Ulta, Gap, Dell and more
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Look at the top companies that made headlines following the bell:
Ulta Beauty — Shares surged more than 6% after hours as the beauty retailer’s quarterly report beat Wall Street estimates on the top and bottom lines. Ulta Beauty reported adjusted earnings for the first quarter of $6.30 per share based on $2.346 billion in revenue. According to Refinitiv, analysts had predicted a profit at $4.46 per shares on revenues of $2.122 trillion. Refinitiv also reported that the company issued better than expected forward guidance for next year.
Gap — The retail stock sank about 13% in extended trading after Gap slashed its profit outlook for the year.Old Navy was unhappy with the results because Gap management stated that the segment’s customers of lower income are under the effects of inflation.
Costco — Shares fell more than 2% post market despite the wholesale retailer posting better-than-expected quarterly sales. Costco’s revenue was $52.596 billion, which is higher than the Refinitiv consensus estimate (51.707 billion).
Dell — The laptop maker rose more than 5% in extended trading after Dell reported a revenue beat in the first quarter. Refinitiv’s consensus estimate was $25.043 trillion, but Dell generated $26.12 billion.
Marvell Technology — Shares ticked up 2.2% after hours as the semiconductor company reported strong quarterly results. Marvell posted adjusted earnings for the first quarter of $0.52 per share, on $1.447 billion in revenue. Refinitv reports that analysts expected to earn $0.51 on revenues of $1.427 trillion.
American Eagle — The stock dropped more than 10% after the retailer posted weaker-than-expected quarterly revenue. American Eagle posted $1.055 billion revenue, which is more than the Refinitiv consensus estimate (1.142 billion).