Midday movers: Dell, MongoDB fall; Gap, Zscaler rise

05/31/2024

2 minutes read

2024.05.31 11:42

(Updated – May 31, 2024 11:39 AM EDT)

Investing.com — U.S. stock futures declined Friday despite in-line inflation data for April, as disappointing earnings from major tech companies weighed on sentiment.

Here are some of the biggest U.S. stock movers today:

Dell Technologies (NYSE:) stock slumped 21% after the technology group unveiled a lower-than-anticipated current-quarter earnings outlook and indicated that higher spending on building out servers to meet artificial intelligence workloads would weigh on full-year margins.
Gap (GPS) stock jumped 25% after the apparel retailer raised its full-year sales forecast in fresh signs that its turnaround strategy is starting to work.
Nordstrom (NYSE:) stock rose 4% after the department store chain reported a wider-than-expected first-quarter loss, although revenue topped estimates.
Zscaler (NASDAQ:) stock rose 6% after the cloud security firm reported strong quarterly earnings and also hiked its guidance.
MongoDB (NASDAQ:) (MDB) stock fell 25% after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year.
Trump Media & Technology Group (DJT) stock fell 5% after the media and technology company, whose majority owner is Donald Trump, after a New York jury found the former U.S. President guilty in the high-profile hush money trial.
Marvell (NASDAQ:) stock fell 12% after the chipmaker missed expectations for first-quarter revenue, hurt by weak client spending in its wireless carrier and enterprise markets.
Costco Wholesale (NASDAQ:) stock fell 2% after the warehouse retailer decided against raising membership fees, overshadowing fiscal third-quarter profit, revenue and same-store sales that all beat forecasts.
Ambarella (NASDAQ:) stock rose 20% after the semiconductor design company reported a smaller-than-expected loss for the first quarter of fiscal year 2025 and provided an optimistic revenue outlook for the second quarter.
Flutter Entertainment (FLUT) stock rose 1% after the gaming firm announced the departure of group finance chief Paul Edgecliffe-Johnson.
Caesars (NASDAQ:) Entertainment (CZR) rose 12% after Bloomberg reported that activist investor Carl Icahn built a sizable stake in the casino company.
Veeva Systems (NYSE:) declined 11% after trimming full year revenue guidance due to concerns about the macro environment.
SentinelOne , Inc. (NYSE:) fell 16% after lowering full year revenue guidance. Analysts remain bullish on the name but said results keep it in the penalty box near term.