PRISM Analysis: The Latest in Wednesday Afternoon Trading

US equities remained mostly unchanged in uneventful Wednesday afternoon trading, with small caps stocks standing out. Other outperformers include autos, retail, airlines, travel and leisure.

Notable gainers this afternoon are SentinelOne ($S), which rose +19.9% ahead of Q3 results which expect to focus on strong execution, double-digit net new ARR growth, continued outperformance in cloud security and the upcoming AI product cycle. Dave & Buster’s Entertainment ($PLAY) is up +10.6% after it beat Q3 EPS. Analysts are positive on the company’s turnaround story in spite of it missing on revenue and EBITDA, cost of sales and operating margins.Avis Budget Group ($CAR) was up +9.1% following the announcement of a special dividend of $10 per share. Signet Jewelers ($SIG) is up +6.5% after being upgraded to Buy from Neutral at Citi.

This afternoon’s decliners include Asana, Inc. ($ASAN), down (14.5%) in spite of beating Q3 EPS, operating income, and revenue. The company was downgraded to Reduce from Hold at HSBC. Brown-Forman ($BF-B) lost (10%) after missing FQ2 EPS and revenue and lowering FY guidance for organic operating income growth and net sales. The company cited global macro conditions for the challenging operating environment. InMode ($INMD) was down (9.1%) and British American Tobacco ($BTI) fell by (8.8%) following a strategic update stating the company expects low-single digit revenue driven by macro-economic pressures on the combustibles market and a lack of regulatory action on illicit disposable vapes.