U.S. Movers: Broadcom, Costco Wholesale, Gap, Marvell Technology

Scott Peters
06 Mar, 2026
New York City

Broadcom advanced 7.4% to $341.05 after the advanced chip designer posted strong results for the fiscal first quarter ending on February 2, 2025. 

Revenue jumped 29% to $19.3 billion from $14.9 billion, net income advanced 34% to $7.3 billion from $5.5 billion, and diluted earnings per share rose to $1.50 from $1.14 a year ago. 

The company held its quarterly cash dividend at 65 cents, payable on March 31 to shareholders on record on March 23. 

Broadcom estimated fiscal second quarter revenue to rise by 47% to $22 billion and announced a new stock repurchase program worth $10 billion. 

Costco Wholesale Corp. rose 0.2% to $980.29 after the membership warehouse club reported fiscal second-quarter results. 

Revenue increased 9.1% to $69.6 billion from $63.7 billion, net income advanced to $2.0 billion from $1.8 billion, and diluted earnings per share rose to $4.58 from $4.02 a year ago. 

Comparable U.S. same-store sales increase slowed to 5.9% from 6.4%, but the companywide growth accelerated to 7.4% from 6.7% a year ago, respectively. 

For the four-week reporting month of February, which ended March 1, net sales rose 9.5% to $21.7 billion from $19.81 billion, and same-store sales growth in the period slowed to 5.2% from 6.0% a year ago, respectively.

Marvell Technology soared 14.7% to $86.78 after the advanced semiconductor products maker reported strong fiscal fourth-quarter results. 

Revenue increased 22% to $2.2 billion from $1.8 billion, net income nearly soared to $396.1 million from $200.2 million, and diluted earnings per share rose to 46 cents from 23 cents a year ago. 

The company guided first-quarter fiscal revenue of $2.4 billion and diluted earnings per share of 31 cents. 

Gap Inc. dropped 6.3% to $25.49 after the apparel retailer reported slightly lower than estimated net income in the fiscal fourth quarter. 

Revenue increased 2% to $4.2 billion from $4.1 billion, net income decreased to $171 million from $206 million, and diluted earnings per share fell to 45 cents from 54 cents a year ago. 

Overall comparable sales rose 3%, driven by flat store sales and an online sales increase of 5% from a year ago. Online sales accounted for 42% of total sales. 

In the quarter, comparable stores increased 7% for Gap, 3% for Old Navy, and 4% for Banana Republic but declined 10% for Athleta from a year ago, respectively.