Five Stocks That Dominated the Movement Charts

Here we look at some of the biggest movers last week, while only considering the companies with a market cap of at least $5 billion. 

RH (RH:US) shares fell more than 16% after the home furnishing company reported weaker-than-expected sales for the third quarter. Revenue for the third quarter is anticipated to be between $740 million and $760 million, lower than the estimate of $774 million. Full-year revenue is expected to range from $3.04 billion to $3.1 billion, in line with the consensus of $3.07 billion.

For Q2, the company reported adjusted EPS of $3.93, surpassing the estimated $2.48. Net revenue for the second quarter reached $800 million, exceeding the estimate of $777.7 million.

“We believe our inflection point will peak in the first half of 2024 as our new collections fully ramp and we begin another cycle of Sourcebook mailings, completely transforming and refreshing the assortment across the entire brand over a 12-month period,” the management said in a shareholder letter.

Senator Tommy Tuberville was trading RH shares earlier this year.

UiPath (PATH:US) stock gained 15.5% after the AI-focused company reported better-than-expected results and offered a positive outlook. Total Q2 revenue for the second quarter reached $287.3 million, showing a robust year-over-year growth of 19%. This surpassed the estimate of $282.2 million.

The company reported adjusted EPS of $0.09, marking a significant improvement compared to the loss per share of $0.02 in the same period last year. This result also exceeded the estimate of $0.03.

“Our automation platform enables customers to operationalize the promise of AI today with an integrated set of capabilities that combines our Specialized AI and governance with the creative power of Generative AI to unlock the almost limitless value this powerful combination creates,” said Daniel Dines, UiPath Co-Founder and Co-Chief Executive Officer.

PATH sees FQ3 and FY revenue at $315.5 million and $1.27 billion, respectively. Analysts were looking for $315.8 million and $1.27 billion.

FMC Corp (FMC:US) shares fell as much as 13.3% last week after a short-seller Blue Orca Capital said it has a short position.

“We are short $FMC because it concealed from investors that recent legal defeats have enabled competitors to sell generics up to 80% below the price of FMC’s flagship insecticide. The dam is broken as sales and margins are set to collapse,” the short-seller said in a tweet on X.

In response to Blue Orca’s statement and allegations, FMC has asserted that the report contains "misleading and factually inaccurate" statements regarding its patents related to diamide insecticide technology.

“FMC is disappointed a short seller firm would publish a misleading report that contains such speculation and factually incorrect statements,” the company said in a statement.

FMC Corp has also noted that the report "inaccurately speculated" on the strength of its business. The company emphasizes that it has consistently disclosed material developments in diamide litigation through its filings with the Securities and Exchange Commission (SEC).

Congressman Ro Khanna was trading FMC shares earlier this year.

Samsara (IOT:US) shares gained more than 13% after the company raised its full-year forecast. Samsara anticipates total revenue in the range of $896 million to $900 million, an increase from the previous range of $866 million to $874 million. This surpasses the consensus estimate of $872.8 million. The adjusted EPS is expected to be between $0 to $0.02, compared to the previous forecast of a loss of $0.02 to $0, and it exceeds the estimated loss of $0.02.

For the third quarter forecast, total revenue is expected to range from $223 million to $225 million, higher than an estimate of $220.3 million. Adjusted EPS is expected to be in the range of $0 to $0.01, while analysts were looking for flat adjusted EPS.

For Q2, Samsara reported an adjusted EPS of $0.01, a significant improvement compared to a loss of $0.04 year-over-year, and it exceeded the estimated loss of $0.02. Revenue for the second quarter reached $219.3 million, showing a substantial increase of 43% year-over-year, compared to the estimated $207.5 million.

Congressman Daniel Goldman disclosed last month he sold some IOT shares in July.

Dell Technologies (DELL:US) rose to fresh record highs last week, ultimately closing the week 10% higher. In addition to reporting strong Q2 results, the PC maker also said it has more than $2 billion in AI-related server sales, therefore attracting AI-focused inflows.

For Q2, total net revenue reached $22.93 billion, surpassing the consensus estimate of $20.84 billion. The Infrastructure Solutions Group's net revenue was $8.46 billion, showing an 11% year-over-year decrease but still exceeding the estimate of $7.35 billion. The Client Solutions Group's net revenue was $12.94 billion, which also exceeded the estimate of $12.06 billion.

The company reported an adjusted operating income of $1.98 billion, surpassing the estimate of $1.5 billion. The adjusted EPS stood at $1.74, crushing the average analyst estimate of $1.14.