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Stocks moving in after hours: Gap, Applied Materials, Ross Stores, Palo Alto Networks, Williams-Sonoma

Yahoo Finance Live co-host Seana Smith examines several stocks trending in the after-hours trading session.

Video transcript

[AUDIO LOGO]

SEANA SMITH: All right, guys, let's take a look at some of these after-hours trenders. We have five stocks for you-- Gap, Applied Materials, Ross Stores, Palo Alto Networks, and Williams-Sonoma. So let's get to it. Gap shares up just around 6 and 1/2% after hours, a very strong report here from the retailer. Beat on both the top and bottom lines. Comp sales for total Gap sales up just about 1%. The estimate was for a decline of 3%. You're looking at gains after hours. And really, Wall Street discounting the fact that Gap warned that holiday sales might not be as strong as they initially had expected. Over the last three months, we're looking at gains of just about 15%.

Taking a look at Applied Materials, that stock up just about 3% in extended trading. EPS and sales beating the Street's forecast as well as a strong guidance here from the company. A couple of comments coming out from executives saying that their backlog is still increasing. They also expect the overall chip market to reach a trillion dollars by 2030. We're looking at losses of just about 1 and 1/2%, essentially flat over the last three months. Year-to-date, we're off still just about 33%.

Taking a look at Ross Stores next up, that stock up just about 12% after hours. It's actually fared relatively well amid this downturn that we're seeing in the economy. Over the last three months, the stock up just around 5 and 1/2%. Third quarter EPS beat strong fourth quarter guidance. CEO Barbara Rentler warning, though, on consumer spending, something that we have certainly heard from other retailers so far this earnings season. She said that, quote, "expect a very promotional holiday selling season, also ongoing inflationary headwinds, to pressure our low to moderate income customers." Again, year-to-date, though, the stock is still in the red, off just about 14%.

Moving on to Palo Alto Networks, that stock up nearly 5% in after-hours trading. Second quarter adjusted EPS topping what the Street was expecting in terms of the guidance here from the company. They now expect to see $0.76 to $0.78 per share. Full-year profit outlook also very strong. Fiscal first quarter earnings did beat on both the top and bottom lines. We're looking at losses so far this year, up just about 15%.

And wrapping it up with Williams-Sonoma, that stock under a significant amount of pressure. Although, it was off just over 10% a couple of minutes ago. Now we're looking at losses of just about 8%. They missed on EPS. Revenue, though, did come in slightly better than what the Street was looking for. The company, though, not reiterating or updating its guidance through fiscal year 2024, citing macro uncertainty. That's the big driver in shares after hours. Over the past three months, the stock has been under pressure, off just about 21%. Year-to-date, we're looking at losses at pretty much the same, off just about 23%. Rachelle?