Check out the companies making headlines after the bell:
Shares of Ulta nosedived 21% after the company lowered its guidance and missed earnings estimates. The beauty company lowered its revenue growth guidance to 9%-12%, compared to the 12.3% Refinitiv estimate. It also lowered its fiscal year earnings guidance from $12.82-$13.03 to $11.86-$12.06. Refinitiv had estimated fiscal year EPS of $12.97.
The company reported second quarter earnings per share of $2.76 on revenue of $1.67 billion. Analysts had expected earnings per share of $2.80 on revenue of $1.68 billion, according to Refinitiv consensus estimates. Mary Dillon, Chief Executive Officer, said the company updated its outlook due to “headwinds” in the U.S. cosmetic market.
Dell jumped 9% after beating second-quarter revenue estimates. The information technology company reported second quarter adjusted earnings per share of $2.15 on revenue of $23.45 billion. Analysts had expected earnings per share of $1.47 on revenue of $23.27 billion, according to Refinitiv consensus estimates. Tom Sweet, chief financial officer of Dell, cited the company’s “diverse portfolio and consistent execution”.
Shares of Marvell Technology Group fell more than 5% after reporting weak second quarter earnings and revenue guidance. The semiconductor company reported second quarter adjusted earnings per share of 16 cents on revenue of $657 million. Analysts had expected earnings per share of 15 cents on revenue of $652 million. CEO Matt Murphy said the company faces “a worsening macroeconomic environment,” in addition to issues with Huawei.
Ambarella surged more than 18% after reporting better-than-expected second quarter earnings. The semiconductor design company reported adjusted earnings per share of 21 cents on revenue of $56.4 million. Analysts had expected earnings per share of 2 cents on revenue of $52.0 million, according to Refinitiv consensus estimates. Fermi Wang, Ambarella president and CEO, said the company’s outlook was strong.
“Our confidence in our fiscal year 2020 outlook has increased, despite the geopolitical uncertainty,” he said.
