Check out the companies making headlines in afternoon trading. Ross Stores – The discount retailer posted a nearly 10% gain thanks to strong first-quarter results. Ross Stores posted earnings of $1.46 per share on revenue of $4.86 billion. That beat the $1.35 and $4.83 billion earnings per share expected by analysts polled by LSEG. Booz Allen Hamilton – Shares of the defense contractor rose 3.8% after a rise in quarterly revenue and profit. Booz Allen posted adjusted earnings of $1.33 per share in the fiscal fourth quarter, while analysts polled by FactSet expected $1.23 per share. Revenue came to $2.77 billion, slightly higher than analyst expectations of $2.72 billion. Coinbase – Shares of the crypto services company rose 5% after the U.S. Securities and Exchange Commission approved a rule change Thursday evening that opens the doors to ETFs that buy and hold ether, the second-largest cryptocurrency. Robinhood gained 3.9%. Lucid Group – The stock price fell almost 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 the TurboTax parent company fell about 8% after reporting weaker-than-expected fourth-quarter fiscal guidance. Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 per share. Toast – Shares of the financial technology company, which specializes in point-of-sale products for restaurants, rose almost 1%. On Thursday, Wedbush analyst Moshe Katri began covering Toast with an outperform rating. Katri said Toast could post annualized gross profit of more than 30% and adjusted EBITDA growth in 2024 and 2025, respectively. Workday – The enterprise management company fell 14% after second-quarter subscription revenue expectations came in slightly below analysts’ expectations. Workday forecast subscription revenue of $1.895 billion, compared to the consensus forecast of $1.9 billion per StreetAccount. Deckers Outdoor – Shares of the Uggs maker rose about 14% after the company beat Wall Street’s fourth-quarter revenue and profit expectations. Deckers reported earnings per share of $4.95 on revenue of $960 million, while analysts surveyed by LSEG called for earnings of $2.89 per share on revenue of $888 million. Guardant Health – Shares of the biotech company rose more than 10% after a Food and Drug Administration advisory committee recommended approval of a new blood test. The new Guardant test would help screen for colorectal cancer. – CNBC’s Jesse Pound, Tanaya Macheel, Alex Harring and Samantha Subin contributed reporting.
Stocks making the biggest moves in the afternoon: WDAY, LCID, TOST, DECK
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