Marvell, Workday, Gap, Ulta Beauty, Big Lots, and More Stock Market Movers

Nvidia
(NVDA) slipped 0.4%. The stock closed with a gain of more than 24% on Thursday after the chip maker issued a fiscal second-quarter revenue forecast that smashed analysts’ estimates on the back of surging demand for its chips that enable artificial intelligence applications. Nvidia gained almost $184 billion in market cap on Thursday, according to Dow Jones Market Data, marking the third-largest one-day market-cap gain on record for any U.S. company.

Workday
(WDAY) was rising 8.7% after first-quarter adjusted earnings topped Wall Street forecasts and subscription revenue rose 20%. The company said it expects second-quarter subscription revenue of $1.611 billion to $1.613 billion, up 18% from a year earlier. Workday also named a new chief financial officer.

Costco Wholesale (COST) reported fiscal third-quarter earnings and sales that missed expectations and the stock was down slightly. Same-store sales rose 0.3%, below Wall Street estimates that called for growth of 2.8%.

Gap
(GPS) earned 1 cent a share on an adjusted basis in its fiscal first quarter, surprising Wall Street, which expected the retailer to report a loss of 16 cents. The stock was up 14%.

Ulta Beauty
(ULTA) was falling 12% after the beauty retailer reported fiscal first-quarter profit that slightly missed estimates. The company raised its fiscal-year sales forecast but guided for a lower operating margin of 14.5% tp 14.8%, down from a previous outlook of up to 15%.

American depositary receipts of
PDD Holdings
(PDD), the mobile marketplace company formerly known as Pinduoduo, were jumping 14% after fiscal first-quarter earnings and revenue topped estimates.

Big Lots
(BIG) declined 19% after the retailer’s adjusted loss in its fiscal first quarter was much wider than analysts’ estimates and same-store sales in the period dropped 18%.
Big Lots
also said it would suspend its dividend.

Paramount Global
(PARA) rose 5.8% after The Wall Street Journal reported that that entertainment company’s controlling shareholder, Shari Redstone’s National Amusements, secured a $125 million investment from merchant bank BDT & MSD Partners.

MongoDB
(MDB) was falling 2.8% to $276.82 after shares of the database software provider were downgraded to Sell from Neutral at Guggenheim. The price target was raised to $210 from $205 “based on modestly raised forecasts,” the analysts said.

Autodesk (ADSK) reported fiscal first-quarter adjusted earnings of $1.55 a share, matching Wall Street estimates, revenue rose 8% in the period to $1.27 billion, and total billings were up 4%. The design software maker said it expects fiscal second-quarter revenue of $1.32 billion to $1.33 billion, in line with forecasts. The stock fell 1.2%.