Stocks making the biggest moves after the bell: Palo Alto Networks, Ross Stores, Deckers & more

Stock Market

In this article

Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines after the bell Thursday:

Applied Materials — Applied Materials shares fell more than 2% after the chipmaker posted quarterly results that missed analyst estimates. The company earned $1.85 per share on revenue of $6.25 billion. Analysts expected a profit of $1.90 per share on revenue of $6.38 billion, according to Refinitiv. Applied Materials’ current-quarter guidance for earnings and revenue was also below StreetAccount estimates. CEO Gary Dickerson said the company is “constrained by on-going supply chain issues.”

Palo Alto Networks — Shares of the cybersecurity company jumped 10% on the back of better-than-expected quarterly results. Palo Alto Networks reported earnings per share of $1.79 on revenue of $1.39 billion. Analysts polled by Refinitiv expected a profit of $1.68 per share on revenue of $1.36 billion. The company also issued stronger-than-expected earnings and revenue guidance for the fiscal fourth quarter.

Ross Stores — Ross Stores fell more than 18% after the retailer posted first-quarter revenue that was below analyst expectations. The company’s earnings per share and same-store sales guidance for the second quarter also came in below estimates. “Following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter,” CEO Barbara Rentler said.

Deckers Outdoor — Shares of Deckers Outdoor rallied more than 12% after the company posted a profit of $2.51 per share on revenue of $736 million. Those results topped Refinitiv estimates of $1.32 per share on sales of $639 million. The company’s full-year revenue guidance was also above expectations.

VF Corp — VF Corp shares rose more than 3% after the clothing company hiked its full-year earnings outlook. The company expects a profit ranging between $3.30 per share and $3.40 per share for fiscal 2023. That’s up from prior guidance of roughly $3.20 per share.

Articles You May Like

Sam Bankman-Fried provides bailouts, ‘Bitcoin dead’ searches soar, and debate over hidden themes behind BAYC continues: Hodlers Digest, June 19–25
SPACs wipe out half of their value as investors lose appetite for risky growth stocks
Homebuilder sentiment drops to lowest level in two years as housing demand slows
US Supreme Court overturns Roe vs Wade in major blow to abortion rights
UK to suffer high inflation longer than other nations, warns Bailey