Salesforce, UiPath, Best Buy, Kohl's, Foot Locker, HP Inc., C3.ai, Nutanix, and More Movers

Salesforce reported adjusted first-quarter revenue that topped Wall Street forecasts, but the business software company's shares fell 20 percent after revenue fell to $9.13 billion and the current fiscal second quarter. Therefore, its outlook is unpredictable. Salesforce said it expects second-quarter revenue of $9.2 billion to $9.25 billion and adjusted earnings of $2.34 to $2.36 per share. Analysts had expected revenue of $9.35 billion and a profit of $2.40. The company's current outstanding performance obligations, which combine deferred revenue and order backlog, rose 10 percent in the first quarter, but Salesforce had asked analysts to expect growth of 12 percent.

UiPath was falling 35% as the automation-software company said it expected fiscal second-quarter revenue of $300 million to $305 million, short of analysts' estimates calling for $333 million. . UiPath's revenue outlook for the fiscal year also missed forecasts. “During the first quarter we saw increased deal scrutiny and lengthening sales cycles for large, multi-year deals,” Chief Financial Officer Asham Gupta said in a press release. “We have considered these factors, the current macroeconomic environment and our leadership transition in our updated guidance for the remainder of the year.” UiPath also said it will “reappoint” UiPath co-founder Daniel Dines as chief executive.

Foot Locker rose 20 percent after the athletic footwear retailer reported first-quarter adjusted earnings of 22 cents per share, topping forecasts for 12 cents.

Kohl's sank 25 percent after it swung to a surprise first-quarter loss and cut its full-year outlook. The retailer said it expects fiscal year profit of $1.25 to $1.85 per share, below the consensus estimate of $2.40.

HP Inc. earned 82 cents a share on an adjusted basis in the second quarter, just beating estimates of 81 cents, as revenue fell 0.8% to $12.8 billion but still beat expectations of $12.61 billion. said Enrique Lores, CEO of the personal computer and printer company Baron's that enterprises are “starting a new era” and that “the other half is seeing a funnel of opportunities that we saw before.” The stock rose 17 percent.

Best Buy rose 11 percent after the electronics retailer reported fiscal first-quarter earnings that beat estimates but posted lower-than-expected revenue and same-store sales as shoppers shunned expensive items. Be careful with sales.

Burlington Stores rose 18 percent after the company beat first-quarter revenue estimates and raised its margin and earnings guidance for the fiscal year ending in February.

C3.ai reported better-than-expected fiscal fourth-quarter earnings and the enterprise artificial intelligence software maker said it expects fiscal 2025 revenue between $370 million and $395 million, beating Wall Street estimates. which calls for $367.7 million. “Demand for enterprise AI continues to accelerate, and our first-to-market advantage in enterprise AI positions us well to take advantage of it,” said Chief Executive Thomas Seibel. Shares of C3.ai rose 17 percent.

Agilent Technologies lowered its fiscal year forecast for adjusted earnings and revenue, saying that while it sees the market for its products improving, it is “improving at a slower pace than expected.” Shares of the laboratory supplies and services company were falling 7.6 percent.

Nutanix fell 22% after the cloud computing company issued weak revenue guidance for the fiscal fourth quarter and year. The company said it expects fourth-quarter revenue of between $530 million and $540 million, down from estimates of $546 million.

American Eagle Outfitters was down 4 percent after the clothing retailer's fiscal first-quarter sales rose 6 percent from a year earlier to $1.14 billion but missed analysts' estimates of $1.15 billion.

PayPal rose 3.4% to $63.10 after analysts at Mizuho Securities upgraded the stock to Buy from Neutral and raised their price target to $90 from $68.

Dell Technologies is expected to report earnings after the closing bell on Thursday.
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Costco Wholesale
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Marvell Technology
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Zscaler
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MongoDB
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Reverse beauty
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Gap
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NetApp
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And

Nordstrom
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Write to Joe Woelfel at Joseph.woelfel@barrons.com.