Check out the companies making headlines in extended trading. Applied Materials – Shares of the semiconductor company fell more than 7%. Reuters reported, citing people familiar, that Applied Materials was being investigated by the Justice Department for possible evasion of export restrictions on Chinese chip company SMIC. Gap – Shares rose 15% after the clothing chain reported better-than-expected third-quarter results. Gap posted adjusted earnings of 59 cents per share on revenue of $3.77 billion, while analysts polled by LSEG forecast earnings of 19 cents per share on revenue of $3.60 billion. ChargePoint Holdings – Shares of the electric vehicle charging network plunged 26% after the company announced a leadership shakeup. COO Rick Wilmer has been named ChargePoint’s new CEO, effective November 16, replacing Pasquale Romano. Separately, ChargePoint announced preliminary third-quarter results, including revenue guidance of $108 million to $113 million (from $150 million to $165 million). Compass Minerals International – Shares fell 2% after the company reported a larger-than-expected loss in its fiscal fourth quarter. Compass Minerals reported an adjusted loss of 6 cents per share, while analysts polled by FactSet forecast a loss of 2 cents per share. Ross Stores – The clothing retailer rose 5.7% after reporting third-quarter sales and profit increases. Ross reported earnings of $1.33 per share on revenue of $4.92 billion, while analysts polled by LSEG reported earnings of $1.22 per share on revenue of $4.85 billion -dollar forecasts.
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October 25, 2023