On this episode of Stock Movers:
- Dell Technologies (DELL) boosted its annual outlook and posted quarterly sales and profit that topped analysts’ estimates, driven by strong demand for artificial intelligence servers. The company raised its annual sales projection to about $107 billion and earnings to about $9.55 a share, and said it shipped $8.2 billion worth of AI servers in the fiscal second quarter. Dell's PC business struggled in the quarter, with sales increasing just 1% to $12.5 billion, while revenue from the infrastructure group rose 44% fueled by a 69% jump in servers and networking. The shares gained about 3% in extended trading after closing at $134.05 in New York. The stock has risen 16% this year.
- Petco (WOOF) surged as much as 31% after raising its earnings targets for the year as the company’s turnaround starts showing signs of progress. Petco brought in Chief Executive Officer Joel Anderson after reporting its first annual net loss as a public company, tasking him with a mandate to reinvigorate the struggling pet retailer. Thus far, the his efforts have focused on revamping stores — as well as closing underperforming locations — reworking inventory and adding staff alongside investments in high growth areas like animal pharmacies and grooming.
- Best Buy (BBY) shares fell as much as 6.6%, the most intraday in nearly three months, after the retailer of consumer electronics and appliances reported second-quarter results and reiterated its 2026 forecast. During the conference call, the company said it expects continued gross profit pressures in the back half of the year, while noting that consumers remain cautious about big-ticket purchases.
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