Lululemon Athletica's stock fell 13% following a revision of its full-year earnings and revenue guidance, which it attributed to various headwinds. The company's current-quarter projections also fell short of analyst expectations, as reported by LSEG.
Docusign's shares decreased by 4% after its second-quarter revenue outlook of $865 million to $869 million was deemed unimpressive, aligning closely with the consensus estimate of $866 million. The semiconductor sector continued to experience pressure, with Broadcom's shares down 1% after a significant 12.5% drop the previous day.
Other chipmakers like Advanced Micro Devices and Intel also saw declines of nearly 3% and over 2.5%, respectively. Memory stocks were similarly affected, with Micron Technology and Lam Research both down 3%.
In contrast, Cooper Companies' shares rose nearly 5% after reporting second-quarter adjusted earnings of $1.21 per share, surpassing the consensus estimate of $1.10, alongside revenue of $1.08 billion, exceeding expectations as well. Guidewire Software's stock plummeted 14% despite beating earnings expectations, as its gross margin fell short of analyst targets.
Chipotle Mexican Grill's shares increased by 1.5% following an upgrade from JPMorgan, which cited strong same-store sales growth. Argan's stock surged 11% after reporting first-quarter earnings of $3.24 per share, significantly above the expected $2.31.
ServiceTitan's shares jumped 16% after the company raised its full-year guidance, projecting adjusted income from operations between $142 million and $147 million, exceeding prior forecasts. Meanwhile, cryptocurrency stocks declined as Bitcoin prices fell below $63,000, with companies like Coinbase and Robinhood down 1.5%