Watch for a potential pullback here.
