Stocks making the biggest moves after hours: Gap, Marvell Technology, RH, Ulta and more
Check out the companies making headlines in after-hours trading.
Gap — Shares surged 15% in the postmarket following the retailer's earnings report, which showed a major improvement in margins. Revenue was a hair below expectations, coming in at $3.28 billion, while analysts polled by Refinitiv anticipated $3.29 billion.
Costco — Shares slipped 0.2% after the retailer posted a miss on revenue, recording $53.65 billion for its fiscal third quarter while analysts forecast $54.57 billion, per Refinitiv. Costco saw $3.43 in adjusted earnings per share, higher than the $3.29 anticipated by analysts.
Ulta Beauty — Shares of Ulta fell 8% in extended trading after the cosmetics retailer reaffirmed guidance for earnings and comparable sales for the full year. Ulta slightly raised its outlook for revenue for the year. The company posted earnings of $6.88 per share on $2.63 billion in revenue. Analysts called for earnings of $6.87 per share and revenue of $2.62 billion, according to Refinitiv.
Workday — The cloud stock added 7% after hours following a strong earnings report and its announcement of a new chief financial officer. Workday reported $1.31 in adjusted earnings per share, while analysts polled by Refinitiv estimated $1.12. The company also narrowly beat expectations for revenue, coming in at $1.68 billion against a $1.67 billion forecast. Workday also announced Zane Rowe, most recently chief financial officer of VMware, would be the finance chief starting next month.
Marvell Technology — Shares jumped 14% in post-bell trading after the semiconductor producer beat analysts' expectations for its first quarter. Marvell notched 31 cents in adjusted earnings per share on $1.32 billion in revenue, while analysts polled by Refinitiv estimated 29 cents per share and $1.3 billion in revenue. The company also said revenue growth should accelerate in the second half of the fiscal year.
RH — Luxury retailer RH slipped 3% after hours as weak guidance for the current quarter pulled attention from strong first-quarter earnings. The company said to expect between $765 million and $775 million in revenue in the current quarter, lower than the Street's estimate of $784 million, according to Refinitiv. Still, RH beat expectations on revenue in the first quarter, posting $739 million compared with analysts' forecast of $727 million.
— CNBC's Darla Mercado contributed reporting.