Abercrombie & Fitch reported earnings of $2.42 per share on an adjusted basis, with revenue increasing 5% to $1.27 billion, aided by tariff refunds and growth in its Abercrombie unit. This strong performance prompted the company to raise its full-year outlook, significantly boosting investor confidence.
In contrast, Intuit's stock fell 4% after it projected fiscal year 2027 revenue between $23.3 billion and $23.5 billion, below the $23.7 billion expected by analysts. This negative outlook impacted other software stocks, with ServiceNow and Workday both declining about 2%, and Salesforce down 1%.
Meanwhile, Meta Platforms saw a 3% increase in its stock following a settlement regarding claims of making its apps addictive to teenagers. Zoom Communications experienced a 7% drop after its third-quarter earnings forecast fell short of expectations, while Kohl's shares rose 2% after raising its full-year outlook, partly due to $150 million in tariff refunds. J.M.
Smucker's stock climbed 3% after reporting fiscal first-quarter revenue of $2.22 billion, exceeding expectations. SolarEdge Technologies gained nearly 8% following a UBS upgrade, and Semtech's shares rose over 8% after beating second-quarter earnings estimates.
Conversely, Boston Scientific's stock fell 5% due to a cybersecurity incident, and SAP's shares declined 3% after being downgraded by UBS due to slow AI delivery impacting monetization opportunities