Let’s take a look at the latest movers in the after-hours trading scene.
Starting with Salesforce, the software giant saw its shares climb by 6% following a strong revenue performance in the third quarter. They brought in $9.44 billion, surpassing analyst expectations of $9.35 billion as reported by LSEG. However, their adjusted earnings of $2.41 per share fell just short of the projected $2.44 per share.
Marvell Technology, known for its integrated circuits, experienced a significant 10% jump. This came on the back of optimistic guidance for the upcoming quarter, with anticipated revenue of $1.80 billion, well above the $1.65 billion forecast by Wall Street analysts. Additionally, their third-quarter earnings and revenue exceeded initial projections.
Okta’s stock enjoyed a 16% boost, driven by upbeat future outlook. The company expects fourth-quarter revenue between $667 million and $669 million, ahead of the $651 million predicted by analysts surveyed by LSEG. Okta’s performance in the third quarter also surpassed market expectations.
Next up is Pure Storage, which experienced a remarkable surge of over 26%. This data storage company reported third-quarter results that surpassed forecasts, with adjusted earnings of 50 cents per share on $831 million in revenue. Analysts had anticipated 42 cents per share earnings and $815 million in revenue.
On the downside, Box saw a 2.6% decline after projecting somewhat lackluster guidance for the fourth quarter. They estimate adjusted earnings of 41 cents per share on $279 million in revenue, aligning with analyst predictions as per LSEG.
Finally, Campbell’s shares dropped by more than 3%. The canned soup maker announced the retirement of CEO Mark Clouse, who is set to join the NFL’s Washington Commanders as president. They reported fiscal first-quarter revenue of $2.77 billion, missing analysts’ expectations of $2.80 billion. However, their adjusted earnings of 89 cents per share topped the consensus estimate of 87 cents.
