Let’s check out the companies that are becoming a hot topic for after-hours trading. Gap – The clothing retailer’s stock rose about 14% after Gap announced Michael Francis would join Old Navy’s executive team starting Nov. 2. He will succeed Haio Barbeito, who will serve as CEO from 2022. Gap’s second-quarter adjusted earnings beat expectations, coming in at 52 cents per share versus LSEG’s consensus estimate of 48 cents. Marvell Technology — Semiconductor stock fell 6%. Marvell had expected adjusted earnings of $1.10 per share, plus or minus 5 cents, for the current quarter, compared with analyst estimates compiled by LSEG of $1.07 per share. The company also expects non-GAAP gross margin for the period to be in the range of 57.5% to 58.5%, compared to StreetAccount’s consensus call for 58.5%. Workday — The enterprise software stock rose nearly 1%. Workday’s second-quarter results beat the expectations of analysts surveyed by LSEG on both revenue and bottom line. Rubrik — Digital Securities stocks fell 7%. Rubrik’s second-quarter non-GAAP gross margin was 81%, compared to StreetAccount’s consensus estimate of 81.7%. However, the company outperformed in sales and bottom line profits. Rubrik had expected pre-item earnings of 20 cents per share and revenue of $427 million for the quarter, while analysts, per LSEG, expected earnings of 4 cents per share and $396 million. Autodesk – The 3D design software maker fell 5% after its revenue forecast missed Wall Street’s expectations. Autodesk expects third-quarter adjusted earnings to be in the range of $3.04 to $3.09 per share, while analysts surveyed by LSEG expected $3.14 per share. Full-year adjusted earnings guidance ranged from $12.52 to $12.60 per share, compared to expectations of $12.60. Elastic NV – The data analytics company’s stock price rose 20% after its full-year earnings forecast beat analysts’ expectations. The company expects adjusted earnings to be in the range of $3.29 to $3.37 per share and revenue of $1.998 billion to $2.01 billion. Analysts polled by LSEG had expected earnings of $3.24 per share, or $1.99 billion. Adjusted profit, sales and operating profit for the first quarter also exceeded expectations. SentinelOne — The cybersecurity stock fell about 4% after the company issued a weak outlook for earnings per share for the current quarter and full year. This overshadowed the better-than-expected second-quarter results for both areas. — CNBC’s Darla Mercado contributed reporting
