Stocks making the biggest moves after hours: CRM, OKTA, BOX, MRVL
Look for companies making headlines in extended trading. Salesforce – The software’s stock advanced 6% after the company posted a revenue beat for the third quarter. Revenue of $9.44 billion beat consensus forecasts of $9.35 billion, according to LSEG. Meanwhile, adjusted earnings of $2.41 per share slightly missed estimates of $2.44 per share. Marvell Technology – The integrated circuits developer jumped 10% after issuing positive guidance for the current quarter. The company sees fourth-quarter revenue of $1.80 billion, compared to the Wall Street estimate of $1.65 billion, per LSEG. Adjusted earnings and revenue in the third quarter also beat expectations. Okta – Shares rose 16% following the company’s stronger-than-expected fourth-quarter guidance. Okta sees revenue for the period between $667 million and $669 million, while analysts polled by LSEG are looking for $651 million. Adjusted revenue and third-quarter revenue also beat expectations. Pure Storage – The data storage company posted more than 26% third-quarter results that beat forecasts. Clean Storage posted adjusted earnings of 50 cents per share on revenue of $831 million. Analysts had expected earnings of 42 cents per share and a profit of $815 million, according to LSEG. Box – Shares fell 2.6% after the cloud-based content management company issued disappointing guidance for the fourth quarter. Box expects adjusted earnings of 41 cents per share on revenue of $279 million, in line with what analysts were looking for, per LSEG. Campbell’s – Shares of the canned soup company fell more than 3%. Campbell said CEO Mark Clouse will retire and join the NFL’s Washington Commanders as president. The company also released its first fiscal quarter results, reporting revenue of $2.77 billion, while analysts polled by LSEG were expecting $2.80 billion. Adjusted earnings of 89 cents a share topped estimates of 87 cents per share, however.
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