Why Is CXApp (CXAI) Stock Up 65% Today?

InvestorPlace

CXApp stock is climbing higher on Tuesday after the workplace experience platform signed an expansion agreement with Alphabet’s Google Cloud.

CXApp notes that this is a multi-year, multi-million dollar strategic agreement with Google Cloud. The company says it will focus on the development of advanced artificial intelligence (AI) infrastructure, security and application products.

To go along with that, Google Cloud is co-investing in CXApp. It’s doing so as part of the ongoing deployment, monitoring and modernization of the CXAI platform.

Khurram Sheikh, chairman and CEO of CXApp, said the following about the agreement with Google Cloud.

“The Google Cloud agreement positions us to deliver our commitments to our customers. We are super-excited about this partnership as it provides us access to all the latest Google AI innovations that we plan on adapting to revolutionize the workplace market with amazing employee experiences.”

How This Affects CXAI Stock Today

With this news comes heavy trading of CXAI stock on Tuesday morning. That has more than 6 million shares changing hands as of this writing. This is well above the company’s daily average trading volume of about 614,000 shares.

CXAI stock is up 64.6% as of Tuesday morning.

Investors will want to stick around for even more of the most recent stock market stories.

We have all of the hottest stock market news that traders need to know about on Tuesday. Among that is what has shares of Vicinity Motor stock up today and the biggest pre-market stock movers this morning. All of this news is ready to go at the links below!

More Stock Market News for Tuesday

Why Is Vicinity Motor (VEV) Stock Up 141% Today?
Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Top Premarket Gainers

MT Newswires

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Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday

InvestorPlace

It’s time to dive into the biggest pre-market stock movers for Tuesday as we check out all of the hottest news moving shares this morning.

Moving stocks are several new deals, delisting notices and more.

Let’s get into that news below!

Biggest Pre-Market Stock Movers: 10 Top Gainers

Vicinity Motor stock is rocketing more than 153% alongside heavy pre-market trading.
CXApp shares are soaring over 61% after signing an expansion deal with Google Cloud.
MKDWell Tech M stock is surging more than 57% alongside new investment news.
Pono Capital Two shares are rising over 37% on a proposed merger plan.
Psychemedics stock is increasing more than 20% on plans to delist its shares.
Hesai shares are climbing over 19% without any clear news.
Roadzen stock is heading more than 18% higher despite a lack of news today.
QT Imaging shares are getting an over 17% boost on Tuesday morning.
Adagio Medical A stock is jumping more than 17% without any recent news.
GCT Semiconductor shares are up over 17% after signing an agreement with Samsung.

10 Top Losers

Syros Pharmaceuticals stock is crashing more than 58% on a Phase 2 clinical trial update.
PS International P shares are diving over 21% after a massive rally yesterday.
SunPower stock is tumbling more than 19% on a Nasdaq delisting notification.
Greenlane G shares are taking an over 18% beating after rallying yesterday on Safety Strips news.
Surf Air Mobility stock is sliding more than 18% after announcing an artificial intelligence (AI) joint venture.
HNR Acquisition shares are decreasing close to 16% on a proposed secondary offering.
FSD Pharma stock is retreating over 15% after a Monday rally.
Interactive Strength shares are dropping more than 15% following a rally yesterday.
Yatra Online stock is falling over 14% on a mixed earnings report.
Conifer shares are down more than 12% ahead of an earnings conference call tomorrow.

Why Rumble Shares Are Trading Higher By Around 7%; Here Are 20 Stocks Moving Premarket

Benzinga

Shares of Rumble Inc. rose sharply in today's pre-market trading following better-than-expected second-quarter financial results.

Rumble reported second-quarter revenue of $22.5 million, up 27% sequentially. The revenue figure beat a Street consensus estimate of $19.69 million, according to data from Benzinga Pro. The company reported a loss of 13 cents per share, which beat a Street consensus estimate of a loss of 15 cents per share.

Rumble shares jumped 7.1% to $6.16 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

Vicinity Motor Corp. rose 136.7% to $0.2353 in today's pre-market trading after dipping around 14% on Monday.
MKDWELL Tech Inc. M gained 54.1% to $1.71 in pre-market trading after falling 17% on Monday.
CXApp Inc. shares rose 54.1% to $2.28 in pre-market trading after the company reported highlights from the second quarter and announced a multi-year agreement with Alphabet Inc's Google Cloud.
Plby Group Inc gained 25.5% to $0.74 in pre-market trading. PLBY Group, last week, reported worse-than-expected second-quarter financial results.
Hesai Group gained 22.2% to $4.35 in pre-market trading. Hesai Group is expected to report second quarter financial results on Monday, Aug. 19.
Psychemedics Corporation gained 20.5% to $2.22 after the company announced that it approved a plan to cease the registration of its stock under the federal securities laws following the completion of a proposed reverse stock split and to delist its shares of common stock from trading on the Nasdaq.
Orgenesis Inc jumped 18.3% to $0.80 in pre-market trading after declining 7% on Monday.
HUYA Inc. gained 8.5% to $4.84 in pre-market trading after the company reported second-quarter results and declared a special dividend of $1.08 per ADS.
PACS Group, Inc. shares gained 8.2% to $35.00 in pre-market trading following a second-quarter revenue beat.

Losers

Syros Pharmaceuticals, Inc. shares declined 56.4% to $2.18 in pre-market trading as the company announced plans to discontinue enrollment in SELECT-AML-1 Phase 2 clinical trial.
SunPower Corporation shares dipped 21.5% to $0.1570 in pre-market trading. SunPower revealed the receipt of notice from Nasdaq about delisting company’s common stock.
PS International Group Ltd. P declined 20.9% to $1.82 in pre-market trading after jumping around 128% on Monday.
Greenlane Holdings, Inc. G shares declined 18.8% to $9.33 in pre-market trading. On Monday, Greenlane announced the pricing of $6.5 million private placement priced at-the-market under Nasdaq rules.
FSD Pharma Inc. shares fell 15.2% to $0.1102 in pre-market trading after dipping 35% on Monday.
Yatra Online, Inc. shares fell 14.2% to $1.33 in pre-market trading after reporting weak quarterly sales.
Conifer Holdings, Inc. fell 13.3% to $1.04 in pre-market trading. Conifer Holdings is exp to hold second quarter earnings conference call on Aug. 144.
On Holding AG fell 8.6% to $36.15 in today's pre-market trading following mixed second-quarter financial results.
Viasat, Inc. fell 7.5% to $19.99 pre-market trading after declining 5% on Monday.
Tencent Music Entertainment Group shares fell 6.3% to $12.30 in pre-market trading following a second-quarter revenue miss.

Now Read This:

Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday

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CXApp Signs Multi-Year, Multi-Million Dollar AI Agreement With Google Cloud

MT Newswires

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CXAI Stock Earnings: CXApp Reported Results for Q2 2024

InvestorPlace

CXApp just reported results for the second quarter of 2024.

CXApp reported earnings per share of -34 cents.
The company reported revenue of $1.77 million.

InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

CXAI: Net loss narrowed to $5.26M on higher gross margin as SaaS revenue mix increased

Quartr

Q2 2024 revenue declined to $1.77M as CXApp shifted to a SaaS model, but gross margin rose to 80% and net loss narrowed to $5.26M. Recent funding and cost reductions support liquidity for at least 12 months.

Original document: CXApp Inc. [CXAI] SEC 10-Q Quarterly Report — Aug. 12 2024

Disclaimer

This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.

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