Salesforce, Okta, UBS, Chewy, Palantir, CrowdStrike, and more stock market engines

Salesforce (CRM), a cloud-based enterprise software provider, reported second-quarter earnings that beat analyst estimates and released projections for the third quarter and fiscal year that also beat expectations. Salesforce said it expects fiscal year adjusted earnings of $8.04 to $8.06 per share on revenue of $34.7 billion to $34.8 billion. Analysts had expected a profit of $7.42 per share on revenue of $34.7 billion. The stock is up 5.5% in pre-market trading.

Shares of Okta (OKTA) rose 11% 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 IT spending. Okta raised its forecast for the fiscal year, saying it expects adjusted earnings of $1.17 to $1.20 per share on revenue of $2.21 billion to $2.22 billion. Analysts had expected earnings of 91 cents per share on revenue of $2.18 billion.

Shares in UBS Group rose 4.2% after the Swiss bank reported second-quarter net profit of $29 billion following the merger of Credit Suisse, a former rival acquired in June.

Chewy (CHWY), an online seller of pet food and accessories, reported that A Surprise earnings in the second quarter And higher-than-expected sales. The company finished the quarter with 20.4 million active customers, which was in line with expectations but down from a year earlier. Chewy said she expects third-quarter net sales to be between $2.74 billion and $2.76 billion, lower than the forecast of $2.79 billion. Chewy shares fell 5.8%.

Palantir Technologies (PLTR) stock fell 4.3% to $15.63 after Morgan Stanley downgraded the data analytics software company’s stock to low 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, above analyst expectations of 56 cents. Revenue rose to $731.6 million from $535.2 million and was also above estimates. Annual recurring revenue was $2.93 billion, up 37%. The cybersecurity company raised its forecast for the fiscal year, and the stock rose 1.7%.

Arista Networks

(ANET) rose 1.8% to $190.50 after analysts at Citi upgraded the provider of data center networking hardware to buy from Neutral and raised its price target to $220 from $177.

Victoria’s Secret (VSCO) stock fell 5.5% in pre-market trading after reporting a surprise loss in the second quarter and forecasting fiscal year sales to be in the single-digit range compared to a year earlier.

Five Less Than Five stock fell 6% after the discount retailer revised its fiscal year guidance to “reflect the expected increase in deflationary reserves,” which is the industry’s term for merchandise theft and damage. The company said earnings for the fiscal year are expected to range from $5.27 to $5.55 per share. Five Below’s sales forecast remained unchanged.

Costco wholesale

(COST) said same-store sales rose 3.4% in August. The United States was the weakest retailer market, with same-store sales up just 2.8%. E-commerce sales fell by 2.5%. Shares rose 0.3%.

Write to Joe Woelfel at [email protected]