Market ReportMarket Movers

LATE MOVERS: Ross Stores declines after giving disappointing first-quarter outlook

Also making noise Tuesday were Target, Ctrip, Kohl's and Salesforce

A Ross store
The discounter cited underperformance in women's apparel

Ross Stores Inc (NASDAQ:ROST) dropped after delivering disappointing first-quarter guidance. The company said earnings per share is projected to be $1.05 to $1.11 for the 13 weeks ending May 4, citing recent underperformance in women’s apparel. The average forecast of analysts was $1.18.

Shares of Ross Stores dropped 3.3%to $91.07 in Tuesday’s after-hours trading.

Salesforce.com Inc (NYSE:CRM) saw its share price recover some ground taking a big after-hours hit Monday. The tech company's stock fell as much as 4% after it announced disappointing first-quarter guidance, according to a report from CNBC. Salesforce estimated revenue to be between $3.67 billion and $3.68 billion, missing expectations of $3.7 billion.

Despite making some headway early, shares of Salesforce fell 0.9% to close at $157.01. 

Target Corp (NYSE:TGT) forecast 2019 profit higher than Wall Street estimates thanks to strong holiday sales in the fourth quarter. The retail giant increased its delivery offerings and saw robust online sales and foot traffic, per a report from Reuters.

The stock hit a bullseye, rising 4.6% to $76.01.

Ctrip.com International Ltd (NASDAQ:CTRP) is doing well after reporting better-than-expected fourth-quarter revenue. The China-based travel company posted earnings of $0.13 per share despite projected losses of $0.03, the company said.

The stock was recently up 19.8% to $41.91.

Kohl’s Corporation (NYSE:KSS) rebounded decisively Tuesday after lackluster after-hours trading the day before. The retailer said late Monday that it earned an adjusted $2.24 per share in the fourth quarter, beating estimates of $2.18, according to CNBC, and revenue came in ahead of Wall Street projections.

Shares of the retail chain jumped 7.3% to $71.34.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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