Despite supply-chain challenges, the semiconductor equipment maker issued bullish guidance, sending shares higher after hours. AMAT projected fourth-quarter revenue of $6.65 billion, higher than the Street's estimates. CEO and President Gary Dickerson said in the earnings release that we feel confident in our ability to navigate macroeconomic challenges and remain positive about the long-term strength of the semiconductor market and our outsized growth opportunities. Dickerson said that ongoing supply chain challenges hindered our ability to meet demand during the quarter, and the company's top priority is increasing shipments to our customers. A filing with the SEC revealed that Bed Bath Beyond BBBY GameStop GME Chairman Ryan Cohen completed the planned sale of his entire stake in the company. Cohen's RC Ventures held an 11.8% position, or 9.4 million shares of stock and options, in the struggling retailer. After the news, shares fell by more than 30%. As of Thursday s close, Bed Bath Beyond shares have soared more than 200% in August.
Ross Stores ROSS Ross Stores cut its full-year guidance and posted a larger than expected decline in comp sales for the second quarter. Sales were $4.6 billion for the quarter, down from $4.8 billion a year ago, as inflationary pressures and increased promotional activity weighed on results. Barbara Rentler, the CEO of Ross Stores said, "We are facing a very difficult and uncertain macro-economic environment that we expect to strain our customers discretionary spending."
Bill.com Holdings BILL Shares jumped 19% after hours due to strong guidance and solid fourth-quarter revenue. Sales for the most recent quarter were $200.2 million, an increase of 156% from a year ago. Transaction fees went up by 77% year-over-year while subscription fees went up by 201%. The total revenue guidance for 2023, from $955.5 million to $973.5 million, topped the Street's estimate of $892.6 million.
Weber WEBR Shares fell after posting its biggest one-day gain on record in Thursday trading. Weber is one of the most talked stocks on WallStreetBets in the past 24 hours and is one of the most mentioned stocks on Yahoo Finance.