Strong earnings are giving F5 Inc. a big boost in today's premarket.
The cloud security and services firm reported better-than-expected fiscal Q3 earnings results on Monday evening.
F5 earned $2.57 per share on revenues of $674.5 million, beating the Street's estimate of $2.23 EPS on revenues of $667.8 million.
The company's Q4 forecast fell in line with analyst estimates.
F5 also said its board has approved an additional $1 billion to go towards its common stock share repurchase program.
FFIV is leading the S&P 500 with a 7.2% gain.
Our Take: Cloud stocks like F5 could be a great way to ride out a downturn. They're not recession proof, but they could be in a great position to adapt to worsening economic conditions while maintaining steady growth.
Freight Technologies [FRGT] - Last Close: $1.48
News of a mammoth new contract are lifting shares of Freight Technologies.
The supply chain automation and software firm announced this morning that it has landed a major deal with Samsung Mexico SDS.
Freight Tech has already begun using its platform to assist Samsung with its shipments from Mexico to the US, and the companies plan to expand the relationship in the coming months.
Reps from Samsung Mexico said Freight Tech's Fr8App will help the company administrate cross-border shipments and reduce its use of paper tracking forms.
However, the companies stopped short of disclosing any financial details relating to the new partnership.
Shares of FRGT are trading actively with a 69.6% gain on the news.
Our Take: Samsung is one of the world's biggest companies, so there is a lot of potential for new business for Freight Tech if they can get this right. This stock was trading for almost $10 a share last year, so there could be big upside here.
