Midday movers: Sandisk, Tesla, Lululemon, Quanex, AMC & more

EarningsRegulation
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Summary · why it matters

In midday trading, several stocks made notable moves. Guidewire Software plummeted 21% after issuing weaker-than-expected current-quarter revenue guidance of $372 million to $378 million, below the LSEG consensus of $387 million. Tesla dropped 6% following a National Highway Traffic Safety Administration investigation into whether its Cybercab meets federal safety standards, after the company launched robotaxis in Austin. Sandisk and KLA rallied more than 8% and 7% respectively, as the semiconductor sector gained ahead of the long weekend, with the VanEck Semiconductor ETF (SMH) up over 2% and the Roundhill Memory ETF (DRAM) up 5%. Quanex Building Products surged 19% after beating third-quarter estimates with adjusted earnings of 79 cents per share on revenue of $501.8 million, versus the FactSet consensus of 66 cents and $497.5 million. AMC Entertainment rose 6.5% after CEO Adam Aron criticized Robinhood's stock tokens as "contemptible, outrageous, disgusting," while Robinhood slipped nearly 1%. Credit monitoring firms Equifax, TransUnion, and Fair Isaac fell after Federal Housing Finance Agency Director Bill Pulte said they have been "overcharging Americans for too long," with Fair Isaac down over 15%, Equifax down 6.8%, and TransUnion down over 7%. Smith & Wesson gained 6% on an earnings beat, reporting 6 cents per share versus an expected loss of 6 cents, on revenue of $112.6 million versus the $98.7 million consensus. Lululemon Athletica tumbled 17% after forecasting current-quarter earnings of 93 to 98 cents per share on revenue of $2.29 billion to $2.32 billion, below analyst expectations of $2.40 per share and $2.53 billion. Zscaler slipped 5% despite beating earnings estimates, while Adobe fell 6% after announcing Anil Chakravarthy as its next CEO. Asana dropped 14% on weak guidance, Samsara advanced 4% on strong full-year outlook, UiPath lost 16% despite in-line guidance, and Oxford Industries sank 17% after cutting its full-year guidance.

Impact on stocks 23

Cybersecurity & Digital Trust▼ · 4 stocks
TransUnion
TRU
▼ NegativeRegulationrelevance

FHFA Director Bill Pulte said credit monitoring firms have been overcharging Americans, sending TransUnion down over 7%.

Equifax Inc
EFX
▼ NegativeRegulationrelevance

Equifax fell 6.8% after FHFA Director Bill Pulte said credit monitoring firms have been overcharging Americans.

Zscaler Inc
ZS
± MixedCapitalrelevance

Zscaler slipped 5% despite beating earnings estimates, with no clear stated cause for the decline.

Artificial Intelligence▼ · 4 stocks
Adobe Systems Incorporated
ADBE
▼ NegativeCapitalrelevance

Adobe fell 6% after announcing Anil Chakravarthy as its next CEO, a leadership change that weighed on shares.

Fair Isaac Corporation
FICO
▼ NegativeRegulationrelevance

Fair Isaac dropped over 15% after FHFA Director Bill Pulte said credit monitoring firms have been overcharging Americans.

Consumer Discretionary± Mixed · 3 stocks
Lululemon Athletica Inc.
LULU
▼ NegativeCapitalrelevance

Lululemon tumbled 17% after forecasting current-quarter earnings and revenue below analyst expectations.

Smith & Wesson Brands Inc
SWBI
▲ PositiveCapitalrelevance

Smith & Wesson gained 6% on an earnings beat, reporting 6 cents per share versus an expected loss of 6 cents.

Semiconductors▲ · 2 stocks
KLA Corporation
KLAC
▲ PositiveDemandrelevance

KLA rallied over 7% as the semiconductor sector gained ahead of the long weekend.

Sandisk Corp
SNDK
▲ PositiveDemandrelevance

Sandisk rallied over 8% as the semiconductor sector gained ahead of the long weekend.

Critical Materials & Supply Chain▲ · 2 stocks
Industrials▲ · 1 stocks
Electrification & Mobility▼ · 1 stocks
Tesla Inc
TSLA
▼ NegativeRegulationrelevance

NHTSA opened an investigation into whether Tesla's Cybercab meets federal safety standards.

Cloud & Digital Infrastructure▼ · 1 stocks
Guidewire Software Inc
GWRE
▼ NegativeCapitalrelevance

Guidewire plummeted 21% after issuing weaker-than-expected current-quarter revenue guidance below consensus.

Communication Services▲ · 1 stocks
Digital Finance & Tokenization▼ · 1 stocks
Robinhood Markets Inc
HOOD
▼ NegativeCompetitionrelevance

AMC CEO criticized Robinhood's stock tokens, and Robinhood shares slipped nearly 1%.

Smart City / Autonomous Infrastructure▲ · 1 stocks
Space Economy▲ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks
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