Stocks making the biggest moves after hours: Nordstrom, Gap, VMware, HP and more
Check out the companies making headlines after the bell:
Nordstrom — Shares of the department store chain tumbled roughly 20% following its quarterly results. Nordstrom reported earnings of 39 cents per share, well below the 56 cents expected by analysts. Labor costs ate into profits and sales and Nordstrom Rack, its off-price division, has struggled to return to pre-pandemic levels, the company reported.
Gap — The apparel retailer saw its shares drop more than 15% after missing profit and revenue expectations for its fiscal third-quarter. It also slashed its full-year revenue outlook from a 30% increase to a 20% increase, compared with analysts' expectations of a 28.4% year-over-year gain, according to Refinitiv.
HP — The computer hardware company saw shares jump about 6% following its quarterly results. HP reported earnings of 94 cents per share on revenue of $16.68 billion, beating analysts' estimates of 88 cents per share on revenue of $15.4 billion, according to Refinitiv. It also raised its first quarter guidance to a range of 99 cents to $1.05 per share, compared with the 94 cents per share expected by analysts.
VMware — Shares of cloud computing company VMware got a 1% lift after the company reported a quarterly beat on the top and bottom lines. VMware recorded $1.72 per share in earnings, beating expectations by 18 cents, and $3.19 billion in revenue, topping estimates of $3.12 billion.
Autodesk — The software company's shares fell more than 13% despite reporting a beat on the top and bottom lines for its most recent quarter. Autodesk issued fourth quarter earnings and revenue guidance that were largely below estimates.