Top trending tickers in after-hours trading:
Applied materials (AMAT): The semiconductor device maker issued bullish guidance despite challenges in its supply chain, leading its stocks higher after hours. AMAT forecast fourth-quarter revenue of $6.65 billion, ahead of Street’s estimates. Publishing the results, CEO and President Gary Dickerson noted, “We are confident in our ability to withstand macroeconomic headwinds and remain very positive about the long-term strength of the semiconductor market and our outsized growth opportunities.” Dickerson also emphasized that “continuing supply chain challenges limited our ability to meet demand” during the quarter and that “the company’s top priority remains to increase shipments to our customers”.
Bed Bath & Further (BBBY): GameStop (GME) chairman Ryan Cohen has completed the planned sale of his entire stake in the company, according to a filing with the SEC. Cohen’s RC Ventures held an 11.8%, or 9.4 million shares and options, position in the struggling retailer. After the news, shares fell more than 30% in after-hours trading. As of Thursday’s close, shares of Bed Bath & Beyond are up more than 200% in August.
Ross stores (ROSS): Ross Stores lowered its full-year outlook and posted a larger-than-expected decline in comp sales for the second quarter. Revenue was $4.6 billion for the quarter, down from $4.8 billion a year ago as inflationary pressures and increased promotional activity weighed on results. Ross Stores CEO Barbara Rentler commented: “We are facing a very difficult and uncertain macroeconomic environment that we expect will continue to put pressure on our customers’ discretionary spending.
bill.com holdings(ACCOUNT): Shares were up 19% after hours, driven by solid fourth quarter earnings and robust guidance. Revenue for the most recent quarter was $200.2 million, up 156% from a year ago. Subscription costs increased by 77% year-over-year, while transaction costs increased by 201%. The total 2023 revenue forecast of $955.5 million to $973.5 million exceeded Street’s estimate of $892.6 million.
weber (WEBR): Shares fell in after-hours trading after posting the largest one-day gain in trading on Thursday. Weber is a trending ticker on Yahoo Finance and one of the most quoted stocks on WallStreetBets in the past 24 hours.
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