🎁Top Movers | NKLA Jumps 20% on Another Order; ANET Beats Outlook

1. $Nikola Corporation(NKLA)$ +22.91% climbing alongside a truck order

Nikola stock is experiencing a rise in value following a new truck order from $JB Hunt Transport(JBHT)$ . J.B. Hunt is purchasing 13 trucks from Nikola, which includes 10 electric trucks and three hydrogen fuel cell trucks.

These trucks are expected to be delivered in August and will be utilized on key routes near Los Angeles and Phoenix. In addition to providing the trucks, Nikola will also supply hydrogen and fueling infrastructure for the vehicles.

The announcement of this order has positively impacted NKLA stock, with a notable increase in trading volume.

2. $fuboTV Inc.(FUBO)$ soars 19.93% ahead of earnings

Over the past 30 days, FUBO has shown a notable gain of 49.78%.

Its gains might contribute to sector rotation. As big tech’s performance tends to go flat and earnings deliver no surprise, second-tier growth stocks begin their rally.

FuboTV is a prominent over-the-top (OTT) internet television service provider. The platform's unique combination of sports and traditional TV programming has contributed to its status as an emerging player in the competitive media landscape.

FuboTV is set to announce its quarterly earnings on August 4th. Analysts are predicting an expected loss of ($0.23) per share for the quarter.

As the digital media landscape continues to evolve, FuboTV's performance in this quarter will be closely scrutinized as it provides valuable insights into its ability to navigate the competitive market and seize new opportunities.

3. $Arista Networks(ANET)$ +14.77%: Slays As Earnings Beat Amid Microsoft, Meta Worries

Arista Networks (ANET) reported better-than-expected second-quarter results, leading to a significant pop in its stock price.

For the three months ended June 30, Arista's earnings per share increased by 46% to $1.58, beating estimates of $1.44 per share. Additionally, the company's revenue surged by 39% to $1.46 billion, surpassing forecasts for $1.38 billion.

For the September quarter, Arista projects revenue in the range of $1.45 billion to $1.5 billion, which also exceeds estimates of $1.39 billion.

Arista's biggest customers are Microsoft and Meta Platforms, and its stock had experienced a pullback after those companies reported their June-quarter results. The positive outlook eases investors’ concerns over the capital spending plans of major customers like Microsoft and Meta Platforms

Arista is considered as one of the AI stocks to watch, as internet data centers require more computing power and network bandwidth to process AI workloads. This growing demand in the AI sector may further boost Arista's prospects.

4. $Novavax(NVAX)$ +13.17% as investors anticipate increased demand for Nuvaxovid

The news of a new COVID-19 surge led to increased demand for COVID-19 vaccines as people and governments become concerned about the potential impact of the virus. Investors reacted to this news by buying shares of Novavax in anticipation that their vaccine, Nuvaxovid, would be in high demand in the new fight against the disease.

Novavax's Nuvaxovid vaccine has received Emergency Use Authorization from the U.S. Food and Drug Administration (FDA). This designation allows the vaccine to be used during public health emergencies, such as the COVID-19 pandemic. Investors may view this as a positive sign for the company, as it means Nuvaxovid can be distributed and used to combat the virus.

 How do you view the top movers?

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