DELL, ULTA, AMBA, GAP and more

From CNBC: 2024-05-31 08:53:05

Dell Technologies CEO Michael Dell spoke about new strategies on the first day of the Mobile World Congress in Barcelona, Spain. In premarket trading, Dell’s stock fell 16% due to anticipated margin pressure despite beating first-quarter earnings. Lionsgate Studios soared 11% after being initiated with a buy rating. Zscaler’s cloud security stock rose 16% after exceeding analyst expectations for earnings and revenue in the fiscal third quarter.

Nordstrom’s department store stock dropped 5% after reporting a wider-than-expected first-quarter loss. The company maintained its full-year earnings forecast, highlighting strong growth in the Nordstrom Rack segment. Gap’s shares jumped 25% following a first-quarter earnings beat and an increased full-year operating income forecast. Ambarella’s chipmaker stock rose 18% due to forecasted revenue growth and a smaller-than-expected first-quarter loss.

Ulta Beauty’s shares increased by nearly 9% as its CEO outlined plans to improve sales. Marvell Technologies saw a 2% decline after releasing in-line revenue guidance but slightly lower-than-expected adjusted earnings per share estimates. MongoDB’s technology company shares fell 23% following below-expectation second-quarter guidance. SentinelOne’s cybersecurity stock dropped over 13% due to a softer full-year revenue outlook. VF Corp shares rose 7% after announcing Michelle “Sun” Choe as the new global brands president for Vans. NetApp’s stock rose over 2% after surpassing fourth-quarter earnings estimates and issuing a strong forecast.

Read more: DELL, ULTA, AMBA, GAP and more