Despite Insider Trading, Synergy Through Acquisition And Better Projection On Financial Performance Fuel The Stock Soar
Shares of IT project management software company, Atlassian (NASDAQ:TEAM) jumped 5.4% in the afternoon session as equities soared (Nasdaq +1.2%, S&P 500 +0.9%) after The Bureau of Labor Statistics reported nonfarm payrolls for September 2024, which exceeded expectations. Notably, nonfarm payrolls increased by 254,000, significantly surpassing the consensus estimate of 150,000. In addition, the unemployment rate clocked in at 4.1%, slightly below analysts' expectations of 4.2%.
ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market. However, after a 50 […]