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Lululemon beat sales and earnings estimates as demand for high-end sportswear stayed strong.
Dreamstime
Stocks roared higher Friday following the release of the U.S. jobs report and the Senate approval of a deal to raise the debt limit late Thursday.
These stocks moved the most:
MongoDB
(ticker: MDB) stock surged 28% after the database-software company’s earnings and outlook convincingly beat expectations. The company reported adjusted earnings of 56 cents per share, above the analysts’ consensus of 18 cents per share, according to FactSet data. Its second-quarter earnings guidance also topped expectations.
SentinelOne
(S) stock plunged 35% after the cybersecurity company missed earnings estimates and cut annual guidance, noting that macroeconomic pressures continue to impact deal sizes and sales cycles.
Lululemon Athletica
(LULU) shares rose 11% after the retailer reported strong fiscal first-quarter earnings and sales as demand for high-end sportswear remained robust. The company also raised its guidance for the fiscal year 2023.
Verizon Communications
(VZ) and
T-Mobile US
(TMUS) stocks fell 3.2% and 5.6%, respectively, following reports that
Amazon.com
(AMZN) is in talks with those companies to possibly offer low-cost or even free nationwide mobile phone service to Prime subscribers.
Dish Network
(DISH), which was also included in the report as a potential negotiator, surged 16%.
Discount retailer
Five Below
(FIVE) was up 7.8% after raising the low end of its full-year profit and revenue guidance. However, CEO Joel Anderson said the company’s customers face “multiple macro headwinds.”
Broadcom
(AVGO) stock gained 2.8% after beating earnings estimates and offering a better-than-expected outlook for the current quarter. The semiconductor maker’s CEO Hock Tan said generative AI applications will boost demand for its chips.
Shares in
Dell Technologies
(DELL) rose 4%. The company posted mixed guidance amid unexpectedly strong fiscal first-quarter earnings.
C3.ai
(AI) stock fell 7.1% Friday. It’s been a volatile week for the AI software provider’s stock, to say the least. After surging 33% Tuesday, it then fell 9% Wednesday, and declined 13% Thursday. The stock climbed 125% in May alone and is up 188% so far this year.
Write to Angela Palumbo at [email protected] and Callum Keown at [email protected]
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