Guidewire, Lululemon lead midday stock moves with shares down 17% or more

  • Guidewire Software shares plunged after current-quarter revenue guidance missed consensus.
  • Lululemon, Oxford Industries and UiPath fell 17%, 17% and 16%, respectively.
  • Tesla faced a federal Cybercab safety investigation after launching Austin robotaxis Thursday.

Guidewire Software shares plunged 21% after its current-quarter revenue outlook came in below the LSEG consensus, despite a full-year forecast above expectations. Tesla fell 6% after NHTSA (U.S. auto-safety regulator) opened an investigation into whether its Cybercab meets federal safety standards following the launch of robotaxis in Austin, Texas, on Thursday. Semiconductor stocks rallied ahead of the long weekend, lifting Sandisk more than 8%, KLA 7%, the VanEck Semiconductor ETF more than 2% and the Roundhill Memory ETF 5%. Quanex Building Products surged 19% after beating FactSet expectations for adjusted earnings, revenue and adjusted EBITDA. AMC Entertainment gained 6.5% after CEO Adam Aron criticized Robinhood's stock tokens for AMC and other companies, while Robinhood slipped nearly 1%. Equifax, TransUnion and Fair Isaac fell after Federal Housing Finance Agency Director Bill Pulte said on X that the companies had been overcharging Americans and that this would end soon. Smith & Wesson rose 6% after exceeding consensus estimates for quarterly earnings and revenue. Lululemon Athletica dropped 17% after issuing a weaker current-quarter forecast, while Zscaler declined 5% despite an earnings beat and stronger guidance. Adobe fell 6% after naming Anil Chakravarthy as its next CEO, succeeding Shantanu Narayen. Asana tumbled 14% after its current-quarter outlook largely failed to meet analysts' expectations. Samsara advanced about 4% after raising full-year revenue and adjusted earnings guidance above consensus. UiPath lost 16% despite current-quarter adjusted operating-income and revenue forecasts broadly near expectations. Oxford Industries sank 17% after cutting its full-year adjusted EPS and revenue outlook.

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