3 Stocks to Watch on Wednesday: Barracuda Networks Inc (CUDA), Blackhawk Network Holdings Inc (HAWK) and Delta Air Lines, Inc. (DAL)

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U.S. stocks are slipping as we head into earnings season, while crude oil prices fell 1%, or 52 cents. The S&P 500 Index lost 1.2%, the Dow Jones Industrial Average slumped 1.1% and the Nasdaq Composite declined 1.5%.

CUDAWednesday’s stocks to look out for include Barracuda Networks Inc (NYSE:CUDA), Blackhawk Network Holdings Inc (NASDAQ:HAWK) and Delta Air Lines, Inc. (NYSE:DAL).

Here’s how they did:

Barracuda Networks (CUDA)

Barracuda Networks reported its quarterly earnings total.

In the most recent period, the IT security provider posted earnings amounting to 21 cents per share. Wall Street expected earnings of 13 cents a share.

Revenue came in ahead of estimates as well at $88 million, ahead of the $85 million analysts had called for on the company’s second quarter.

For its current third quarter, analysts predict that Barracuda will experience a 7% year-over-year increase to $85 million. Earnings may be 68% higher at 12 cents a share.

The company works in securing public, private and hybrid cloud functionalities. Barracuda CEO BJ Jenkins believes the company is gaining momentum as it readies itself to raise its status in the network solutions industry.

CUDA stock popped 6.8% after the bell.

Blackhawk Network Holdings Inc (HAWK)

Blackhawk Network Holdings updated its fiscal 2016 outlook Tuesday.

For the full year, the prepaid gift cards provider will earn $2.52 to $2.71 per share, which is in line of the $2.57 per share that Wall Street projects.

Revenue will be in the range of $1.95 billion to $2.02 billion. Analysts have stated that net sales for Blackhawk Networks will be around $1.99 billion.

The company’s last quarterly earnings report came on Tuesday, when it earned 13 cents per share, beating the consensus estimate by four cents.

Blackhawk Networks’ business focuses on offering prepaid gift cards, telecom and debit cards, both in physical and electronic forms.

HAWK shares surged 2.1% after hours yesterday.

Delta Air Lines, Inc. (DAL)

Unlike the previous two companies, Delta Air Lines did not report on its earnings yesterday.

Instead, the airline announced a change in management as chairman and former CEO Richard Anderson stepped down. The move was unexpected considering the fact that Delta Air Lines often makes a strong profit when reporting its financials.

Anderson had a reputation of being a team worker who was liked by his peers. He led the company as CEO from 2001 to 2004, helping to complete Delta’s merger with Northwest Airlines.

The company has yet to comment on the move and whether he made the decision to leave or was pushed out.

Delta has a market capitalization of about $30 billion, which is significantly more than competitors United Continental Holdings Inc (NYSE:UAL) which stands at $17 billion, as well as American Airlines Group Inc (NASDAQ:AAL) which has a cap of $21 billion.

DAL stock gained 0.4% after Tuesday’s market close.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/3-stocks-to-watch-on-wednesday-barracuda-networks-cuda-blackhawk-network-holdings-inc-hawk-and-delta-air-lines-inc-dal/.

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