Hot Stocks: WDAY gains on earnings, GPS rises, DELL and MRVL both sink on weaker outlooks
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Workday, Inc. (NASDAQ:WDAY) shares are in positive territory on Friday after the stock outdid its second quarter earnings. Also higher are share of The Gap, Inc. (NYSE:GPS) as it outlined actions to better optimize profitability and cash flow.
Switching gears and investors will notice that Dell Technologies Inc. (NYSE:DELL) and Marvell Technology, Inc. (NASDAQ:MRVL) are in negative trading territory as both organizations provided the Street with weaker forward guidance.
Gainers
Workday, Inc. (WDAY) has tracked to the topside on Friday +10.8% after the company reported stronger than expected second quarter results that topped Non-GAAP EPS and revenue estimates. WDAY delivered Q2 Non-GAAP EPS of $0.83, which surpassed forecasts by $0.03. WDAY also beat on revenue by $20M, as it reported revenue of $1.54B (+21.9% Y/Y).
Shares of The Gap, Inc. (GPS) gained 6.4% in the early trading session. GPS is in the green after it released its second quarter earnings report. The apparel retailer stated that it is taking actions to better optimize profitability and cash flow in the near term by reducing operating costs as well as impairing unproductive inventory.
Decliners
Dell Technologies Inc. (DELL) has found itself in negative territory as the stock is down 5.2% after the company gave a financial outlook that suggested tough times are in the making for the PC giant.
Marvell Technology, Inc. (MRVL) slid 3.8% in early market trading after the semiconductor company issued third-quarter guidance that fell just shy of analysts' estimates at the mid-point. MRVL expects sales to be $1.56B and analysts were expecting third-quarter revenue of $1.58B. 
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