Signage outside the Palo Alto Networks headquarters in Santa Clara, California, U.S., Thursday, May 13, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines after the bell on Thursday:
Applied Materials – Applied Materials shares fell more than 2% after the chipmaker reported quarterly results that missed analysts’ estimates. The company earned $1.85 per share on revenue of $6.25 billion. Analysts had expected earnings of $1.90 per share on revenue of $6.38 billion, according to Refinitiv. Applied Materials’ guidance for the current quarter for earnings and revenue was also lower than StreetAccount’s estimates. CEO Gary Dickerson said the company was “limited by ongoing supply chain issues”.
Palo Alto Networks — Shares of the cybersecurity company jumped 10% on 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 had expected earnings of $1.68 per share on revenue of $1.36 billion. The company also released 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 fell below analysts’ expectations. The company’s earnings per share and comparable store sales guidance for the second quarter also fell short of estimates. “After a stronger than expected start to the period, sales underperformed for the remainder of the quarter,” CEO Barbara Rentler said.
Deckers Outdoor – Shares of Deckers Outdoor rose more than 12% after the company posted earnings of $2.51 per share on revenue of $736 million. Those results beat Refinitiv’s estimate of $1.32 per share on sales of $639 million. The company’s full-year revenue forecast also beat expectations.
VF Corp – Shares of VF Corp rose more than 3% after the clothing company raised its full-year earnings outlook. The company expects earnings of between $3.30 per share and $3.40 per share for fiscal 2023. This represents an increase from earlier guidance of around $3.20 per share.