Dell Profit Outlook; Gap Tariff Warning; Costco Jumps

On this episode of Stock Movers:

 - Dell Technologies (DELL) is higher this morning after reporting a profit outlook for the year that beat analysts' estimates. The company reported a significant increase in orders for servers to run AI networks, with $12.1 billion in AI orders in the quarter ended May 2, surpassing the entirety of shipments in all of FY25. Dell expects profitability to improve in its computer and servers-and-storage businesses, and has accelerated share repurchases, which will boost profit on a per-share basis.

 - Gap (GPS) is sinking on a tariff warning. The company predicted a tariff impact of up to $300 million and revealed weakness at Banana Republic and Athleta. Gap warned of a $250 million to $300 million hit from tariffs, but kept its guidance stable and said it has strategies to mitigate more than half of that cost.

 - Ulta (ULTA) share are higher this morning after the cosmetics retailer boosted its earnings per share forecast for the full year. Analysts flag strong execution at the company, with Citi noting that competitive pressures from new points of distribution, like Sephora, is abating.

 - Costco (COST) shares nudged higher after the bell Thursday after the big-box retailer posted third quarter earnings per share that beat the average analyst estimate. The company is working well to soften tariff exposure and can gain further market share moving forward, according to some analysts. 

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