U.S. Movers: Dell, Gap, Lululemon, MongoDB, Ulta Beauty

Scott Peters
30 Aug, 2024
New York City

Lululemon gained 3.9% to $269.0, and the athleisure retailer reported mixed quarterly results. 

Revenue in the latest quarter increased to $2.37 billion, and diluted earnings per share were $3.25, beating the estimates by at least 20 cents. 

However, comparable sales increase slowed sharply to 2% from as high as 7% in the fourth quarter of 2023 and flat in the first quarter of this year. 

Ulta Beauty dropped 7.1% to $341.50, and the cosmetic retailer reported weaker-than-estimated second quarter sales. 

The cosmetic retailer lowered its full-year sales outlook, following the decline in comparable store sales. 

Dell Technologies increased 5.2% to $116.44, and the personal computer and data server company reported earnings ahead of market expectations. 

MongoDB soared 17% to $289.10, and the database developer's revenue and earnings were ahead of market expectations. 

Revenue in the fiscal second-quarter ending in July increased 13% to $478.1 million, net loss advanced to $54.5 million from $37.6 million, and diluted loss per share expanded to 74 cents from 53 cents a year earlier. 

The company guided full-year revenue to range between $1.92 billion and $1.93 billion, from the previous range between $1.88 billion and $1.90 billion. 

The company also lifted its adjusted earnings per share outlook to between $2.33 and $2.47 from the previous estimate between $2.15 and $2.30. 

Gap Inc. declined 1.5% to $22.57 after the specialty apparel retailer reported revenue and earnings that surpassed market expectations. 

Revenue in the quarter that ended on August 3 rose 5% to $3.72 billion from $3.55 billion, net income advanced to $206 million from $117 million, and diluted earnings per share rose to 54 cents from 32 cents a year ago.