U.S. Movers: GitLab, Macy's, Palo Alto Network, Victoria's Secret, Ulta Beauty

Scott Peters
03 Jun, 2026
New York City

Palo Alto Networks decreased 3.4% to $287.0, and the cybersecurity company posted strong financial results in the fiscal third quarter. 

Revenue increased 31% to $3.0 billion from $2.3 billion, net income swung to a loss of $177 million from $262 million, and diluted earnings per share were a loss of 22 cents compared to 37 cents a year ago. 

The company revised higher its revenue guidance for the current quarter and for the fiscal year. 

The company lifted its fiscal second quarter revenue range to between $3.345 billion and $3.355 billion, representing an increase of 32% from a year ago, and diluted earnings per share to fall between 96 cents and 98 cents. 

For the fiscal year 2026, the company estimated revenue to range between $11.415 billion and $11.425 billion, representing an increase of 24% from a year ago, and adjusted diluted earnings per share to range between $3.77 and $3.79.

GitLab dropped 3% to $30.87 after the company announced its plan to reduce its full-time workforce by 14%, or about 36 staff, and exit 22 countries.

The company estimated a pre-tax charge between $30 million and $35 million for its restructuring plan. 

Total revenue in the fiscal first quarter ending in April rose 23% to $264.2 million from $214.5 million, net loss attributable to shareholders shrank to $5 million from $35.9 million, and diluted loss per share decreased to 3 cents from 22 cents a year ago. 

The company guided fiscal second quarter revenue to range between $272 million and $274 million, and fiscal 2027 revenue to range between $1.112 million and $118 million. 

The software platform developer estimated adjusted earnings per share in the fiscal second quarter to range between 17 and 18 cents and fiscal 2027 to range between 79 cents and 82 cents.

Ulta Beauty increased 1% to $500.26 after the company posted its quarterly results and revised higher its full-year earnings estimate. 

Revenue in the fiscal first quarter ending on May 2 increased 11.1% to $3.2 billion from $2.9 billion, net income soared 11.4% to $340.5 million from $305.1 million, and diluted earnings per share advanced 15% to $7.74 from $6.70 a year ago. 

Net sales increased in the quarter, primarily due to increased comparable sales, the acquisition of Space NK, and sales from new stores. 

Comparable sales rose 5.3%, driven by a 3.7% increase in average ticket and a 1.6% increase in transactions. 

The company reiterated its fiscal year net sales to increase between 6% and 7%, comparable store sales to rise between 2.5% and 3.5%, and capital expenditures between $400 million and $450 million. 

The cosmetic retailer lifted its annual diluted earnings per share range to between $28.36 and $28.80 from the previous range between $28.05 and $28.55.

Victoria's Secret soared 47% to $80.06 after posting strong quarterly results and lifting its annual sales outlook. 

Revenue in the fiscal first quarter ending on May 2 rose 15% to $1.6 billion from $1.4 billion, net income attributable to shareholders swung to $47.7 million from a loss of $1.7 million, and diluted earnings per share increased to a profit of 56 cents from a loss of 2 cents a year ago.

The company raised its net sales forecast for the fiscal second quarter to between $1.59 billion and $1.62 billion, compared to $1.46 billion in the quarter a year ago.

The specialty retailer of intimate apparel raised its fiscal full-year 2026 revenue estimate to between $7.03 billion and $7.13 billion, an increase compared to the previous estimated range between $6.85 billion and $6.95 billion and compared to $6.56 billion in fiscal 2025.