A look at companies catching the eye in midday trading: Ross Stores — The discount retailer jumped nearly 10% after strong first-quarter results. Ross Stores reported earnings of $1.46 per share on revenue of $4.86 billion, beating the $1.35 per share earnings and $4.83 billion in revenue expected by analysts surveyed by LSEG. Booz Allen Hamilton — The defense contractor’s shares rose 3.8% after quarterly revenue and earnings beat expectations. Booz Allen reported fourth-quarter adjusted earnings of $1.33 per share, while analysts surveyed by FactSet were expecting $1.23 per share. Revenue was $2.77 billion, slightly beating analysts’ expectations of $2.72 billion. Coinbase — Shares of the cryptocurrency services company rose 5% after the U.S. Securities and Exchange Commission approved rule changes Thursday evening that open the door to exchange-traded funds that buy and hold Ethereum, the second-largest cryptocurrency by market capitalization. Robinhood rose 3.9%. Lucid Group — Shares fell nearly 3% after the electric vehicle maker announced plans to lay off about 400 employees, or 6% of its workforce, as part of a restructuring. Intuit — Shares of TurboTax’s parent company fell about 8% after the company issued a lower-than-expected fourth-quarter earnings outlook. Intuit now expects adjusted earnings of $1.80 to $1.85 per share, while analysts surveyed by FactSet had expected earnings of $1.92 per share. Toast — Shares of the financial technology company, which specializes in point-of-sale products for restaurants, rose nearly 1%. Wedbush analyst Moshe Khatri initiated coverage of Toast on Thursday with an outperform rating. Khatri said Toast could post year-over-year gross profit and adjusted EBITDA growth of more than 30% in 2024 and 2025, respectively. Workday — The corporate-controlled company fell 14% after its second-quarter subscription revenue guidance fell slightly short of analysts’ expectations. Workday forecast subscription revenue of $1.895 billion, compared with the consensus forecast of $1.9 billion, according to StreetAccount. Deckers Outdoor — The rug manufacturer’s shares rose about 14% as the company beat Wall Street’s fourth-quarter sales and profit expectations. Deckers posted earnings of $4.95 per share on revenue of $960 million, while analysts surveyed by LSEG had expected earnings of $2.89 per share on revenue of $888 million. Guardant Health — The biotech company’s shares rose more than 10% after a U.S. Food and Drug Administration advisory committee recommended approval of a new blood test. Guardant’s new test helps screen for colorectal cancer. — CNBC’s Jesse Pound, Tanaya Macheel, Alex Harring and Samantha Subin contributed reporting.
Biggest movers at midday: WDAY, LCID, TOST, DECK
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