Gap's shares rose approximately 7% following the announcement that Michael Francis will become the new CEO of Old Navy on November 2, succeeding Haio Barbeito. The company also reported adjusted earnings of 52 cents per share for the second quarter, exceeding the LSEG consensus estimate of 48 cents.
Marvell Technology's stock dipped slightly despite reporting second-quarter earnings of 94 cents per share and revenue of $2.74 billion, both surpassing analyst expectations. Workday's shares increased by 2% after it reported earnings that exceeded estimates for the second quarter.
Conversely, Rubrik's stock fell 10% despite beating expectations with earnings of 20 cents per share and revenue of $427 million, as the company raised its guidance. Autodesk's shares declined 6% after it provided disappointing earnings projections for the third quarter and full year, with adjusted earnings guidance falling short of analyst expectations.
Elastic N.V. saw a 15% surge in its stock after it issued full-year guidance that exceeded analyst forecasts, projecting adjusted earnings between $3.29 and $3.37 per share. Lastly, SentinelOne's stock dropped nearly 7% after it provided a weak outlook for future earnings, overshadowing its stronger-than-expected second-quarter results