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Stocks to Watch: Micron Technology, Five Below, Guess

By Ben Glickman


Micron Technology posted a surprise profit and gave a profit outlook that was ahead of analysts' expectations. The memory-chip maker also guided for revenue of $6.4 billion to $6.8 billion in the fiscal third quarter, more than analysts were expecting, representing an increase of 76% at the midpoint. Shares rose 17% to $112.15 after-hours.

Five Below said that shrink had accelerated since last year, causing the company's earnings in the fourth quarter to come in at the low end of its guidance. The company issued first-quarter guidance that disappointed Wall Street, as it hasn't included any improvement on retail theft in its outlook for the year. Shares fell 13% to $182.60 after-hours.

Guess reported top- and bottom-line results that beat analysts' expectations. The clothing brand and retailer forecast a double-digit increase in revenue in the next year, while Wall Street expects an increase in the low-single-digits. Shares rose 12% to $29 after-hours.


Write to Ben Glickman at

(END) Dow Jones Newswires

March 20, 2024 19:50 ET (23:50 GMT)

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