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Top premarket stock movers: Ross Stores, Intuit, Workday, Guardant Health, and others



Several companies are making headlines in premarket trading, with Intuit slipping nearly 6% after issuing weaker-than-expected fiscal fourth-quarter guidance. The TurboTax parent company forecasted adjusted earnings of $1.80 to $1.85 per share, falling short of analysts’ expectations of $1.92 per share. On the other hand, Ross Stores saw its stock rise more than 7% following an earnings beat, reporting $1.46 per share in earnings on $4.86 billion in revenue, surpassing analyst forecasts.

Workday, the enterprise management company, experienced a more significant setback, dropping over 11% after its subscription revenue guidance for the second quarter missed analysts’ estimates slightly. Workday projected subscription revenue of $1.895 billion, slightly lower than the consensus forecast of $1.9 billion, while cash from operations also fell short at $372 million compared to the expected $397.2 million. In contrast, Deckers, a shoe and apparel company, saw its shares rise 8% after reporting a significant fiscal fourth-quarter beat, with $4.95 in earnings per share on $960 million of revenue, surpassing analyst expectations.

Nvidia, the chipmaker, saw a 1% increase before the opening bell following reaching an all-time high the previous day and closing above the $1,000 level for the first time. Additionally, Guardant Health, a biotechnology company, experienced a more than 13% increase in shares after the U.S. Food and Drug Administration determined that the benefits of its colorectal cancer blood test, Shield, outweigh the risks. This positive news led to a surge in the company’s stock price.

Overall, the premarket trading activity for these companies has been mixed, with some experiencing drops due to weaker-than-expected earnings guidance, while others have seen gains following positive earnings reports and regulatory approvals. Investors will be closely monitoring these companies as they navigate the challenges and opportunities in the current market environment. Stay tuned for more updates on these companies and how their performance in the premarket trading session may impact their overall market performance.

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