Why Axon Enterprise, TrueCar, and Chuy's Holdings Jumped Today

The stock market finished the week on a quiet note, with major benchmarks ending the session on Friday close to where they started the day. Investors took a step back from recent enthusiasm about trade hopes in light of comments from President Trump, but the mood of the market was still largely positive. Earnings reports also lent some good cheer to sentiment. Axon Enterprise (NASDAQ: AAXN), TrueCar (NASDAQ: TRUE), and Chuy's Holdings (NASDAQ: CHUY) were among the top performers. Here's why they did so well.

Shares of Axon Enterprise soared nearly 25% after the maker of Taser stun guns reported strong third-quarter results. Revenue jumped 25% to a record high, and Axon had solid gains in both its Taser segment and its software and sensors business. In particular, the company's cloud-generated sales rose 42% year over year, and sales of products like body cameras sent sensor segment revenue climbing 45% from year-ago levels. As recurring revenue continues to increase, Axon is making a key transformation away from its original hardware-oriented focus, and that should bode well for the company well into the future.

Image source: Axon Enterprise.

Source Fool.com