Salesforce, Five Below, Okta, Costco, etc

A shopper loads a car with bottled water at Costco Wholesale in Chingford, England March 15, 2020.

John Sibley | Reuters

Check out the companies making headlines in afternoon trading.

Salesforce — Shares of the cloud-based software company fell more than 9% after announcing the sudden departure of the firm’s CEO, Bret Taylor. The Dow dragged the 30-share moving average lower during Thursday’s selloff. However, Salesforce reported earnings and revenue for the most recent quarter that beat analysts’ expectations.

Costco — Shares of retailer Costco fell nearly 6% after the company reported softer-than-expected sales numbers for November, which may indicate consumers are heading into the holiday shopping season weakly. The company said November sales rose 5.7% to $19.17 billion, less than the growth seen in October and September.

Snowflake — Shares of Snowflake gained more than 4% after analysts at Morgan Stanley and MoffettNathanson reiterated their bullish views on the stock’s long-term outlook. The cloud data platform provider reported earnings that beat expectations but provided light revenue guidance, sending shares lower after Wednesday.

Okta — Shares of the identity management software provider surged more than 23% after the company shared a better-than-expected forecast and beat Wall Street estimates for the latest period. Analysts had expected a loss of 24 cents for the quarter.

Five below – Shares of the discount retailer rose more than 13% after Five Below beat estimates on the top and bottom lines for the latest quarter. The company reported earnings of 29 cents per share on revenue of $645 million. Analysts polled by Refinitiv had expected earnings of 14 cents per share and revenue of $613 million. Fourth quarter guidance also beat expectations. CEO Joel Anderson said in a statement that ticket and operating performance improved during the third quarter.

Victoria’s Secret — Shares of Victoria’s Secret fell 4% after reporting mixed results in its most recent quarter. The underwear company reported earnings of 29 cents per share on revenue of $1.32 billion. Analysts polled by Refinitiv had expected earnings of 23 cents per share on revenue of $1.33 billion. JPMorgan downgraded the stock from overweight to neutral after the results, citing problems with the company’s core business.

PVC — Shares rose 10% after PVH beat Wall Street expectations and posted strong quarterly guidance and said it expects full-year revenue to finish at the high end of its expected range.

Whimsical — Shares of Splunk added 13% on solid quarterly results and a positive full-year outlook. The company also noted the benefits of cost reductions.

Designer Brands – Shares of the shoe retailer tumbled 22% after reporting quarterly profit and revenue that missed Wall Street estimates. It also lowered its profit forecast, citing an unstable economic environment.

Dollar General – The discount retailer saw its shares fall more than 8% after posting earnings for the latest quarter, which missed analysts’ expectations of 21 cents per share and lowered its full-year forecast due to higher costs.

Aclaris Therapeutics — Shares rose 3.5% after Goldman Sachs entered coverage with a buy rating on Aclaris Therapeutics. The firm said the biopharma stock could rise more than 60% on a possible new treatment for immuno-inflammatory diseases.

Nutanix — According to Bloomberg, Nutanix shares gained 5.8% Hewlett Packard Enterprise recently held potential acquisition talks with the cloud computing company, according to sources familiar with the situation.

Land’s End — Shares fell 30% after the apparel retailer posted an unexpected loss for the latest quarter and revenue fell short of analysts’ expectations.

Ally Financial — Shares of Ally Financial fell 3.8% after a downgrade by Morgan Stanley based on its expected consumer credit outlook.

GoodRx — Shares rose 13% after Citi began covering the discount drug app with a buy rating and said the selloff in GoodRx stock was overdone. The firm’s target suggests a potential upside of more than 60%.

— CNBC’s Sarah Min, Tanaya Macheel, Michelle Fox, Jesse Pound, Carmen Reinicke and Yun Li contributed reporting

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