Top trending tickers in after-hours trading:
Applied materials (AMAT): The semiconductor equipment maker gave an upbeat forecast despite supply chain challenges, sending shares higher after the close. AMAT forecast fourth-quarter revenue of $6.65 billion, ahead of Street’s estimates. In the earnings release, CEO and President Gary Dickerson noted, “We are confident in our ability to navigate macroeconomic headwinds and remain very optimistic about the long-term strength of the semiconductor market and our outsized growth opportunity.” Dickerson also emphasized that “continued Supply chain challenges limited our ability to meet demand during the quarter” and that the company’s “top priority remains increasing shipments to our customers.”
bed bath beyond (BBBY): GameStop (GME) Chairman Ryan Cohen has completed the proposed sale of his entire stake in the company, a filing with the SEC has revealed. Cohen’s RC Ventures held an 11.8% position, or 9.4 million shares and options, in the struggling retailer. Shares fell more than 30% in after-hours trading following the news. As of Thursday’s close, shares of Bed Bath & Beyond are up more than 200% in August.
Ross stores (HORSE): Ross Stores lowered its full-year guidance and reported a stronger-than-expected decline in comparable sales for the second quarter. Revenue for the quarter totaled $4.6 billion, down from $4.8 billion a year earlier, as inflationary pressures and increased advertising activity weighed on results. Barbara Rentler, CEO of Ross Stores, commented: “We are facing a very challenging and uncertain macroeconomic environment which we expect will continue to weigh on our customers’ discretionary spending.
Bill.com Holdings (BILL): Shares are up 19% after the close, driven by solid fourth-quarter sales and robust guidance. Revenue for the most recent quarter was $200.2 million, up 156% year over year. Subscription fees were up 77% year over year, while transaction fees were up 201%. Total 2023 revenue guidance of $955.5 million to $973.5 million beat Street’s estimate of $892.6 million.
The story goes on
weaver (WEBR): Shares fell in after-hours trading after posting their biggest one-day gain on record in Thursday’s trading. Weber is a top trending ticker on Yahoo Finance and one of the most mentioned stocks on WallStreetBets over the last 24 hours.
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