Marvel Tech, Space, RH and more

Matt Murphy, President and CEO of Marvell Technologies

Adam Jeffery | CNBC

Check out the companies making headlines ahead of time:

Marvell Technology – Marvell Technology jumped 17% in premarket trading after reporting an up-and-down beat in its first quarter. According to Refinitiv, Marvel posted adjusted earnings of 31 cents per share, topping estimates of 29 cents. It had revenue of $1.32 billion, while analysts polled by Refinitiv were expecting $1.3 billion. Revenue growth is expected to accelerate in the second half of the financial year.

GAP – Shares of the apparel retailer rose more than 11% despite the company posting net losses and sales declines in its latest quarter on Thursday, as investors cheered Gap’s big improvement in its margins thanks to lower advertising and lower airline freight costs.

Workday – Workday rose 9% after topping first-quarter expectations on top and bottom lines. The financial management software company named a new chief financial officer, Jane Rowe, and raised the low end of its full-year subscription revenue guidance.

Autodesk – Autodesk rose 1% in premarket trading. The software company reported first-quarter results in line with analysts’ expectations. It provided weaker-than-expected second-quarter guidance, while its full-year outlook was roughly in line.

Deckers Outdoor — Deckers Outdoor fell 2% in premarket trading. The lifestyle footwear company posted fourth-quarter results that beat analysts’ expectations, according to Refinitiv. However, it provided full-year revenue and earnings guidance that fell short of expectations.

RH – Despite RH beating estimates for its fiscal first quarter in a report Thursday evening, shares of the retailer fell more than 3% in premarket trading. The company reported adjusted earnings of $2.21 per share on revenue of $739 million. Analysts polled by Refinitiv had expected earnings of $2.09 per share on revenue of $727 million. However, RH’s second-quarter revenue guidance fell short of expectations, and the company warned of increased markdowns.

See also  Woman mauled to death by bear near Yellowstone, authorities say

Ulta Beauty — Ulta Beauty fell 9% in premarket trading in the first quarter, even after the beauty retailer posted strong revenue and earnings. It raised full-year revenue guidance slightly, and reaffirmed earnings per share guidance. However, comparable sales grew slightly less than expected.

— CNBC’s Tanaya Machill and Jesse Pound contributed reporting

Leave a Reply

Your email address will not be published. Required fields are marked *