Several companies made headlines after the bell with their earnings reports. Cava Group, a fast-casual restaurant brand, saw shares climb nearly 6% in after-hours trading after reporting better-than-expected earnings. Uber’s shares fell about 3% following an announcement of a partnership with General Motors’ Cruise to offer driverless rides to users as soon as next year. Ross Stores, an off-price retailer, saw its stock surge about 6% after reporting earnings per share of $1.59 in the second quarter, which exceeded analysts’ expectations.
Workday, a cloud company, saw its shares jump more than 11% after its earnings and revenue exceeded expectations. The company reported that subscription revenue for the third quarter will be $1.96 billion, slightly below analysts’ expectations. Bill Holdings, a cloud-based payments company, saw its shares rise more than 3% after reporting stronger-than-expected earnings and revenue in the fiscal fourth quarter. Intuit, a financial technology platform, saw its shares climb about 3% after reporting strong earnings of $1.99 per share and revenue of $3.18 billion, both above analysts’ expectations.
These companies’ strong earnings reports drove their stock prices higher in after-hours trading. Cava Group, Uber, Ross Stores, Workday, Bill Holdings, and Intuit all exceeded analysts’ expectations for earnings and revenue, leading to positive reactions from investors. The partnership between Uber and General Motors’ Cruise to offer driverless rides was met with a slight decrease in Uber’s stock price, while GM shares rose more than 1% after the announcement.
Overall, the companies making headlines after the bell showed strong performance in their respective earnings reports, exceeding analysts’ expectations. Investors reacted positively to the news, driving stock prices higher in after-hours trading. The strong results from Cava Group, Ross Stores, Workday, Bill Holdings, and Intuit demonstrate the resilience and growth potential of these companies in the current market environment. The partnership between Uber and General Motors’ Cruise highlights the continued innovation and collaboration within the autonomous vehicle industry, despite some initial negative reactions from investors.
