Stock Movers: Palantir, Advance Auto, Urban Outfitters Soar on Earnings; Intuit Raises Guidance

Key Earnings and Guidance Updates

• 💡 Intuit reported strong third-quarter results, beating EPS estimates and raising its full-year guidance for revenue and operating income, largely due to its tax software business.
• 🎯 Ross Stores announced first-quarter EPS and sales that were slightly better than expected, with the CEO noting improved monthly sales performance after a slow start to spring.
• ⚠️ However, Ross Stores later withdrew its annual sales and earnings guidance due to uncertainty surrounding tariffs, causing its stock to fall.
• 🚀 Autodesk reported adjusted EPS and revenue beats, and provided a positive full-year 2026 forecast for billings and adjusted EPS, leading to a stock increase.
• 📈 Workday also beat first-quarter adjusted earnings estimates and raised its full-year adjusted operating margin outlook, though its stock saw some volatility.

Notable Stock Performances

• ⚡ Palantir shares rose significantly, boosted by news of an increased contract ceiling for its Maven smart system software with the US Department of Defense, highlighting deepening ties with the defense sector.
• 💰 Advance Auto Parts shares soared after reporting first-quarter comparable sales that fell less than anticipated, and reaffirmed its annual guidance.
• ✨ Urban Outfitters saw its stock climb sharply after reporting first-quarter net sales that surpassed analyst estimates, with particular strength noted in its namesake UOO brand.
• 📉 Deckers, the parent company of Uggs, withdrew its full-year 2026 guidance due to macroeconomic uncertainty and evolving global trade policy, causing its stock to drop.
• 📊 William Sonoma shares fell despite a first-quarter beat, as Wall Street questioned its reaffirmed full-year revenue guidance.

Sector-Specific Declines

• ☀️ The Invesco Solar ETF experienced a significant decline, with major holdings like Sunrun, SolarEdge Technologies, and Phase Energy falling sharply due to a new US House Republican tax and spending bill that accelerates the end of clean energy production incentives.
• ⚽ Manchester United shares dropped following a poor performance in a recent match.