Salesforce, Okta, Ciena, Dollar General, Chewy, Shopify, and More Market Movers

Salesforce
(CRM), the cloud-based enterprise software provider, reported second-quarter earnings that beat analysts’ estimates and issued an outlook for the third quarter and fiscal year that also topped forecasts.
Salesforce
said it expects fiscal-year adjusted earnings of $8.04 to $8.06 a share on revenue of $34.7 billion to $34.8 billion. Analysts had been predicting profit of $7.42 a share on revenue of $34.7 billion. The stock rose 6.4%.

Okta
(OKTA) shares rose 12% after the identity-management software company reported better-than-expected adjusted earnings and revenue in the second quarter and said it saw signs of stabilization in spending on information technology.
Okta
raised its fiscal-year forecast, saying it expects adjusted profit of $1.17 to $1.20 a share on revenue of $2.21 billion to $2.22 billion Analysts had expected earnings of 91 cents a share on revenue of $2.18 billion.

Ciena
(CIEN) rallied 13% after the optical networking company posted better-than-expected fiscal third-quarter adjusted earnings and revenue, driven by growing demand for the company’s hardware from cloud computing providers.

Dollar General
(DG) sank 16% after second-quarter earnings missed analysts’ expectations and the discount retailer reduced fiscal-year guidance.

Chewy
(CHWY), the online seller of pet foods and accessories, reported a surprise second-quarter profit and higher-than-expected sales. The company finished the quarter with 20.4 million active customers, matching expectations but falling from a year earlier.
Chewy
said it expects third-quarter net sales of between $2.74 billion and $2.76 billion, below expectations of $2.79 billion. Chewy shares fell 13%.

Shopify
(SHOP) jumped 6.3% after
Amazon.com
(AMZN) released the Buy with Prime app for Shopify that will allow U.S.-based merchants to more easily offer shoppers the option to buy items using their Prime benefits.

UBS Group
(UBS) gained 5.4% after the Swiss bank reported a second-quarter net profit of $29 billion following the integration of Credit Suisse, the former rival that was acquired in June.

Palantir Technologies
(PLTR) declined 7.3% to $15.14 after
Morgan Stanley
downgraded shares of the data-analytics software company to Underweight from Equal Weight. Analysts raised the price target to $9 from $8.

CrowdStrike
(CRWD) earned 74 cents a share on an adjusted basis in the second quarter, higher than analysts’ expectations of 56 cents. Revenue rose to $731.6 million from $535.2 million and also was higher than estimates. Annual recurring revenue was $2.93 billion, up 37%. The cybersecurity company raised its outlook for the fiscal year and the stock rose 9%.

Arista Networks
(ANET) was rising 2% to $190.85 after analysts at Citi upgraded the provider of data center networking hardware to Buy from Neutral and raised the price target to $220 from $177.

Signet Jewelers
(SIG) rose 6.8% after the company beat estimates and raised its fiscal-year earnings guidance.

Victoria’s Secret
(VSCO) was falling 4.1% after reporting a surprise loss in the second quarter and forecasting that fiscal-year sales would decrease in the low-single digit range from the year earlier.

Write to Joe Woelfel at [email protected]