After the market closed, a few companies became the center of attention with their noteworthy developments. Adobe, for instance, saw its stock dip by about 3%. Investors seemed underwhelmed by Adobe’s forecast for the second fiscal quarter. The company’s projected revenue stands between $4.27 billion and $4.30 billion, which didn’t quite match the StreetAccount consensus target of $4.29 billion. Moreover, Adobe’s adjusted earnings are predicted to fall between $4.95 and $5 a share, slightly below the $5 per share that analysts were hoping for.
In the retail sector, American Eagle Outfitters caught some attention as well. Its shares dropped approximately 5% after the company offered a rather bleak outlook. For the upcoming quarter, American Eagle anticipates a mid-single-digit decline in sales. This stands in stark contrast to the 1.3% revenue growth expected by analysts surveyed by LSEG. Despite this, the company managed to surpass expectations on the bottom line, and same-store sales figures also came in stronger than forecasted.
Turning to the cybersecurity landscape, SentinelOne experienced a significant slump, with its shares tumbling around 15%. The company revealed a first-quarter revenue outlook that left investors disappointed. While SentinelOne predicts revenue to be around $228 million, analysts had been expecting a figure closer to $235 million according to data from LSEG. On a brighter note, the company did surpass expectations for both earnings and revenue in the fourth quarter.
Meanwhile, Intel sparked some excitement in the market, with shares jumping by 11%. The boost followed the announcement of Lip-Bu Tan as the new CEO, succeeding interim co-CEOs David Zinsner and MJ Holthaus who stepped in last December after the departure of former CEO Patrick Gelsinger.
Lastly, UiPath, a player in the automation and AI software arena, saw a noticeable decline of roughly 15% in its stock value. The drop came after UiPath’s revenue forecast for the first quarter fell short of what analysts anticipated. While the company aimed for revenues between $330 million and $335 million, the consensus from LSEG was a much higher $368 million. Unfortunately, the company’s fourth-quarter revenue also failed to meet expectations, further contributing to the negative sentiment.
