Market Insider

After-hours buzz: Applied Materials, Gap, Ross & more


Check out the companies making headlines after the bell on Thursday:

Applied Materials' stock rose more than 5 percent after it beat earnings and revenue estimates for its fiscal second quarter. The semiconductor materials maker's earnings came in at 34 cents per share, ex-items, versus expectations of 32 cents per share. It saw $2.45 billion in sales, compared with a forecast of $2.43 billion.

It also said it expects adjusted earnings of 46 to 50 cents for its third quarter, compared with expectations of 36 cents.

Ross Stores' stock fell nearly 7 percent after it reported earnings that met expectations but disappointed Wall Street on sales and guidance. Earnings were in line with the expected 73 cents per share, but sales of $3.09 billion fell just short of the estimated $3.12 billion.

The company also gave a weak outlook for its second quarter and full-year earnings.

Pedestrians walk past a Gap Inc. store in New York.
Gap reports earnings in line with Street expectations, announces 75 store closings

Gap shares climbed more than 3 percent after the retailer reported first-quarter results and said it would close 75 OId Navy and Banana Republic stores. Earlier this month, the company gave earnings guidance and reported preliminary first-quarter revenue and comparable-store sales figures.

Earnings reported Thursday met expectations of 32 cents per share, while revenue of $3.44 billion slightly missed the forecast of $3.51 billion.

Shares of Brocade Communications slid more than 4 percent after the company missed sales estimates for its fiscal second quarter. Revenue came in at $523 million, versus an expected $531 million.

Earnings of 22 cents per share, ex-items, met expectations.

Autodesk shares dipped slightly in light trading after the company posted a smaller-than-expected quarterly loss and fell just short of revenue estimates. It posted a loss of 10 cents per share, ex-items, on $512 million in revenue.

Guidance for the second quarter came in light.