Top Earnings| Semiconductor Company MRVL +16% on Estimate Beat; GPS & RL Improved Results

Let’s check the small-cap stock movers yesterday. $Marvell Technology(MRVL)$, $Gap(GPS)$ and $Ralph Lauren(RL)$ rose around 10% after they posted stellar earnings.

1. $Marvell Technology(MRVL)$ jumped 16.74% as it topped estimates for EPS and revenue

Marvell Technology jumped 16.74% after the semiconductor producer beat analysts’ expectations for its first quarter.

Marvell notched 31 cents in adjusted earnings per share on $1.32 billion in revenue, while analysts polled by Refinitiv estimated 29 cents per share and $1.3 billion in revenue.

The company also said revenue growth should accelerate in the second half of the fiscal year.

EPS: 31 cents vs. 29 cents

Revenue: $1.32 bln vs. $1.3 bln

2. $Gap(GPS)$ surged 15% as margins improved

Gap surged 15% in the postmarket following the retailer’s earnings report, which showed a major improvement in margins.

Revenue was largely in line with expectations, coming in at $3.28 billion, while analysts polled by Refinitiv anticipated $3.29 billion.

Adjusted EPS: 1 cent vs. -16 cents expected

Revenue: $3.28 bln vs. $3.29 bln expected

The company attributed the bump in margins to lower air freight expenses and a slowdown in discounting, which was partially offset by ongoing inflationary costs.

3. $Ralph Lauren(RL)$ +5.34% as it beat earnings estimates

Ralph Lauren, the luxury apparel retailer saw its shares jump 6% after the company beat earnings estimates and reported a surprise rise in revenue for its fiscal fourth quarter, according to Refinitiv.

Ralph Lauren came out with quarterly earnings of $0.90 per share, beating the consensus of $0.65 per share.

Rvenues are $1.54 billion for the quarter ended March 2023, surpassing the consensus by 4.85%

EPS: $0.90 vs. $0.65 expected

Revenue: $1.54 bln, surpassing the consensus by 4.85%

Ralph Lauren also said its sales in China jumped 30% as demand for luxury items rebounded amid the reopening.