NEWS
A Mixed-Up Monday In Markets

Oil and defensive assets like gold ruled the day as geopolitical tensions escalated further over the weekend. Meanwhile, earnings continue to drive major moves in popular stocks and create opportunities across various sectors. Let’s see what you missed. 👀

Today's issue covers a positive case of the Mondays, B. Riley breaking buyers’ spirits, a breakout in gold, and why India is in the headlines. 📰

Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with technology (+0.82%) leading and communications (-0.69%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $WKEY, $GNLN, $CNTM, $CXAI, $ASND, 📉 $RILY, $YMAB, $HD, $FTRE, $EL*

*If you’re a business and want to access this data via our API, email us.

EARNINGS
A Solid Monday For This Software Stock 💻

Cloud-based project management software provider Monday.com delivered a strong second-quarter profit and raised its sales outlook, breathing life back into the sector that’s been plagued by disappointment this earnings season. 🥳

The company reported adjusted earnings per share of $0.94 on $236.10 million in revenue, topping management’s prior guidance and analyst’s consensus view of $0.56 on $229 million in revenues.

Customers with contractors for more than $100,000 in annual recurring revenue (ARR) were up 49% YoY, with $50,000+ ARR customers also rising 43% YoY. That signaled to Wall Street that more higher-paying businesses have come on as clients. 🤑

Management said introducing more generative artificial intelligence (AI) features into its product helped drive sales, while automating customer service helped improve margins. Looking ahead, it expects the momentum to continue, with its new full-year revenue forecast of $956 to $961 million topping a prior forecast and analyst estimates.

Shares rose 15% to more than 2.5-year highs as Stocktwits sentiment returned to its highest level over the last year. 🐂