U.S. Movers: Best Buy, Dollar Tree, Kohl's, Marvell Technology, Snowflake

Scott Peters
28 May, 2026
New York City

Marvell Technology decreased 2.8% to $193.24 after the semiconductor company reported financial results for its fiscal first quarter ending on May 3.

Net revenues increased 28% to $2.4 billion from $1.9 billion, net income dropped to $34.5 million from $177.9 million, and diluted earnings per share eased to 4 cents from 20 cents a year ago. 

"We expect revenue growth to continue accelerating each quarter throughout fiscal 2027, driven by continued strength in our data center business,” said Matt Murphy, Marvell’s chairman and CEO.

The company raised its fiscal 2027 and 2028 guidance, "driven by strong demand across a broad set of Marvell solutions," including Ethernet switches and optical interconnect solutions. 

The company guided fiscal second quarter revenue of $2.7 billion and diluted net income per share of 37 cents.

Snowflake Inc. soared 37% to $240.25 after the company posted its quarterly results and inked a long-term cloud infrastructure partnership deal with Amazon's AWS unit. 

Net revenues in the fiscal first quarter, ending in April, rose 33% to $1.4 billion from $1.1 billion; net loss shrank to $295.6 million from $430.1 million; and diluted loss per share decreased to 86 cents from $1.29 a year ago.

The company estimated product revenue for the fiscal second quarter to range between $1.415 billion and $1.420 billion and for the full year to rise 31% to $5.84 billion, higher than the previous estimate of $5.66 billion. 

Kohl's Corp. soared 11% to $14.31 after the retailer posted a narrower-than-expected loss in the fiscal first quarter. 

Best Buy Company jumped 8.9% to $69.99 after the electronics retailer reported better-than-expected fiscal first quarter results. 

Comparable sales advanced 2% from a year ago, and the specialty retailer reaffirmed its annual outlook.

Dollar Tree jumped 13% to $108.18 after the deep-discount retailer reported fiscal first-quarter results ending on May 2. 

The company reiterated its current quarter and full-year sales estimates. 

Net revenues increased 7.2% to $5 billion from $4.6 billion, net income increased to $347.3 million from $343.4 million, and diluted earnings per share rose to $1.76 from $1.61 a year ago. 

The company expects net sales from continuing operations for the second quarter to range from $4.8 billion to $4.9 billion, based on comparable store net sales growth in the range of 2.5% to 3.5%. 

The company guided full-year 2026 sales to fall between $20.5 billion and $20.7 billion and adjusted diluted earnings per share between $6.70 and $7.10.