Check out the companies making headlines in midday trading: Ross Stores – The discount retailer jumped nearly 10% on strong first-quarter results. Ross Stores reported earnings of $1.46 per share on revenue of $4.86 billion. That exceeded the $1.35 earnings per share and $4.83 billion in revenue that analysts surveyed by LSEG had expected. Booz Allen Hamilton – Shares of the defense contractor added 3.8% on the heels of higher quarterly revenue and profits. Booz Allen reported adjusted earnings of $1.33 per share in its fiscal fourth quarter, while analysts surveyed by FactSet expected $1.23 per share. Revenue was $2.77 billion, slightly higher than analysts' expectations of $2.72 billion. Coinbase — Shares of the crypto services company jumped 5% after the U.S. Securities and Exchange Commission approved a rule change Thursday evening, opening the doors to exchange-traded funds that buy and hold ether, the second-largest cryptocurrency. Robinhood gained 3.9%. Lucid Group – The stock fell nearly 3% after the electric automaker announced plans to lay off about 400 employees, or 6% of its workforce, as part of restructuring efforts. Intuit – Shares of TurboTax parent company fell about 8% after it reported weaker-than-expected financial guidance for the fourth quarter. Intuit expected adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 in earnings per share. Toast – Shares of the fintech company, which specializes in point-of-sale products for restaurants, rose nearly 1%. On Thursday, Wedbush analyst Moshe Katri initiated coverage of Toast with an outperform rating. Catri said Toast could achieve more than 30% year-over-year gross profit and EBITDA growth in 2024 and 2025, respectively. Business Day – The project management company fell 14% after its second-quarter subscription revenue guidance came in slightly below analyst estimates. Workday expected subscription revenue to reach $1.895 billion, while the consensus forecast was $1.9 billion, per StreetAccount. Deckers Outdoor – The Uggs maker's stock advanced about 14% after the company beat Wall Street's fiscal expectations for fourth-quarter sales and profits. Deckers reported earnings of $4.95 per share on revenue of $960 million, while analysts surveyed by LSEG called for earnings of $2.89 per share on revenue of $888 million. Guardant Health – Shares of the biotech company rose more than 10% after an FDA advisory panel recommended approval of a new blood test. A new Guardant test could help detect colorectal cancer. — CNBC's Jesse Pound, Tanaya Machel, Alex Haring and Samantha Sobin contributed reporting.
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Stocks making the biggest moves at midday: WDAY, LCID, TOST, DECK
