Stocks making the biggest moves after hours: Affirm, Gap, Marvell and more
Check out the companies making headlines in extended trading on Thursday.
Affirm Holdings — The stock added 10.8% after its quarterly results came in better than expected. Affirm posted a loss of 69 cents per share on revenue of $446 million. Analysts polled by Refinitiv had estimated a loss of 85 cents per share on $406 million in revenue. The CEO cited sequentially improved credit results and accelerated growth.
Nordstrom — Shares fell nearly 4% after the company reported an earnings and revenue beat in the second quarter. To be sure, sales fell 8.3% from the year-ago quarter.
Gap — Shares rose almost 2% in spite of a mixed quarterly report. Gap posted 34 cents per share, after adjustments, beating Refinitiv estimates of 9 cents per share. Revenue, however, missed expectations. The clothing retailer reported $3.55 billion in revenue, shy of the $3.57 million estimate. Management reported a significantly improved inventory position, but expects revenue in the third quarter to decline at a low double-digit pace year-over-year, compared with analyst forecasts of a 6.8% decline.
Marvell Tech — Shares of the chipmaker tumbled more than 5% even as the company's quarterly results topped Wall Street's estimates. Earnings per share came in at 33 cents, excluding items, while analysts polled by Refinitiv had estimated 32 cents per share. Marvell posted $1.34 billion in revenue, compared with analyst estimates of $1.33 billion.
Ulta Beauty — The beauty retailer's shares gained more than 2% after its second-quarter results came in better than expected. Ulta earned $6.02 per share on $2.51 billion in revenue. Analysts had forecasted earnings of $5.85 per share on $2.51 billion in revenue, according to Refinitiv. The company also raised its full-year forecast.
Intuit — Shares fell more than 2% despite the company reporting fiscal fourth-quarter earnings that beat on both the top and bottom lines. Intuit's revenue guidance for the current quarter came in below estimates. The company expects first-quarter revenue to rise between 10% and 11%, while analysts had estimated 13% growth.
Workday – The cloud-based enterprise management jumped 4% after posting a beat on the top and bottom lines in the second quarter. The company also raised its fiscal 2024 subscription revenue forecast.