Zscaler, Beyond Meat Weigh on the Nasdaq's Friday Recovery
Stock market investors remained on edge Friday morning, but their worst fears about the immediate impact of the Russian invasion of Ukraine on global markets appeared not to come to pass, at least for now. After having been down more than 3% at times on Thursday, the Nasdaq Composite (NASDAQINDEX: ^IXIC) ended sharply higher, and Nasdaq futures were up almost another 1% as of 8:45 a.m. ET Friday.
However, despite widespread gains among beaten-down Nasdaq growth stocks, there were still a couple of disappointments on the earnings front. Zscaler (NASDAQ: ZS) and Beyond Meat (NASDAQ: BYND) reported their latest financial results late Thursday, and both companies left their shareholders wishing for a rosier outlook for their respective businesses.
Shares of Zscaler fell more than 13% in premarket trading Friday. The move resulted in the cloud security specialist giving back all of its 10% gain from Thursday and then some, with investors reacting negatively to Zscaler's fiscal second-quarter financial report.
Source Fool.com
