Gap Inc (NYSE:GPS) shares took off nearly 15% after Thursday’s closing bell after the clothing retailer reported sales and profits above estimates for the third quarter.
The company - whose portfolio of brands includes Gap, Old Navy, Banana Republic and Athleta - reported revenue of $3.77 billion for the three months ended October 28, 2023.
Applied Materials, Inc. (NASDAQ:AMAT) shares fell as much as 7% even as the semiconductor maker’s fourth-quarter 2023 financial results exceeded Wall Street expectations and the company issued an upbeat forecast.
Applied Material saw its 4Q adjusted earnings per share (EPS) increase 4% year over year to $2.12, topping the $1.99 analyst consensus forecast.
The company also generated revenue for the period of $6.72 billion, which was flat year over year but better than the $6.52 billion consensus estimate.
Ross Stores Inc (NASDAQ:ROST) stock rose more than 5% after the company topped third-quarter expectations and boosted its guidance.
The discount retailer posted earnings of $1.33 per share on revenue of $4.92 billion, compared to expectations of $1.22 per share on revenue of $4.85 billion.
Looking ahead, Ross guided for full-year earnings between $5.30 and $5.36 per share, up from its previous guidance of $5.15 to $5.26 per share.
Meanwhile, SpaceX has pushed back the launch date for its Starship rocket’s second flight to Saturday from Friday, CEO Elon Musk said.
A piece of hardware related to flight control needs replacing, Musk said in a post on X.