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After-Hours Market: Nortech Systems, Ulta Beauty, HP, Workday Gains

(RTTNews) – Nortech Systems Incorporated (NSYS) – Shares of the electromedical devices company surged over 50% on Thursday after the bell. Nortech Systems said it completed the sale and leaseback transactions for its manufacturing facilities in Bemidji and Mankato, Minnesota at a sale price of $6.3 million. The company plans to use the proceeds to pay down debt and related expenses and taxes. Nortech also entered into long-term lease agreements for the facilities for an initial 15-year term, with multiple renewal options.

Ulta Beauty, Inc. (ULTA) – Shares of the beauty store chain jumped nearly 15% on Thursday extended hours after the company’s second-quarter earnings trumped Wall Street expectations. Ulta reported profit of $8.1 million or $0.14 per share, down from $161 million or $2.76 per share last year. Adjusted earnings were $0.73 per share, compared to $2.72 per share. Sales slipped 26% to $1.23 billion from $1.67 billion. Analysts polled by Thomson Reuters expected adjusted profit of $0.06 per share on sales of $1.24 billion. Ulta said its same-store sales fell nearly 27%, but e-commerce sales increased more than 200%.

HP Inc. (HPQ) – Shares of the PC maker gained over 3% on Thursday after-hours after the company’s earnings and revenues for the third quarter trounced Wall Street estimates, reflecting strong demand for personal-computers during the COVID-19 lockdown period. The PC giant detailed a fourth-quarter outlook that is expected to beat current expectations. HP’s third-quarter profit was $734 million or $0.52 per share, compared with net income of $1.2 billion or $0.79 per share last year. Adjusted earnings were $0.49 per share, compared with $0.58 per share. Revenue declined 2.1% to $14.3 billion from $14.6 billion a year ago. Analysts expected earnings of $0.43 per share and revenues of $13.3 billion. Personal Systems net revenue was up 7% year over year with total units up 11%. Demand for personal systems during the pandemic increased sharply as people started to work from home and attend classes online.

Workday Inc (WDAY) – Shares of the company jumped over 12% in after-hours trading Thursday after its second-quarter earnings and revenues trumped Wall Street estimates. Workday also announced Chano Fernandez has been promoted to co-CEO, joining Co-Founder Aneel Bhusri in overseeing the company. Workday reported a second-quarter loss of $28 million or $0.12 per share, narrower than $120.7 million or $0.53 per share last year. Adjusting earnings were $0.84 per share, up from $0.44 per share last year. Analysts expected adjusted profit of $0.66 per share on sales of $1.04 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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