MondayFounder

Gap, the renowned retailer, experienced a remarkable surge of 15% in its shares during the postmarket session. This exhilarating boost came in the wake of the company’s latest earnings report, which showcased a significant improvement in margins. Although Gap’s revenue slightly missed expectations, resting at $3.28 billion, industry analysts surveyed by Refinitiv had anticipated a slightly higher figure of $3.29 billion.

On the other hand, Costco faced a slight setback as its shares slipped by 0.2%. The reason behind this minor decline was the retailer’s revenue miss for the fiscal third quarter. While analysts had forecasted $54.57 billion in revenue, Refinitiv reported that Costco fell slightly short, recording $53.65 billion. However, there was a silver lining, as Costco managed to surpass analysts’ predictions for adjusted earnings per share. Reporting $3.43 in earnings per share, the company exceeded the expected $3.29.

Ulta Beauty witnessed an 8% drop in its shares during extended trading. This decline occurred after the cosmetics retailer reaffirmed its guidance for earnings and comparable sales for the entire year. Ulta did slightly raise its revenue outlook for the year, but it wasn’t enough to appease investors. The company’s earnings report showcased earnings of $6.88 per share on $2.63 billion in revenue. While analysts had called for earnings of $6.87 per share and revenue of $2.62 billion, as reported by Refinitiv, Ulta fell short of meeting their expectations.

However, Workday, a prominent cloud stock, experienced a significant after-hours boost of 7%. This surge followed a robust earnings report and an exciting announcement of a new chief financial officer. Workday’s adjusted earnings per share stood at an impressive $1.31, surpassing analysts’ estimate of $1.12, according to Refinitiv. Moreover, the company narrowly exceeded revenue expectations, reporting $1.68 billion compared to the predicted $1.67 billion. As an added surprise, Workday disclosed that Zane Rowe, formerly the chief financial officer of VMware, would assume the role of finance chief starting next month.

In the world of semiconductors, Marvell Technology stole the spotlight with a remarkable 14% surge in post-market trading. The semiconductor producer exceeded analysts’ expectations for the first quarter, reporting 31 cents in adjusted earnings per share on $1.32 billion in revenue. Refinitiv’s polled analysts had estimated 29 cents per share and $1.3 billion in revenue. Furthermore, Marvell Technology expressed optimism regarding its revenue growth, indicating that it should accelerate during the second half of the fiscal year.

Unfortunately, luxury retailer RH experienced a 3% decline in after-hours trading. Despite an outstanding performance in the first quarter, with earnings surpassing expectations, weak guidance for the current quarter overshadowed this achievement. RH projected revenue between $765 million and $775 million, which fell short of the Street’s estimate of $784 million, as reported by Refinitiv. Nevertheless, the company managed to exceed revenue expectations in the first quarter, posting $739 million compared to the analysts’ forecast of $727 million.

As we conclude, it is worth acknowledging the invaluable contribution of CNBC’s Darla Mercado in reporting these developments. Their insights and analysis have greatly enhanced our understanding of the financial landscape.