A shopper loads a car with bottled water at Costco Wholesalers on March 15, 2020 in Chingford, Britain.
John Sibley | reuters
Check out the companies making headlines in afternoon trading.
sales force Shares of the cloud-based software company plunged over 9% after the firm Announces the sudden departure of co-CEO Brett Taylor, The Dow component 30-stock average dragged down during Thursday’s selloff. However, Salesforce reported earnings and revenue that beat analyst expectations for its most recent quarter.
costco — Shares of retailer Costco declined nearly 6% after the company reported lower-than-expected sales figures for November, which could indicate a weaker consumer appetite for the holiday shopping season. The company announced that sales in November rose 5.7% to $19.17 billion, which is less than the growth seen in October and September.
snowflake Snowflake shares rose more than 4% Analysts at Morgan Stanley and Moffett Nathanson reiterate their bullish stance On the long term prospects of the stock. The cloud data platform provider reported earnings that beat expectations but provided light revenue guidanceThat sent the stock lower after hours on Wednesday.
Okta — The identity management software provider’s stock soared more than 23% after the company shared a better-than-expected outlook and topped Wall Street’s estimates for the most recent period. Analysts had forecast a loss of 24 cents for the quarter.
five down — Shares of the discount retailer soared more than 13% after Five Below beat estimates on the top and bottom line for the latest quarter. The company reported 29 cents of earnings per share on revenue of $645 million. Analysts polled by Refinitiv were expecting 14 cents of earnings per share and $613 million in revenue. Fourth quarter guidance also beat expectations. CEO Joel Anderson said in a statement that ticket and transaction metrics improved during the third quarter.
victoria’s secret — Shares fell 4% after Victoria’s Secret has reported mixed results for its most recent quarter, The lingerie company reported earnings of 29 cents per share on revenue of $1.32 billion. Analysts polled by Refinitiv were expecting earnings of 23 cents per share on revenue of $1.33 billion. Following the results, JP Morgan downgraded the stock from overweight to neutral, citing troubles in the company’s core business.
PVH — Shares rose 10% after PVH beat Wall Street’s expectations and posted strong quarterly guidance, saying it expects full-year revenue to end within the high end of its expected range .
Splunk — Splunk’s stock soared 13% on solid quarterly results and an upbeat full-year outlook. The company also noted benefits from cost reductions.
designer brands — Shares of the footwear retailer plunged 22% after the company reported quarterly earnings and revenue that missed Wall Street’s estimates. It also cut its profit outlook citing volatile economic environment.
dollar general — The discount retailer saw its shares fall more than 8% after it posted earnings for the latest quarter that fell 21 cents a share short of analyst expectations and slashed its annual forecast due to higher costs .
Aclaris Therapeutics – Shares jumped 3.5% Goldman Sachs initiates coverage on Aclaris Therapeutics with buy rating, The biopharma stock could jump more than 60% on a potential new treatment for immuno-inflammatory diseases, the firm said.
Nutanix — Nutanix shares rose 5.8% bloomberg report He hewlett packard enterprise It recently held potential acquisition talks with the cloud computing company, citing sources familiar with the situation.
lands End — Shares plunged 30% after the apparel retailer reported an unexpected loss in the most recent quarter and revenue fell short of analysts’ expectations.
associate financial – Ally Financial’s stock slipped 3.8% Downgraded to Underweight by Morgan StanleyCiting a cautious consumer credit outlook.
goodrx – The stock jumped 13% after Citi initiated coverage with a buy rating on Discount Drugs App and said The sell-off in GoodRx shares is high, The firm’s target suggests potential upside of more than 60%.
— CNBC’s Sarah Min, Tanya Machel, Michelle Fox, Jesse Pound, Carmen Reinicke and Yun Lee contributed reporting