U.S. Movers: Dell, Gap, MongoDB, Nordstrom, Ulta Beauty, Zscaler

Scott Peters
31 May, 2024
New York City

Dell Technologies plunged 17% to $140.75 after the personal computer and server maker reported better-than-expected quarterly earnings. 

The stock declined after the company guided gross margin, which is likely to ease by 150 basis points in the fiscal year 2025. 

Zscaler soared 16.4% to $182.35 after the cloud security company reported better-than-expected earnings and revenue in the fiscal third quarter. 

MongoDB dropped 23.5% to $236.96 after the database platform for developers reported better-than-expected first quarter results but guided weaker-than-expected second quarter and full-year results. 

Ulta Beauty jumped 9.2% to $421.0 after the company reported strong quarterly results and issued a cautious outlook. 

Total revenue in the fiscal fourth quarter soared 71% to $321.1 million, driven by a broad rebound in cosmetics, skin care, and services across all channels. 

Diluted earnings per share jumped 53% to 26 cents. 

Gap Inc. jumped 23.5% to $27.83 after the apparel retailer swung to profit and raised its outlook. 

Revenue in the fiscal first quarter increased 3% to $3.4 billion, driven by a 5% increase in Old Navy stores. Comparable same-store sales advanced by 3%. 

Net income in the quarter swung to a profit of $152 million from a loss of $18 million, and diluted earnings per share were 41 cents from a loss of 5 cents a year ago. 

The retailer guided fiscal second quarter sales to rise in low single digits and full-year sales to rise slightly from the previous estimate of flat sales. 

Nordstrom declined 1.7% to $20.70 after the luxury department store operator reported weaker-than-expected quarterly results.

Comparable store sales for the discount store chain Rack rose 7.9%, and the company's namesake brand chain sales increased 1.8%.