Top Movers
Deckers, Ross Soar on Earnings; Intuit, Workday Plunge
Key Takeaway
- Deckers Outdoor (DECK) and Ross Stores (ROST) surged 7.4% and 7.5%, respectively, driven by strong sales and raised earnings forecasts.
- Intuit (INTU) fell 7.5% and Workday (WDAY) dropped 10% after issuing weaker-than-expected earnings guidance, highlighting investor sensitivity to forecast revisions.
After-market Top Moves
As the trading day concluded, the S&P 500 Index fell by 0.7% to close at 5,267.84, with nearly 90% of its constituents in the red. However, Nvidia stood out as a notable outperformer. The after-hours session saw significant movements driven by earnings reports and forecasts.
- S&P 500 Index: Down 0.7%, indicating broad-based selling pressure.
- Nvidia: Outperformed despite the broader market decline.
Highlights by Sector
Consumer Discretionary
Deckers Outdoor (DECK) shares surged 7.4% after the company reported stronger-than-expected fourth-quarter sales, driven by its popular Hoka and Ugg brands. Ross Stores (ROST) also saw a significant boost, with shares climbing 7.5% after the off-price retailer raised its earnings per share forecast for the year.
Technology
Intuit (INTU) experienced a sharp decline of 7.5% after issuing a weaker-than-expected forecast for adjusted fourth-quarter earnings. Workday (WDAY) also faced a substantial drop of 10% following a cut in its full-year subscription revenue forecast.
Healthcare
Exact Sciences (EXAS) slid 4.3% after its competitor, Guardant Health, received support from an FDA advisory panel for its Shield blood test to screen for colorectal cancer.
Notable Gains and Losses
- Deckers Outdoor (DECK): +7.4%, driven by strong sales from Hoka and Ugg brands.
- Ross Stores (ROST): +7.5%, following an upward revision of its earnings per share forecast.
- Intuit (INTU): -7.5%, due to a disappointing earnings forecast.
- Workday (WDAY): -10%, after cutting its full-year subscription revenue forecast.
- Exact Sciences (EXAS): -4.3%, impacted by positive news for a competitor's product.
Key Movers & Takeaway
The after-hours session was dominated by earnings reports and forecasts, which led to significant price movements. Deckers Outdoor and Ross Stores benefited from strong sales and optimistic forecasts, respectively. In contrast, Intuit and Workday faced investor disappointment due to weaker-than-expected earnings guidance. Exact Sciences was negatively impacted by a competitor's success.
Key Movers Table by Market Cap
LargeCap Movers (>$20B)
| Stock | Ticker | Price Change | Key Takeaway |
|---|---|---|---|
| Intuit | INTU | -7.5% | Weaker-than-expected earnings forecast |
| Workday | WDAY | -10% | Cut in full-year subscription revenue forecast |
Mid-Cap Movers ($5B-$20B)
| Stock | Ticker | Price Change | Key Takeaway |
|---|---|---|---|
| Deckers Outdoor | DECK | +7.4% | Strong sales from Hoka and Ugg brands |
| Ross Stores | ROST | +7.5% | Raised earnings per share forecast |
| Exact Sciences | EXAS | -4.3% | Competitor's product received FDA advisory panel support |
Top Overbought/Oversold by 14-Day RSI
Overbought Stocks
| Stock | Ticker | RSI |
|---|---|---|
| Faraday Future Intelligent Electric | FFIE | 97.9 |
| Defiance Silver | DNCVF | 89.2 |
| Novavax | NVAX | 88.9 |
| Bristow Group | VTOL | 88.6 |
| Ardmore Shipping | ASC | 88.4 |
Oversold Stocks
| Stock | Ticker | RSI |
|---|---|---|
| Seritage Growth Properties | SRG | 9.2 |
| Dlocal | DLO | 15.0 |
| Evolent | EVH | 17.3 |
| Cerence | CRNC | 17.9 |
| Papa John’s | PZZA | 17.9 |
The after-hours trading session highlighted the impact of earnings reports and forecasts on stock prices. Companies that exceeded expectations, like Deckers Outdoor and Ross Stores, saw significant gains, while those that disappointed, such as Intuit and Workday, faced sharp declines. Investors should keep an eye on these developments as they could set the tone for the next trading day.
