Premarket Movers|UiPath Up 11%; Ulta Beauty Up 8%; Dell Up 2%; Gap Down 15%; Marvell Down 3%

Tiger Newspress
30 May

UiPath shares rose 11% in premarket trading after the company reported better-than-expected results for the first quarter and raised its full-year outlook.

Ulta Beauty raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up 8% in premarket trading.

Dell Technologies Inc. raised its annual profit forecast on Thursday, signaling growing demand for its AI-powered servers that are equipped with Nvidia's powerful chips. Shares of the company, whose servers are used by customers such as Elon Musk's AI startup xAI and CoreWeave, rose 2% in premarket trading.

Gap said on Thursday that U.S. President Donald Trump's tariffs would take a bite out of its annual operating income but offered forecasts excluding that hit, sending its shares tumbling 15% in premarket trading. The company expects about $250 million to $300 million in tariff-related costs, but aims to mitigate more than half of that amount.

Marvell shares fell more than 3% in premarket trading on Thursday. Marvell Technology delivered fiscal first-quarter results in line with expectations - but the latest numbers may be less important than the company's upcoming commentary, as some analysts on Wall Street remain uncertain about Marvell's business with Amazon.com.

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