Several companies made headlines in after-hours trading, with Ulta Beauty’s shares falling nearly 7% after missing top and bottom line expectations in the second quarter. Ulta’s earnings were reported at $5.30 per share, lower than the $5.46 per share expected by analysts, with revenue of $2.55 billion also falling short of the forecasted $2.61 billion. Additionally, the company trimmed its full-year outlook, which further impacted investor sentiment.
On the other hand, MongoDB saw its shares rise by nearly 13% after issuing strong fiscal third-quarter guidance. The database company forecasted adjusted earnings of 65 to 68 cents per share on revenue of $493 million to $497 million, surpassing analysts’ expectations of 60 cents per share in earnings and $479 million in revenue. This positive outlook contributed to the significant increase in MongoDB’s stock price.
Dell Technologies also experienced a spike in its shares, jumping 3.6% after beating quarterly expectations. The tech company reported fiscal second-quarter adjusted earnings of $1.89 per share, higher than analysts’ expectations of $1.71 per share, along with revenue of $25.03 billion, surpassing the forecasted $24.53 billion. This strong performance by Dell Technologies garnered investor interest and drove up its stock price.
Meanwhile, Marvell Technology saw a significant increase of nearly 9% in its shares after issuing fiscal third-quarter guidance that exceeded analysts’ expectations. The semiconductor company forecasted adjusted earnings of 40 cents per share on revenue of $1.45 billion, surpassing the anticipated 38 cents per share in earnings and $1.40 billion in revenue. This positive guidance and outlook from Marvell Technology led to the surge in its stock price.
Lululemon Athletica added 6% to its shares after posting better-than-expected earnings but lackluster revenue for the second quarter. The athletic apparel retailer reported earnings of $3.15 per share on revenue of $2.37 billion, exceeding the expected $2.93 per share in earnings but falling short of the forecasted $2.41 billion in revenue. Despite mixed results, investors reacted positively to Lululemon’s performance, driving up its stock price.
On the other hand, Elastic NV’s shares tanked by 23% after issuing a weak outlook for fiscal second-quarter revenue. The artificial intelligence search company forecasted revenue of $353 million to $355 million, lower than analysts’ estimate of $361 million. Additionally, its full-year revenue guidance was also soft, contributing to the significant drop in Elastic’s stock price. However, the fiscal first-quarter results topped Wall Street’s expectations, providing some positive momentum amidst the disappointing outlook.
