Stocks making the biggest moves midday: Workday, Lucid, Toast, Deckers and more
Check out the companies making headlines in midday trading: Ross Stores — The discount retailer popped nearly 10% on strong first-quarter results. Ross Stores posted earnings of $1.46 per share on $4.86 billion in revenue. That topped the earnings per share of $1.35 and $4.83 billion in revenue expected by analysts polled by LSEG. Booz Allen Hamilton — The defense contractor’s shares added 3.8% on the heels of a quarterly revenue and earnings beat. Booz Allen posted adjusted earnings of $1.33 per share in its fiscal fourth quarter, while analysts surveyed by FactSet expected $1.23 per share. Revenue came out at $2.77 billion, slightly higher than analysts’ forecast of $2.72 billion. Coinbase — Shares of the crypto services firm jumped 5% after the U.S. Securities and Exchange Commission approved a rule change Thursday evening that opens the doors to exchange-traded funds that buy and hold ether, the second-largest cryptocurrency. Robinhood gained 3.9%. Lucid Group — The stock dipped almost 3% after the electric vehicle maker announced plans to lay off about 400 employees, or 6% of its workforce, as part of a restructuring effort. Intuit — Shares of the TurboTax parent company fell about 8% after it reported weaker-than-expected fiscal fourth-quarter guidance . Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 in earnings per share. Toast — Shares of the financial tech company, which specializes in point-of-sale products for restaurants, gained nearly 1%. On Thursday, Wedbush analyst Moshe Katri initiated coverage of Toast with an outperform rating. Katri said Toast could post more than 30% year-over-year gross profit and adjusted EBITDA growth in 2024 and 2025, respectively. Workday — The enterprise management company slipped 14% after its second-quarter subscription revenue guidance came out slightly below analysts’ estimates. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, per StreetAccount. Deckers Outdoor — The Uggs maker’s stock advanced about 14% after the company surpassed Wall Street’s fiscal fourth-quarter expectations for sales and profit. Deckers posted $4.95 in earnings per share on $960 million of revenue, while analysts polled by LSEG called for earnings of $2.89 per share on $888 million of revenue. Guardant Health — Shares of the biotech company rose more than 10% after an advisory committee for the U.S. Food and Drug Administration recommended approval of a new blood test. The new Guardant test would help screen for colorectal cancer. — CNBC’s Jesse Pound, Tanaya Macheel, Alex Harring and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
