Intuit's shares dropped 11% after the company provided disappointing revenue guidance for fiscal year 2027, projecting revenues between $23.279 billion and $23.512 billion, below the $23.7 billion expected by analysts.
Despite beating earnings and revenue estimates for its fiscal fourth quarter, the guidance led to a negative reaction in the software sector, with the iShares Expanded Tech-Software ETF (IGV) declining over 1%. Other software companies like ServiceNow, Workday, and Salesforce also experienced losses of more than 2%.
Zoom Communications saw a 7% drop in its stock after its third-quarter earnings per share guidance fell short of the $1.50 estimate, predicting a range of $1.46 to $1.48.
Kohl's shares fell 5% after reporting a 0.9% decline in comparable sales for the second quarter, slightly worse than the expected 0.6% drop, although it raised its full-year guidance due to $150 million in tariff refunds and announced a $100 million share buyback plan for 2026. In contrast, J.M.
Smucker's stock rose 5.6% after reporting fiscal first-quarter revenue of $2.22 billion, exceeding the $2.13 billion consensus. SolarEdge Technologies' shares jumped nearly 7% following a UBS upgrade to buy, citing potential gains from a new FCC policy. Semtech's stock increased over 5% after reporting better-than-expected earnings and revenue.
Box's shares rose more than 2% after its second-quarter revenue beat estimates, despite a slight cut to its full-year earnings forecast. Conversely, Boston Scientific's stock fell over 3% due to a cybersecurity incident that may disrupt product access, and SAP shares declined almost 4% after UBS downgraded the company, citing slow AI delivery limiting monetization opportunities