Several major players in the tech and retail sectors experienced significant stock movements following the release of their latest earnings reports. Grindr, a prominent gay dating app maker, saw its shares plummet by approximately 12%. Meanwhile, MongoDB and Marvell Technology also faced substantial declines, with their stocks dropping nearly 18% and 13%, respectively.
In the cloud security sphere, Zscaler reported robust financial results that led to a 4% increase in its share price. The company announced adjusted earnings of 78 cents per share on revenue of $648 million, surpassing analysts' expectations of 69 cents per share on revenue of $636 million, as surveyed by LSEG. Despite this strong quarterly performance, Zscaler reported a net loss of $131.0 million for the full year, a significant increase from the previous year's net loss of $55.8 million.
Victoria's Secret, the well-known lingerie retailer, faced a 5% decline in its stock value after announcing its first-quarter revenue forecast of $1.30 billion to $1.33 billion. This guidance fell short of analysts' expectations, who had anticipated revenue of $1.39 billion for the same period, according to LESG. Despite this shortfall in projections, Victoria's Secret outperformed in its fourth quarter, exceeding analysts' expectations with its earnings report.
MongoDB's stock took a hit as Wall Street expressed disappointment with its full fiscal year guidance ending January 2026. The database software maker forecasted adjusted earnings of $2.44 to $2.62 per share, which failed to meet investor expectations. This announcement led to an almost 18% drop in MongoDB's share price, reflecting the market's tepid response.
Marvell Technology reported adjusted earnings of 60 cents per share on revenue of $1.82 billion for its fiscal fourth quarter. These figures were slightly above the forecasts made by analysts polled by LSEG, who predicted earnings of 59 cents per share on revenue of $1.80 billion. Despite meeting and slightly exceeding expectations, Marvell's shares fell by about 13%, underscoring the cautious sentiment among investors.