After-hours trading can often be a volatile time in the US stock market, as companies release their earnings reports and investors react to the results. The most recent session was no exception, with several major companies making significant moves following their earnings announcements.
Ulta Beauty
Shares of Ulta Beauty fell nearly 7% after the beauty retailer missed both top and bottom line expectations for the second quarter. The company reported earnings of $5.30 per share, which fell short of the $5.46 per share expected by analysts surveyed by LSEG. Revenue also disappointed, coming in at $2.55 billion versus the $2.61 billion forecast. Adding to investor concerns, Ulta trimmed its full-year outlook, contributing to the stock’s decline in after-hours trading.
MongoDB
In contrast, MongoDB saw its shares rise nearly 13% after issuing strong guidance for its fiscal third quarter. The database company forecasted adjusted earnings of 65 to 68 cents per share on revenue of $493 million to $497 million, exceeding analyst expectations of 60 cents per share and $479 million in revenue. This optimistic outlook sent MongoDB’s stock surging in after-hours trading.
Dell Technologies
Dell Technologies also saw positive movement, with shares jumping 3.6% after the company reported better-than-expected results for its fiscal second quarter. Dell posted adjusted earnings of $1.89 per share, surpassing the $1.71 per share anticipated by analysts polled by LSEG. The company’s revenue of $25.03 billion also came in ahead of the $24.53 billion forecast, further boosting investor confidence.
Marvell Technology
Marvell Technology experienced a strong after-hours performance, with shares rising nearly 9%. The semiconductor company issued guidance for its fiscal third quarter that exceeded analyst expectations. Marvell forecasted adjusted earnings of 40 cents per share on revenue of $1.45 billion, beating the 38 cents per share and $1.40 billion in revenue anticipated by analysts. This optimistic guidance fueled the stock’s after-hours gains.
Lululemon Athletica
Shares of Lululemon Athletica added 6% in after-hours trading following the company’s release of its second-quarter earnings. While Lululemon reported better-than-expected earnings of $3.15 per share, exceeding the $2.93 per share predicted by analysts, its revenue of $2.37 billion fell short of the $2.41 billion forecast. Despite the revenue miss, the earnings beat was enough to boost the stock in after-hours trading.
Elastic NV
On the downside, Elastic NV saw its shares tank by 23% after issuing a weak outlook for its fiscal second-quarter revenue. The artificial intelligence search company forecasted revenue between $353 million and $355 million, below the $361 million expected by analysts. The company also provided soft full-year revenue guidance, overshadowing its fiscal first-quarter results, which had topped Wall Street’s expectations.
As always, after-hours trading can present significant opportunities and risks as investors digest new information. These moves highlight the importance of earnings reports and guidance in shaping market sentiment outside of regular trading hours.