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Best Buy reported fiscal second-quarter results that beat expectations with 4.1% comparable sales growth and raised its full-year revenue and earnings guidance, though shares fell about 7% in morning trading.
CrowdStrike and Okta shares surged on strong earnings results, with stocks gaining 20% and 29% respectively as artificial intelligence adoption drives increased cybersecurity spending among customers.
Gap announced Michael Francis as the new CEO of Old Navy, effective November 2, as the struggling brand faces declining sales. Gap shares jumped 12% on the leadership transition announcement.
BYD shares declined nearly 5% in Hong Kong after the Chinese EV maker reported first-half revenue down 7.1% and net profit falling 20.5% amid intense domestic competition.
ImmunityBio shares climbed 9.94 percent following a meeting between its founder and Turkish President Erdogan, signaling progress on the company’s planned Turkey expansion.
Broadcom posted strong quarterly results and issued an optimistic forecast, citing accelerating business with artificial intelligence labs and major custom chip deployments planned for coming years.
