Stocks moving in after-hours: Ross Stores, Applied Materials

These are the stocks moving in after-hours trade on May 18, 2023.

Ross Stores (ROST)

Ross Stores share dipped in the post market after the low-priced retailer said it still sees comp sales growth for the current quarter to stay “relatively flat.”

“There remains a high level of uncertainty in today’s macro-economic and geopolitical environments,” Barbara Rentler, CEO of Ross Stores, said in a statement. “In addition, prolonged inflationary pressures continue to negatively impact our low- to moderate-income customers’ discretionary spend.”

Earnings per share for this year’s second quarter are forecast to be $1.07 to $1.14 versus $1.11 for the same period last year.

The company posted first quarter EPS of $1.09 along with sales of $4.49 billion. The three month period’s operating margin of 10.1% came in below Wall Street estimates of 10.2%.

Analysts were paying close attention to commentary about the health of the consumer. Recent results from Walmart and Target show shoppers are…

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