Top Movers

Deckers, Ross Soar on Earnings; Intuit, Workday Plunge

After-Market

By Bill Bullington

5/23, 17:20 EDT
Deckers Outdoor Corporation
Exact Sciences Corporation
Intuit Inc.
Ross Stores, Inc.
Workday, Inc.
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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.