Biggest stock movers today: BBY, KSS, CRM, PATH, and more (NYSE:AI)

Stock futures were trading lower on Thursday following a disappointing outlook from Salesforce (NYSE:CRM).

Here are some of Thursday’s biggest stock movers:

Biggest stock gainers

• Shares of Pure Storage (NYSE:PSTG) surged 10% following better than expected Q1 results with revenue growth of 18% on the back of subscription revenue growth of 23% Y/Y. The company also expects Q2 revenue of $755M, above the consensus of $751.68M. However, Pure Storage expects FY25 revenue of $3.1B, slightly below the consensus of $3.13B.
• C3.AI (NYSE:AI) shares jumped 9% after reporting upbeat results and outlook. The enterprise software reported FQ4 revenue growth of ~20% Y/Y, led by subscription revenue growth of 40.4%. It expects FQ1 sales to be between $84M and $89M, with the midpoint above the $85.9M estimate, and expects FY2025 revenue between $370M and $395M, above the consensus of $367.7M.
• Best Buy (NYSE:BBY) shares rose over 7% even though the company reported mixed Q1 results with a downbeat forecast. CEO Corie Barry said that through strong execution, Best Buy (BBY) continued to manage its profitability while at the same time preparing for future growth. The domestic gross profit rate improved 80 basis points to 23.4%, and the adjusted operating margin rate rose to 3.8% vs. 3.4% a year ago. Best Buy (BBY) sees FY25 revenue of $41.3B to $42.6B vs. $42.2B consensus and EPS of $5.75 to $6.20 vs. $6.14 consensus. Comparable sales growth is seen landing in a range of -3% to 0%.
• Shares of Foot Locker (NYSE:FL) climbed nearly 14% after topping the consensus mark in both Q1 results and outlook. For FY24, Foot Locker (FL) expects adjusted EPS in the range of $1.50 to $1.70, a midpoint above the consensus estimate of $1.52.

Biggest stock losers

• Salesforce’s (CRM) stock plunged more than 15% after the enterprise software giant fell short on revenue expectations in Q1 as well as Q2 and the FY2025 outlook. It sees Q2 sales between $9.2B and $9.25B, below the $9.35B estimate, and for FY2025 between $37.7B and $38B, below the consensus of $38.05B.
• Despite upbeat Q1 results, UiPath (NYSE:PATH) shares plummeted about 29%, overshadowed by the announcement of CEO Rob Enslin’s resignation, effective June 1. The company re-appointed Daniel Dines, founder and former CEO of UiPath, as a successor. Additionally, the software company’s Q2 revenue outlook in the range of $300M to $305M fell short of the consensus of $342.07M and annual revenue in the range of $1.405B to $1.410B, vs. $1.56B consensus.
• Kohl’s (NYSE:KSS) shares slipped more than 25% after reporting a net loss of $27M in Q1 and slashing its FY2024 outlook. The company now expects net sales to decline by 2 to 4% as compared to the prior view of a decrease of 1% to an increase of 1%. Comparable sales are expected to decline by 1% to 3% compared to the prior view of growing by 0% to 2%. Diluted EPS for the year to fall within the range of $1.25 to $1.85, slashed from the prior expectation of $2.10 to $2.70.