30 May Stocks making the biggest moves midday: COST, PLTR, GAP, ULTA
Check out the companies making headlines in midday trading: Costco — The wholesaler gained more than 3% on fiscal third-quarter results that surpassed analysts’ estimates, while sales jumped 8% from the same period a year ago. Ulta Beauty — Shares of the beauty retailer skyrocketed nearly 13% to hit a 52-week high after the company raised its annual profit forecast and crushed expectations with its quarterly results. Ulta said lower inventory losses and new launches helped drive demand at its stores. Gap — The apparel retailer plunged 20% after saying it sees current-quarter sales around flat from the year-earlier period. On the other hand, analysts had expected sales to grow 0.2%. This cloudy outlook outweighed Gap’s first-quarter earnings and revenue beat. Elastic NV — The software company pulled back 12% after its full-year revenue forecast missed analysts’ estimates. Elastic expects revenue for the full year between $1.655 billion and $1.67 billion, while analysts polled by FactSet were looking for $1.68 billion. Marvell Technology — The semiconductor company declined 6% after Marvell’s first-quarter earnings failed to impress investors. Marvell reported adjusted earnings per share of 62 cents, while analysts surveyed by LSEG called for 61 cents per share. Regeneron Pharmaceuticals , Sanofi — Shares of the biopharma companies dropped 18% and 5.6%, respectively, on inconsistent results from late-stage trials for respiratory drug itepekimab, which both firms are involved in developing. PagerDuty — Shares dipped 11% after the cloud computing firm issued a weaker-than-expected second-quarter profit forecast. PagerDuty expects earnings per share between 19 cents and 20 cents, excluding items, while analysts polled by FactSet were looking for 23 cents. Zscaler — The cloud security firm surged 8% after third-quarter results beat analysts’ estimates. Zscaler reported an adjusted 84 cents per share on revenue of $678 million, while analysts polled by FactSet were looking for an adjusted 76 cents per share on revenue of $666.5 million. Palantir Technologies — The software platform stock advanced more than 5% after a Friday report from The New York Times said the Trump administration tapped Palantir to aid in compiling data on U.S. citizens, expanding Palantir’s already robust dealings with the government. — CNBC’s Yun Li and Lisa Kailai Han contributed reporting.