Keysight Technologies, a leading technology company based in Santa Rosa, California, has released a soft current-quarter outlook. The company attributes this slowdown to a decrease in its Electronic Industrial Solutions Group and challenges in the Asian market, particularly in semiconductors and other manufacturing sectors.
Although Keysight Technologies reported relatively flat sales for the fiscal third quarter ending on July 31, the company’s profit has declined. However, it is worth noting that the adjusted earnings for the quarter have surpassed analysts’ expectations. Despite this positive news, the company’s shares experienced a significant decrease of almost 9% in after-hours trading, settling at $136.80.
Ross Stores Achieves Higher Results in Second Quarter
Ross Stores, a popular off-price apparel and home-accessories retailer, has reported improved results for the second quarter. The company’s success can be attributed to a combination of easing inflation and increased shopping activity. Ross Stores witnessed a 5% increase in comparable-store sales, prompting the company to raise its full-year same-store-sales outlook.
While these positive developments are promising, Chief Executive Barbara Rentler has expressed caution regarding the impact of inflation on discount shoppers. Shares of Ross Stores rose by 5% to $118.62 following the release of their second-quarter results.
Bill Holdings Provides Subdued Revenue Forecast for Fiscal 2024
Bill Holdings, a provider of financial automation software, has forecasted lower-than-expected revenue for fiscal 2024. The company anticipates revenue ranging from $1.29 billion to just under $1.31 billion. Chief Financial Officer John Rettig mentioned during a conference call with analysts that payment volume is expected to remain somewhat muted in fiscal 2024 due to higher interest rates, stricter credit conditions, and other determining factors.
As a result of this cautious forecast, shares of Bill Holdings experienced a 4% decline, settling at $97.60.