After-Hours Stock Movements

Several companies made headlines after the market closed. Salesforce saw a slight dip in its shares as it projected a revenue range of $11.27 billion to $11.35 billion for the upcoming quarter, just below analysts’ expectations of $11.36 billion. On a positive note, Salesforce did increase its full-year profit forecast and reported higher profits and sales for the first quarter.

Nutanix, a cloud computing firm, enjoyed a 3% rise in its stock. The company shared that it had higher adjusted earnings and revenue for its fiscal third quarter, with a non-GAAP operating margin of 22.3%, exceeding analyst forecasts of 16.9%.

Agilent Technologies experienced a significant surge, with shares jumping 11% after the healthcare equipment provider raised its adjusted earnings outlook for the year to $6.10 per share from an earlier estimate of $6.00. This also surpassed previous estimates of $5.90 to $6.04 per share, alongside second-quarter growth in both sales and profits.

Marvell Technology, a semiconductor company, saw a decline of over 1%. Despite an optimistic outlook for the quarter—expecting adjusted earnings of 93 cents per share on revenue of $2.7 billion—this was still better than analysts’ expectations of 90 cents per share and $2.6 billion, according to LSEG. Their first-quarter results also surpassed expectations, but the stock didn’t reflect that positivity.

Everpure’s stock dipped more than 6% after the company, formerly known as Pure Storage, met expectations for its first-quarter non-GAAP gross margins. Yet, it did report increased earnings and revenue for that quarter, providing operating profit guidance that surpassed expectations as well.

On the flip side, Snowflake’s stock soared by 33% in after-hours trading. The cloud data platform provider plans to invest $6 billion in Amazon Web Services over five years. Additionally, Snowflake announced better-than-anticipated first-quarter results, with adjusted earnings of 39 cents per share and revenue of $1.39 billion, higher than the analysts’ forecast of 32 cents per share and $1.32 billion in revenue.

Synopsys, a silicon chip designer, fell by 1%. The company shared news of an agreement with activist firm Elliott Investment Management to appoint Jesse Cohn to its board, effective June 1. At the same time, Synopsys reported second-quarter results that exceeded Wall Street’s expectations, with adjusted earnings of $3.35 per share and revenue of $2.28 billion.

Braze saw a 12% drop in its shares after reporting first-quarter adjusted earnings of 10 cents per share, which matched expectations. However, its gross margin of 67.4% fell short of the consensus estimate of 68.8%. The company also provided full-year non-GAAP operating income guidance that was slightly lower than analysts had anticipated.

Lastly, American Superconductor’s stock plummeted by 10% after announcing adjusted earnings of over 17 cents per share with revenues exceeding $85 million for the current quarter. This was below the expected earnings of 22 cents per share and revenue of $87.1 million, according to FactSet.

Conversely, NCino saw an 11% increase in shares after the financial software provider raised its full-year revenue outlook to between $642 million and $646 million, a slight improvement from earlier projections of $639 million.