Dell Technologies reported a substantial increase in its stock price, rising 30% after it raised its full-year earnings guidance to $17.90 per share and projected revenue between $165 billion and $169 billion, surpassing analyst expectations of $13.09 per share and $142.5 billion in revenue.
In contrast, American Eagle Outfitters saw its shares drop approximately 11% as comparable sales at its American Eagle brand fell 2%, missing the anticipated 3.1% growth. The company also provided disappointing second-quarter guidance for operating income, estimating $45 million to $50 million, below the FactSet consensus of $65.3 million.
Similarly, Gap's shares tumbled 13% after it cut its sales outlook for the year, now expecting growth of only 1% to 2%, down from a previous estimate of 2% to 3%. Although Gap's first-quarter revenue of $3.50 billion fell short of the $3.52 billion expected, its adjusted earnings of 38 cents per share did exceed the anticipated 37 cents.
Other companies like Okta and NetApp saw positive movements, with Okta's shares rising 12% after it provided revenue guidance that exceeded expectations, while NetApp also reported better-than-expected guidance and earnings. Conversely, Elastic's shares fell 9% due to a disappointing earnings forecast, and SentinelOne plunged 17% after guiding for lower-than-expected revenue.
Overall, the mixed results reflect varying investor confidence across sectors, particularly in technology and retail