Top after-hours movers: Bed Bath & Beyond, Applied Materials, Weber, and more

The most current tickers in after-hours trading:

Applied materials (AMAT): The semiconductor equipment maker issued bullish guidance despite supply chain challenges, sending shares higher after hours. AMAT forecast fourth-quarter revenue of $6.65 billion, above Street estimates. In the earnings release, CEO and President Gary Dickerson noted, “We feel confident in our ability to weather the macroeconomic headwinds and remain very positive about the long-term strength of the semiconductor market and our tremendous growth opportunities.” Dickerson also emphasized that “continued supply chain challenges limited our ability to meet demand” during the quarter and “the company’s top priority remains increasing supplies to our customers.”

Bed Bath & Beyond (BBBY): GameStop (GME) Chairman Ryan Cohen completed the planned sale of his entire stake in the company, disclosed filing with the SEC. Cohen’s RC Ventures held an 11.8% position, or 9.4 million shares and options, in the struggling retailer. Shares fell more than 30% in after-hours trading following the news. As of Thursday’s close, shares of Bed Bath & Beyond had jumped more than 200% in August.

Ross Stores (ROS): Ross Stores cut its full-year guidance and reported a bigger-than-expected drop in PC sales for the second quarter. Sales came in at $4.6 billion for the quarter, down from $4.8 billion a year ago, as inflationary pressures and increased promotional activity weighed on results. Ross Stores CEO Barbara Rentler commented: “We are facing a very difficult and uncertain macroeconomic environment which we expect will continue to weigh on our customers’ discretionary spending. Holdings (WAS): Shares jumped 19% after hours, led by solid fourth-quarter earnings and solid guidance. Sales for the most recent quarter totaled $200.2 million, an increase of 156% over the prior year. Subscription fees jumped 77% year over year, while transaction fees jumped 201%. Total 2023 revenue estimates of $955.5 million to $973.5 million beat the Street estimate of $892.6 million.

Weber (WEBR): Shares fell in after-hours trading after posting their biggest one-day gain in trading history on Thursday. Weber is the most popular ticker on Yahoo Finance and among the most mentioned stocks on WallStreetBets in the last 24 hours.

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