The last afternoon of Q1 earnings season saw mixed performance with some companies beating expectations

From Nasdaq: 2024-05-30 18:53:00

The markets have seen a mix of performance in May, with the Nasdaq climbing higher while the Dow and S&P remain range-bound. Ahead of the big data release tomorrow, investors are selling off. The PCE report is expected to show moderation in inflation, causing uncertainty in the markets.

In the final afternoon of Q1 earnings season, Costco beat expectations with strong earnings and revenues, while Nordstrom missed on the bottom line but showed growth in Nordstrom Rack. Ulta Beauty surpassed estimates on both top and bottom lines, while The Gap outperformed with record revenue gains.

Tech companies reporting this afternoon include Zscaler, which exceeded expectations on earnings and revenues, causing shares to soar. Dell beat earnings and saw record revenue gains, but shares tumbled in the after-market. MongoDB beat on earnings and revenues but provided disappointing guidance, leading to a selloff in shares.



Read more at Nasdaq: Last Big Afternoon of Q1 Earnings Season