Nvidia Leads After-Hours Stock Movers Following Earnings Reports

After-hours movers: NVIDIA, GitLab, Zscaler, PagerDuty By Investing.com

NVIDIA (NASDAQ:NVDA) fell 2.1%, extending an intraday slump of 9.5% that erased $279 billion in market value. The afterhours decline was tied in part to a report from Bloomberg that the DOJ sent subpoenas to the company as part of an escalating antitrust probe. Weakness during the regular session was tied to softening optimism about AI. Zscaler (NASDAQ:ZS) fell 7% after it issued full year 2025 EPS guidance that trailed estimates. PagerDuty (NYSE:PD) fell 13% after it lowered full year revenue guidance. For the full fiscal year 2025, it expects total revenue of $463 million to $467 million (down from $471 million - $477 million). GitLab (NASDAQ:GTLB) rose 11% after it beat EPS and revenue estimates and raised guidance. Management is confident in its ability to continue to exceed customer expectations and in the opportunity it has with AI. Asana (ASAN) fell 12% after it announced the departure of its CFO, and along with earnings and worse than expected full year guidance.

Biggest stock movers today: NVDA, ZS, and more (NASDAQ:ZS)

Stock futures edged lower in premarket trading on Wednesday, following the S&P 500's worst performance since early August in the previous session. Here are some of Wednesday's biggest stock movers: Biggest stock gainers GitLab (NASDAQ:GTLB) shares surged more than 15% after the company reported strong fQ2 results that exceeded expectations and raised its full-year outlook. For FQ3, GitLab expects adjusted EPS of $0.15 to $0.16 on sales of $187M to $188M, surpassing analyst forecasts of $0.11 per share on $187.7M in sales. Additionally, the company raised its full-year guidance, projecting sales between $742M and $744M and adjusted EPS of $0.45 to $0.47, up from prior estimates of $733M to $737M in sales and $0.34 to $0.37 per share in earnings. This revised guidance exceeds the consensus estimate of $736.67M in sales and $0.37 per share in earnings. Biggest stock losers NVIDIA's (NASDAQ:NVDA) shares continued their decline on Wednesday morning, dropping an additional 3% after a 10% fall the previous day, the largest one-day market cap drop for a U.S. stock in history. The sell-off was triggered following a report that the company received a subpoena from the Department of Justice as part of an antitrust investigation. The investigation centers on NVIDIA's dominance in the artificial intelligence accelerator market, with officials worried about potential barriers to switching to competitors. NVIDIA has denied any wrongdoing and reiterated its commitment to fair competition. Zscaler (NASDAQ:ZS) shares plunged 15% despite delivering strong FQ4 results that surpassed expectations. The drop came as the cybersecurity firm's outlook for FY2025 fell short of analyst estimates. Zscaler projects adjusted earnings of $2.81 to $2.87 per share, with a midpoint of $2.84, significantly below the estimated $3.36. Additionally, the company forecasts sales between $2.6B and $2.62B, with a midpoint of $2.61B, slightly under the expected $2.63B. More on related stocks: Nvidia Delivers Spectacular Earnings Report Zscaler, Inc. (ZS) Q4 2024 Earnings Call Transcript Nvidia said to receive subpoena from DOJ over antitrust probe: report Zscaler tumbles as full-year outlook falls short GitLab surges as Q2 results top expectations; raises full-year outlook