After-hours buzz: Gap, Pandora, Ross Stores & more
Check out which companies are making headlines after the bell Thursday:
Gap reported second-quarter earnings of 64 cents per share as revenue rose 8 percent to $3.87 billion. Analysts were looking for earnings of 64 cents per share on revenue of $3.83 billion. Same-store sales climbed 5 percent. The apparel retailer raised its full-year earnings guidance to $2.57 to $2.62 per share and increased its dividend. The stock rose in late trading.
Pandora Media shares tumbled in late trading after the online- radio company issued disappointing guidance. The company sees third-quarter earnings excluding items of 3 cents to 6 cents per share on revenue of $174 million to $179 million. Analysts were looking for earnings of 8 cents per share on revenue of $170.5 million. Second-quarter earnings of 4 cents per share were better than anticipated.
Teen retailer Aeropostale, meanwhile, reported a loss of 34 cents per share excluding items for its second quarter, wider than the 24-cent loss analysts had expected. Net sales fell 6 percent and same-store sales were down 15 percent from a year ago. For the third quarter, Aeropostale sees a net loss of 21 cent to 26 cents per share. It will also speed up store closings. The stock tanked in late trading.
Ross Stores, the off-priced retailer, posted second-quarter earnings of 98 cents per share, beating forecasts for 93 cents as same-store sales rose 4 percent. The company anticipates full-year earnings of $3.80 to $3.87 per share. Wall Street was looking for $3.89 per share. The stock was up modestly in after-hours trading.
Turning to technology, Marvell Technology reported second-quarter earnings of 23 cents per share on revenue of $807.1 million. The Street was looking for 19 cents per share on revenue of $791.3 million. Guidance was also better than anticipated. The chip company sees earnings of 23 cents to 27 cents per share versus estimates for 24 cents per share, sending the stock higher in late trading.
Software firm Autodesk reported earnings of 27 cents per share for the second quarter, as revenue fell 1.2 percent to $561.7 million. Its outlook was disappointing, however, with the company anticipating earnings of 19 cents to 23 cents per share, below forecasts for 50 cents per share. The stock was down in extended hours trading.
Networking-equipment maker Aruba Networks posted fiscal fourth-quarter earnings of 12 cents per share on sales of $153.1 million. Wall Street analysts were looking for 11 cents per share on revenue of $148.3 million.
In other news, medical-devices company Medtronic raised its quarterly dividend 7.7 percent.