Applied Materials, Keysight, Farfetch, XPeng, Deere, and more market movers

Applied Materials (AMAT)’s fiscal third-quarter earnings beat Wall Street’s expectations as did its fourth-quarter forecast, sending shares of the semiconductor manufacturing equipment maker up 3.4% in premarket trading. CEO Gary Dickerson said in a statement.

Keysight Technologies (KEYS), the test equipment maker, issued a weaker-than-expected forecast for its fiscal fourth quarter and the stock was down 11% in pre-market trading. Keysight forecast earnings of $1.83 to $1.89 per share between $1.29 billion and $1.31 billion. Analysts had expected earnings of $2 per share on revenue of $1.39 billion.

Farfetch (FTCH) fell 38% after the luxury fashion company’s second-quarter sales of $572 million fell short of analysts’ expectations of $650 million.

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XPeng (XPEV) reported a second-quarter adjusted loss of 43 cents a share, broader than analyst estimates. Shares of the US-listed Chinese electric vehicle maker fell 6.3% in pre-market trading.

Bill Holdings (BILL), which makes software that helps small businesses pay their bills, said it expects 2024 fiscal revenue of $1.29 billion to less than $1.31 billion, which fell short of analysts’ expectations. Bell shares fell 5.5%.

Ross Store Stores (ROST), the discount retailer, posted better-than-expected second-quarter earnings and increased guidance. The stock rose 5%.

Bloomin Brands

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(BLMN), which operates Outback Steakhouse, was up 8.8% in premarket trading. Starboard Value has built a stake of more than 5% in Bloomin’ Brandsmaking it one of the company’s five largest shareholders, the Wall Street Journal reported, citing people familiar with the matter.

Alibaba’s (BABA) US Deposit Receipts fell 2.5% and JD.com fell 3.6% as China’s central bank ramped up its defense of the yuan as concerns about the health of the world’s second-largest economy continued to mount.

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Deere (DE) is scheduled to report its quarterly earnings before the opening bell, while Palo Alto Networks (PANW) took the unusual step of scheduling the release of its quarterly earnings after the close of trading on Friday. Like Eric Savitz from Barron Note that companies rarely report earnings, or other important financial news, on a Friday afternoon, especially during the summer. This leads investors to believe that Palo Alto will deliver news that shareholders may not like. The stock fell 0.7% in pre-market trading.

Write to Joe Woelfel at [email protected]

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