Here are the stocks making notable moves in extended trading on Tuesday.
Salesforce — Shares of the software giant rose 6% after Salesforce issued stronger-than-expected first-quarter results. The company reported 98 cents in adjusted earnings per share on $7.41 billion of revenue. Analysts surveyed by Refinitiv were expecting 94 cents per share and $7.38 billion of revenue. Forward guidance, however, was mixed, with second-quarter projections for earnings and sales coming in below estimates.
Ambarella — The chip stock fell more than 7% after Ambarella's revenue guidance for the second quarter came in below analyst expectations. The company's CEO said in a release that Ambarella's near-term outlook was being hurt by the Covid wave in China. First-quarter results, however, were better than expected.
Victoria's Secret — The apparel stock gained about 4% after Victoria's Secret topped earnings estimates for the first quarter. The company earned an adjusted $1.11 in earnings per share, which was 27 cents per share higher than analysts surveyed by Refinitiv were expecting. Revenue, however, was in-line with expectations, and second-quarter guidance for earnings came in below estimates.
- HP — The hardware stock rose slightly after HP posted better-than-expected results for its fiscal second quarter. The company reported $1.08 in adjusted earnings per share on $16.49 billion of revenue. Analysts surveyed by Refinitiv were expecting $1.05 per share on $16.17 billion of revenue.