Stocks making the biggest moves midday: Sandisk, Tesla, Lululemon, Quanex, AMC & more
Check out the companies making the biggest moves midday: Guidewire Software — The platform for insurers plummeted 21% after revenue guidance for the current quarter fell short of expectations. Guidewire sees revenue ranging from $372 million to $378 million, versus the LSEG consensus estimate of $387 million. Full-year revenue guidance ranged from $1.71 billion to $1.73 billion, versus the $1.70 billion estimate. Tesla — The electric vehicle company dropped 6%. The National Highway Traffic Safety Administration announced an investigation into whether Tesla’s Cybercab is compliant with all federal safety standards. The announcement came after the company launched its robotaxis in Austin, Texas on Thursday. Sandisk , KLA — Both chip stocks traded sharply higher, as the semiconductor space rallied ahead of the long weekend. Sandisk was up more than 8% on the day, while KLA climbed 7%. The VanEck Semiconductor ETF (SMH) rose more than 2%, while the Roundhill Memory ETF (DRAM) popped 5%. Quanex Building Products — The manufacturer of window and door hardware surged 19% on the back of a rosy third-quarter earnings report. Quanex earned 79 cents per share on an adjusted basis and posted revenue of $501.8 million. This beat the FactSet consensus call for 66 cents per share and $497.5 million. Adjusted EBITDA also surpassed expectations. AMC Entertainment — The movie theater company gained 6.5% after CEO Adam Aron slammed Robinhood for its stock tokens for AMC and others, calling the practice “contemptible, outrageous, disgusting.” Shares of Robinhood slipped nearly 1%. Equifax , TransUnion , Fair Isaac — The credit monitoring companies slid in midday trading. Federal Housing Finance Agency Director Bill Pulte said on X late Thursday that Equifax, TransUnion and Experian have been “overcharging Americans for too long. This will end soon.” Fair Isaac shares struggled, dropping more than 15%. Equifax dropped 6.8%, while TransUnion fell more than 7%. Smith & Wesson — The firearms manufacturer reported a beat on the top and bottom lines, sending shares 6% higher. Smith & Wesson saw quarterly earnings of 6 cents per share, versus the 6 cent loss expected from analysts polled by FactSet. Revenue came in at $112.6 million, compared to the $98.7 million consensus estimate. Lululemon Athletica — Shares of the sportswear manufacturer tumbled 17% after the company posted a glum forecast for the current quarter. Lululemon called for earnings in a range of 93 cents to 98 cents per share on revenue of $2.29 billion to $2.32 billion. Analysts were looking for $2.40 per share and $2.53 billion. Zscaler — The cloud security company’s stock slipped 5% despite its earnings beat. Zscaler posted fourth-quarter adjusted earnings of $1.19 per share on revenue of $898 million, topping the LSEG consensus call for $1.09 per share on $877 million. Guidance for the current quarter also beat expectations. Adobe — The software company announced Anil Chakravarthy would be its next CEO . He succeeds Shantanu Narayen who said last March that he would step down from the role. Shares were last down 6%. Asana — Shares of the work management software platform tanked 14% after current quarter guidance failed to impress the Street. Asana sees third-quarter revenues in a range of $217 million to $219 million and adjusted earnings of 8 cents per share. Analysts polled by LSEG sought 9 cents per share in earnings and $218 million in revenue. Samsara — The software company with a focus on the Internet of Things advanced about 4%. Samsara sees full-year revenue ranging from $2.04 billion to $2.05 billion, topping the $2.01 billion LSEG consensus estimate. Guidance for adjusted earnings of 76 cents to 78 cents a share surpassed the expected 72 cents per share. UiPath — The software company lost 16%. UiPath sees current quarter adjusted operating income of roughly $100 million, versus the FactSet consensus call for $99.6 million. Revenue guidance for the period ranges from $440 million to $445 million, versus the estimated $441.5 million. Oxford Industries — The maker of Tommy Bahama and Lilly Pulitzer sank 17% after cutting its full-year guidance. The company now anticipates adjusted EPS for the year of $1.60 to $2 per share, down from its prior guidance of $2.30 to $2.70 a share. It expects revenue of $1.43 billion to $1.47 billion, versus its prior guidance of $1.475 billion to $1.505 billion. CNBC’s Fred Imbert, Ananya Chetia and Davis Giangiulio contributed reporting.
About the Author
