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

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The Dow Jones Industrial Average dropped Thursday, ending a tough August. But while all three indexes posted losses for the month, the results haven’t derailed an otherwise good year.

These stocks made moves Thursday: 

Salesforce
(ticker: 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 3%.

Ciena
(CIEN) rallied 16% 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.

Okta
(OKTA) shares rose 14% 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.

Dollar General
(DG) sank 12% after second-quarter earnings missed analysts’ expectations and the discount retailer reduced fiscal-year guidance. The stock was the worst performer in the
S&P 500
on Thursday.

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 12%.

Palantir Technologies
(PLTR) declined 8.3% to $14.98 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.

Shopify
(SHOP) jumped 11% 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.

Tilray
(TLRY) rose 11% and
Canopy Growth
(CGC) jumped 26% after the Drug Enforcement Administration said it would review the classification for cannabis. The U.S. Department of Health and Human Services has asked the DEA for cannabis to be classified as a Schedule III drug, as opposed to its current Schedule I.

UBS Group
(UBS) gained 5.6% 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.

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 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 9.3%.

Arista Networks
(ANET) gained 4.4% to $195.23 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 5% after the company beat estimates and raised its fiscal-year earnings guidance.

Victoria’s Secret
(VSCO) reported a surprise loss in the second quarter and forecast that fiscal-year sales would decrease in the low-single digit range from the year earlier. The stock, however, increased 6.9% after trading lower in the premarket session.

Write to Joe Woelfel at [email protected] 

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