Top after-hours movers: Bed Bath & Beyond, Applied Materials, Weber and more

$Applied Materials(AMAT.US)$ : The semiconductor equipment maker issued bullish guidance despite supply-chain challenges, sending shares higher in after hours. AMAT forecasted fourth-quarter revenue of $6.65 billion, above the Street’s estimates. In the earnings release, CEO and President Gary Dickerson noted “We feel confident in our ability to navigate macroeconomic headwinds and remain very positive about the long-term strength of the semiconductor market and our outsized growth opportunities.” Dickerson also highlighted that “ongoing supply chain challenges constrained our ability to meet demand” during the quarter and the company’s “top priority remains increasing shipments to our customers.”

Bed Bath & Beyond (BBBY): GameStop (GME) Chairman Ryan Cohen completed the planned sale of his entire stake in the company, a filing with the SEC revealed. Cohen’s RC Ventures held an 11.8% position, or 9.4 million shares of stock and options, in the struggling retailer. Shares dropped more than 30% in after hours trading following the news. As of Thursday’s close, Bed Bath & Beyond shares have soared more than 200% in August.

$Ross Acquisition Corp II(ROSS.US)$ : Ross Stores cut its full-year guidance and posted a larger than expected decline in comp sales for the second quarter. Sales totaled $4.6 billion for the quarter, down from $4.8 billion a year ago as inflationary pressures and increased promotional activity weighed on results. Ross Stores CEO Barbara Rentler commented “We are facing a very difficult and uncertain macro-economic environment that we expect will continue to strain our customers’ discretionary spending.

$BILL Holdings(BILL.US)$ : Shares jumped 19% in after hours, driven by solid fourth-quarter revenue and robust guidance. Sales for the most recent quarter totaled $200.2 million, an increase of 156% from a year ago. Subscription fees jumped 77% year-over-year while transaction fees soared 201%. 2023 total revenue guidance of $955.5 million to $973.5 million topped the Street’s estimate of $892.6 million.

$Weber(WEBR.US)$ : Shares fell in after-hours trading after posting its biggest one-day gain on record in Thursday trading. Weber is a top trending ticker on Yahoo Finance and among the most mentioned stocks on WallStreetBets in the past 24 hours.