Biggest stock movers today: LULU, DELL, ULTA, and more

Stock futures moved up on Friday morning as market participants eagerly awaited the PCE price index release, a key indicator for the Federal Reserve’s monetary policy decisions.

Here are some of Friday’s biggest stock movers:

Biggest stock gainers

• Lululemon Athletica (NASDAQ:LULU) shares rose approximately 5% following the release of a mixed Q2 performance and outlook. Despite delivering better-than-expected Q2 profits and reporting improved gross and operating margins, the company revised its FY2025 revenue guidance downward to a range of $10.375B to $10.475B, compared to the previous range of $10.7B to $10.8B, below the consensus estimate of $10.62B. The company also adjusted its EPS guidance to $13.95 to $14.15, down from the earlier range of $14.27 to $14.47 (previously raised last quarter from $14.00 to $14.20), closely aligning with the $14.01 consensus estimate. Additionally, Lululemon provided Q3 EPS guidance of $2.68 to $2.73 on revenue of $2.34B to $2.365B, which also falls short of the consensus estimate of $2.73 per share on $2.41B in sales.
• MongoDB (NASDAQ:MDB) surged over 14% following a strong Q2 earnings report, which highlighted the benefits of robust new workload acquisition and better-than-expected Atlas consumption trends. The company anticipates Q3 revenue between $493M and $497M, with a midpoint of $495M, exceeding the consensus estimate of $479.2M. MongoDB also expects non-GAAP EPS of $0.65 to $0.68 (midpoint $0.665) for Q3, compared to the consensus estimate of $0.61. For FY2025, the company forecasts revenue between $1.92B and $1.93B (midpoint $1.925B), surpassing the consensus estimate of $1.90B and its previous guidance of $1.88B to $1.90B. Additionally, MongoDB expects non-GAAP EPS for the year to range from $2.33 to $2.47 (midpoint $2.40), exceeding the consensus estimate of $2.27.
• Dell Technologies (NYSE:DELL) shares increased by 3% after surpassing expectations in its Q2 results, driven by the strong performance of its Infrastructure Solutions Group. This segment, which includes AI-optimized servers and networking hardware, generated $11.65B in revenue for the quarter, marking 38% Y/Y growth. Notably, servers and networking revenue surged by 80% to $7.67B, significantly exceeding the consensus of $5.96B.
• Shares of Marvell Technology (NASDAQ:MRVL) soared more than 7% after the semiconductor infrastructure company posted FQ2 results and guidance that exceeded consensus estimates. Despite a 5% Y/Y decline in overall revenue, Marvell’s data center segment nearly doubled its revenue, reaching $880.9M compared to $459.8M in the previous year. For Q3, Marvell expects adjusted EPS to range from $0.35 to $0.45, with a midpoint of $0.40, surpassing the estimate of $0.38. The company also forecasts revenue between $1.45B and $1.46B, above the consensus estimate of $1.4B. Additionally, Marvell anticipates a gross margin of 61% for the quarter, in line with estimates.

Biggest stock losers

• Ulta Beauty (NASDAQ:ULTA) shares plunged about 7% after the company underperformed in Q2 and lowered its outlook. The company now expects FY2024 net sales to range between $11B and $11.2B, down from its previous forecast of $11.5B to $11.6B. The midpoint of this range, $11.1B, falls below the consensus estimate of $11.5B. Ulta also revised its earnings per share guidance to $22.60 to $23.50, down from the prior range of $25.20 to $26.00, with the new midpoint of $23.05 coming in below the $25.06 consensus estimate. Additionally, the company now anticipates comparable sales for the year to decline by 2% to 0%, a significant downward revision from its earlier guidance of 2% to 3% growth.