Stocks Soar After Hours for Disney, Ulta, Marvell, and More
Disney Reinstates Dividend Amid Proxy Fight
Walt Disney shares surged by 1% after the company reinstated its dividend at 30 cents a share. The move comes as activist investor Nelson Peltz, and his firm, engage in a proxy fight with Disney, calling for additional seats on the company’s board.
Ulta Beauty Shines with Strong Third Quarter Results
Ulta Beauty experienced a significant surge of over 11% in its shares after reporting strong third-quarter results. The company achieved $5.07 per share on $2.48 billion in revenue and updated the low end of its full-year guidance. Additionally, Ulta’s chief financial officer is set to retire in April.
Marvell Technology Exceeds Expectations
Marvell Technology saw a 3% increase in its shares after surpassing Wall Street’s third-quarter expectations on both the top and bottom lines. As the chipmaker posted adjusted earnings of 41 cents per share on $1.42 billion in revenue.
Elastic’s Stock Skyrockets After Beating Revenue Expectations
Elastic shares skyrocketed by nearly 15% after the company reported revenue for the recent quarter that exceeded Wall Street’s expectations. Notably, the subscription revenue also surpassed estimates, prompting the company’s CEO to highlight the resurgence of interest in search driven by generative artificial intelligence.
Mixed Results Impact Dell Shares
Dell reported mixed third-quarter results, which slightly impacted its shares. While the company surpassed adjusted earnings expectations by 41 cents a share, its revenue fell short of the expected $23 billion.
PagerDuty Increases Full-Year Outlook
PagerDuty experienced a pop of over 7% in its shares after lifting its full-year outlook. The company now anticipates its earnings per share, excluding items, to range between 72 cents and 73 cents for the year, compared to its prior guidance of 60 cents to 65 cents.
Ambarella and Samsara Show Positive Growth
Ambarella shares rose by more than 4%, while Samsara jumped 13% in extended trading after both companies exceeded revenue expectations and provided upbeat guidance for the future.
Overall, the after-hours trading for these companies has been notably positive, demonstrating strong financial performances and optimistic outlooks for the future.
