Take a look at the companies making headlines in afternoon trading: Intel – The chipmaker rose about 9.5% on news that Intel is working with bankers to explore options to address weaknesses in its core businesses. Elastic NV – The stock fell about 26.5% after its fiscal second quarter revenue forecast missed Wall Street expectations. The artificial intelligence search company now expects revenue for the period to be between $353 million and $355 million. Analysts surveyed by LSEG had estimated it at $361 million. MongoDB – Shares of the developer data platform rose more than 18% after the company posted a profit and revenue decline in the second quarter. MongoDB earned 70 cents per share, excluding items, on revenue of $478 million, while analysts expected 49 cents per share on revenue of $464 million, according to LSEG. The company also expects third-quarter revenue to be between $493 million and $497 million, well above analyst estimates of $479 million. Profits for the current quarter are also expected to exceed expectations. Alnylam Pharmaceuticals – Shares fell about 8.5% after the company reported positive Phase 3 results for its heart disease drug vuprisiran, which is sold as Amvuttra. However, the results were disappointing for investors. In a note, Cantor Fitzgerald wrote that the data does not seem like an unequivocal “win” compared to treatments from competitors such as BridgeBio Pharma’s Acoramidis. Shares of BridgeBio rose more than 13% after the results. Marvell Technology – Shares rose more than 9% after its third-quarter forecast beat expectations. Marvell expects adjusted earnings of 40 cents per share on revenue of $1.45 billion. Analysts polled by LSEG expected earnings of 38 cents per share and revenue of $1.40 billion. Alibaba – The e-commerce company’s U.S.-traded shares rose nearly 3% after China’s market regulator said the company had completed a three-year oversight process. Alibaba was already fined by the regulator in 2021 as part of an antitrust investigation. Dell – Shares rose more than 4% after the company posted a second-quarter profit and revenue decline. Dell also expects current quarter revenue to be in line with expectations, StreetAccount said. Ulta Beauty – The beauty retailer’s shares fell about 4% after posting its first earnings loss in four years. Ulta also lowered its full-year guidance after a decline in same-store sales last quarter. Comparable sales for the second quarter fell 1.2%, compared with an 8% increase a year earlier and well below the 1.2% growth that Wall Street analysts had expected, according to StreetAccount. – CNBC’s Yun Li, Hakyung Kim and Jesse Pound contributed reporting.
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