Market Updates
U.S. Movers: Chewy, Dollar Tree, Foot Locker, Marvell Technology, Okta, Salesforce
Scott Peters
04 Dec, 2024
New York City
Salesforce jumped 12% to $371.20 after the customer relations software developer reported better-than-expected quarterly results.
The company reported higher-than-expected revenue in the third quarter of $9.44 billion and adjusted earnings per share of $2.41.
Marvell Technology jumped 13% to $108.30 after the advanced chipmaker reported higher-than-expected third quarter earnings.
Stock soared after the company estimated fourth quarter revenue of $1.8 billion.
Okta Inc. jumped 13% to $92.35, and the identity and access management company said revenue in the third quarter increased 14% from a year ago to $569 million.
The company also guided revenue in the fourth quarter to range between $667 million and $669 million.
Chewy Inc. decreased 1.9% to $32.99, and the online pet food store reported mixed quarterly results.
Revenue in the third quarter increased to $2.88 billion, and diluted earnings per share were 20 cents per share.
However, the company's estimate of revenue in the fourth quarter and full year was ahead of market expectations.
Foot Locker dropped 19% to $19.71 after the athletic footwear retailer reported third quarter revenue of $1.96 billion and diluted earnings per share of 33 cents.
Dollar Tree jumped 3.6% to $75.09 after the deep discount retailer reported better-than-expected revenue and earnings in the third quarter.
Revenue increased to $7.56 billion, and diluted earnings per share advanced to $1.12.
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Earnings
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