Check out the companies making headlines in the midday trading: Costco – Wholesalers earned more than 3% in third quarter results, surpassing analyst estimates, but sales increased by 8% from the same period from the year. Ulta Beauty – Beauty retailer stocks surged nearly 13% to reach a 52-week high after raising annual profit forecasts and crushed expectations with quarterly results. Ulta said lower inventory losses and new launches will help drive demand in stores. Gap – Apparel retailers plummeted 20% after saying they were looking at current quarterly sales around Flat from the previous year. Meanwhile, analysts expected sales to increase by 0.2%. This cloudy outlook surpassed the gap’s first quarter revenue and revenue beat. Elastic NV – The software company has pulled back 12% on analyst estimates that missed full-year revenue forecasts. Elastic expects revenues of between $1.655 billion and $1.67 billion over the year, but the analysts voted by Factset were looking for $1.68 billion. Marvell Technology – Semiconductor companies fell 6% after Marvell’s first quarter revenues didn’t impress investors. Marvell reported that adjusted earnings per share is 62 cents, with analysts surveyed by LSEG calling for 61 cents per share. Regeneron Pharmaceuticals, Sanofi – Biopharma company stocks fell by 18% and 5.6% respectively, with inconsistent results from the late trials of respiratory drug Itepekimab, with both companies involved in the development. Pagerduty – Shares fell 11% after cloud computing company issued a weaker than expected second-quarter earnings forecast. Pagerduty expects earnings per share to be between 19 cents and 20 cents, excluding items, but the analysts voted by FactSet were looking for 23 cents. ZSCALER – Cloud security firms surged 8% after third quarter results broke analyst estimates. Zscaler reported an adjusted 84 cents per share with $678 million earnings, while analysts voted by Factset were looking for an adjusted 76 cents per share with $666.5 million earnings. Palantir Technologies – Software platform inventory has moved up more than 5% after Friday’s report from the New York Times. The Trump administration tapped Palantir to help compile data on US citizens and expanded Palantir’s already robust deal with the government. – CNBC’s Yun Li and Lisa Kailai Han contributed the report.
The biggest moves of stocks noon: cost, pltr, gap, urta
