The small-cap indices saw minimal gains with both the Russell 2000 and the S&P 600 rising less than a percent.
Cloud provider Coupa Software Inc (NASDAQ:COUP) beat Wall Street estimates on earnings and revenue in its first quarter, issuing guidance for the second quarter above consensus. The platform allows companies to manage spending and pinpoint opportunities to save money. Investor personality Jim Cramer grouped the small-cap stock in with the “cloud kings” like Adobe and Salesforce, referring to the small-cap as a “cloud prince.” Shares of the California-based company were up more than 7% to US$59.35.
Quanex Building Products Inc (NYSE:NX) shares surged after reporting strong growth in its second-quarter report. The window and door manufacturer reported adjusted earnings of US$0.14 per share on revenue of US$214.2mln, beating analyst estimates of US$0.13 per share. Its board declared a quarterly cash dividend of US$0.04 per share on its common stock. The Houston-based company also creates kitchen and bath fixtures and hardwood flooring. Shares of the company jumped more than 9% to US$18.10.
Ascena Retail Group Inc (NASDAQ:ASNA) shares sank after announcing disappointing fiscal third-quarter results. The company beat estimates on revenue but missed earnings estimates, giving a bleak outlook for next quarter. The retail group’s brand portfolio includes Dressbarn, Lane Bryant, Ann Taylor, Catherines and tween brand Justice. Shares of the New Jersey-based company fell more than 8% to US$3.36 in Tuesday Morning trading.
Retailer Francesca’s Holdings Corp (NASDAQ:FRAN) released disappointing first-quarter results and lower-than expected guidance, sending its shares falling. The company reported an earnings loss of US$0.12 per share on sales of US$100.4mln compared with consensus estimates of a loss of US$0.11 per share on sales on US$101mln. The company currently operates 744 Francesca’s location, which offer customers apparel and accessories in boutique-like setting. Shares of the Houston-based retailer fell more than 2% to US$5.93.