In a dynamic day on Wall Street, several stocks experienced significant shifts following earnings announcements and market predictions. Burlington Stores reported impressive adjusted earnings of $4.07 per share on revenue of $3.28 billion, causing its stock to jump approximately 10% on strong fourth-quarter results. Meanwhile, shares of Amazon fell over 3%, erasing the previous session's 2.2% gain.
Veeva Systems saw its stock price surge by 9% after surpassing analysts' estimates with its fourth-quarter earnings and revenue. The cloud computing company also provided robust guidance for the current quarter. BJ’s Wholesale Club shares leapt 13% as investor confidence soared. Conversely, Victoria's Secret's shares declined by more than 5% following a disclosure of lighter-than-expected guidance for the first quarter.
Barclays issued a note highlighting that expectations for Marvell Technology had been elevated due to strong results from Amazon supply chain companies. Despite this, artificial intelligence-related companies faced setbacks despite having solid fundamentals. Marvell Technology met market expectations with adjusted earnings of 60 cents per share on $1.82 billion in revenue, slightly surpassing analysts' forecast of 59 cents per share on $1.80 billion in revenue.
MongoDB experienced a steep decline as its shares sank 24%. This drop came after the database software company issued guidance that projected adjusted earnings ranging from $2.44 to $2.62 per share and revenue between $2.24 billion and $2.28 billion for fiscal 2026. Grindr encountered a similar downturn, with shares slipping 16% following a full-year net loss of $131 million, significantly wider than the previous year's loss of $55.8 million.
The LGBTQ social network and dating app reported these losses amidst a challenging market environment. Rigetti, a player in quantum computing, posted a loss of 68 cents per share on $2.3 million in revenue, which was below analysts' expectations of a 7-cent loss per share and $2.5 million in revenue.
In contrast to the downward trends, Zscaler, a cloud security firm, witnessed its stock ascend nearly 6% after outperforming expectations in its fiscal second-quarter results on both the top and bottom lines.
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