See the companies making headlines in afternoon trading: Dollar Tree — Shares fell 20% after the discount retailer cut its full-year outlook for net sales and adjusted earnings per share. Dollar Tree cited increasing pressure on middle- and upper-income customers. GitLab — Shares of the software developer rose 17% on a strong third-quarter profit outlook. The company forecast earnings per share of 15 to 16 cents for the period, above the 11 cents that analysts polled by LSEG had estimated. GitLab's full-year sales outlook also came in above expectations. Zscaler — Shares fell 18% after the cloud security company's earnings outlook for its fiscal first quarter came in weaker than expected. Zscaler expects to earn between 62 and 63 cents per share, below the 73 cents per share that analysts had estimated, according to LSEG. The company also expects to earn between $2.81 and $2.87 per share for the full year. That's below analyst estimates of $3.33 per share. AST SpaceMobile — Shares rose more than 19% after the company said it plans to launch its first five commercial satellites, called BlueBird, on or after Sept. 12 from Cape Canaveral, Florida. AST SpaceMobile also said the satellites will be placed in low-Earth orbit and provide mobile broadband services to billions of people worldwide. Asana — Shares fell 8% on weaker-than-expected guidance for the third quarter and the full year. Asana expects third-quarter revenue to be between $180 million and $181 million, while analysts expected $182 million, according to LSEG. For the full year, the company expects between $719 million and $721 million in revenue, below the consensus estimate of $723 million. Dick's Sporting Goods — Shares of the sporting goods company fell more than 6% on the back of tepid full-year guidance. The retailer expects to earn between $13.55 and $13.90 per share. Meanwhile, analysts surveyed by FactSet estimated $13.80 in earnings per share. Hormel Foods — Shares fell more than 7% after the packaged food company reported weaker-than-expected sales for its fiscal third quarter and lowered its full-year forecast. Hormel posted $2.9 billion in sales for the period, below the $2.95 billion that analysts had expected, according to FactSet. Sweetgreen — Shares of the fast-casual chain rose 4% after TD Cowen upgraded it to buy from hold. Analyst Andrew Charles pointed to Sweetgreen's introduction of Infinite Kitchens, or its automated robotic kitchens, as a catalyst. ASML — Shares fell nearly 4% on the heels of a UBS downgrade to neutral from buy. The company expects earnings growth to fall to the mid-teens from 2026 onward, citing a “plateau in litho intensity” and normalizing demand. AMD — The chip stock rose 3%, recovering from losses seen in the previous session. On Tuesday, AMD shares were hurt by a steep selloff in semiconductors, falling 7.8%. — CNBC’s Lisa Kailai Han and Michelle Fox contributed reporting.
