Ross Stores (NASDAQ:ROST) Inc shares gained more than 5% in extended trading Thursday after the retailer beat earnings expectations and raised its guidance.
The company reported earnings of $1.32 per share, compared to $1.11 a year earlier and expectations of $1.16. Revenue came in at $4.9 billion, up from $4.6 billion and compared to projections of $4.75 billion.
Farfetch Limited (NYSE:FTCH) stock swooned nearly 35% after the luxury fashion company reported underwhelming second-quarter revenue, even as its loss was narrower than expected.
The company posted revenue of $579.34 million, up 1.2% year over year but well behind Street expectations of $649.17 million. Its loss came in at $0.21 per share, unchanged from the year-ago quarter but decidedly narrower than expectations of a $0.42 per share loss.
Applied Materials, Inc. (NASDAQ:AMAT) shares rose nearly 2% after the company's third-quarter 2023 revenue slipped 1% to $6.43 billion but surpassed the analyst consensus forecast of $6.15 billion.
The semiconductor materials provider also posted earnings per share (EPS) for the period of $1.90, $0.16 better than expectations.
Palo Alto Networks Inc (NYSE:PANW) stock fell nearly 3% after the company perplexed analysts and shareholders when it announced plans to report earnings after the bell on Friday, a highly untraditional move.
Wedbush analysts aren’t sure what to make of the cybersecurity company's decision.
“We have seen many strange things in our 23 years covering the tech sector on the Street and thought we have seen it all until Palo Alto decided to host a ‘head scratching’ after the close conference call this Friday to discuss its earnings and medium term guidance,” Wedbush analysts wrote.
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