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Benzinga
Benzinga
Business
Wayne Duggan

UNBELIEVABLE: Tupperware brands sofi technologies insiders made big stock purchases ahead of q2 earnings beats | History Defined

SOFI Tupperware Tupperware Brands Anthony Noto Nasdaq NYSE SoFi Technologies Inc

Shares of Tupperware Brands Corporation (NYSE:TUP) gained 36% on Wednesday, while shares of SoFi Technologies Inc (NASDAQ:SOFI) jumped 24% after the two companies reported better-than-expected second-quarter earnings numbers. The big quarters provided investors with some much-needed relief after extended periods of underperformance for both Tupperware and SoFi, but recent insider purchases in both stocks suggest the strong performance wasn't necessarily a surprise for the two companies' management teams.

Tupperware reported second-quarter adjusted EPS of 41 cents on revenue of $340.4 million, Both numbers exceeded consensus analyst estimates of 25 cents and $330.2 million, respectively. Revenue was down 18% from a year ago.

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