Dollar General experienced a sharp decline in its stock value, nearly 30%, after announcing a reduction in sales and profit guidance for the year. CEO Todd Vasos attributed the weaker sales to financially constrained core customers. This news not only affected Dollar General but also led to a 9% drop in shares for competitor Dollar Tree.
Conversely, Affirm saw a massive 34% increase in its share price following a stronger-than-expected revenue outlook for the first quarter. The company anticipates revenue to surpass analyst expectations, where they estimate revenue between $640 million and $670 million.
Best Buy also experienced a positive shift with shares jumping 15% after raising its earnings outlook for the fiscal year. The adjusted earnings range is now between $6.10 and $6.35 per share, significantly higher than the previous estimate.
Nutanix saw a 20% surge in its stock value after reporting better-than-expected earnings and revenue for the fourth quarter. Their results exceeded analyst estimates, with an adjusted earnings per share of 27 cents on $548 million in revenue.
In contrast, Okta’s share prices plummeted around 16% due to lower-than-expected billings, which came in at $651 million compared to analyst consensus of $679 million. This led to a double downgrade of the stock to underperform by Bank of America.
Birkenstock fell 16% after reporting lower-than-expected fiscal third-quarter adjusted earnings, even though the company reaffirmed its full-year revenue growth guidance of 19%.
Pure Storage disappointed investors with a 13% drop in its shares after issuing third-quarter operating income guidance below analyst estimates. The company expects $140 million in operating income, while analysts predicted $148.1 million.
Although Nvidia beat analyst expectations for the second quarter, with adjusted earnings of 68 cents per share on $30.04 billion in revenue, their revenue forecast for the third quarter fell short of investor expectations. This resulted in a slide of more than 3% in share prices.
Veeva Systems saw a 9% increase in share prices after reporting earnings and revenue that exceeded analyst expectations for the second quarter. The company reported adjusted earnings of $1.62 per share on $676.2 million in revenue, surpassing analyst estimates.
Crowdstrike managed to pop 5% despite lowering its full-year outlook due to a global outage. The cybersecurity company posted stronger-than-expected earnings and revenue for the recent quarter, leading to a positive market response.
HP Inc. experienced a more than 4% increase in share prices after reporting better-than-expected revenue for the third quarter. Despite missing the mark on adjusted earnings, revenue surpassed analyst estimates.
Victoria’s Secret saw a slip of over 1% in its share prices despite raising its full-year outlook. The company still anticipates a 1% year-over-year decline in net sales, a slightly more positive outcome than what was previously forecasted.