Stocks making the biggest moves midday: Meta, Abercrombie & Fitch, Zoom, Intuit & more

Midday movers are mixed: Abercrombie & Fitch surged 37% after a fiscal Q2 adjusted EPS of $2.42 beat estimates and it raised full-year guidance, while Intuit fell 4% on fiscal 2027 guidance revenue of $23.3B–$23.5B versus $23.7B expected. Zoom dropped 7% after Q3 EPS outlook of $1.46–$1.48 missed $1.50 estimates, and Boston Scientific slid 5% after warning a cybersecurity incident could disrupt products with an unknown restoration timeline. On the positive side, SolarEdge jumped nearly 8% on a UBS “buy” upgrade tied to an FCC policy shift, and Semtech gained over 8% after a Q2 earnings beat; tariff refunds also supported results for Abercrombie and Kohl’s (up 2%).

Analysis

The market is rewarding names where the earnings upside is either cash-efficient or de-risking, but it is likely overcapitalizing one-off margin help. In apparel/discount retail, tariff refunds improve near-term free cash flow and buyback capacity, yet they do not fix traffic or pricing power; that makes the post-gap valuation vulnerable once the refund cadence laps. By contrast, META’s legal settlement removes a tail-risk overhang that had been suppressing multiple expansion, so the benefit is more durable because it lowers expected litigation/regulatory discount rates rather than lifting current fundamentals.

The more important signal is in software: a FY27 revenue guide miss from a premium compounder is a warning that the market may be too early in pricing an AI-driven reacceleration across NOW/WDAY/CRM/SAP. This is usually how multiple compression starts: not with a demand collapse, but with a few quarters of “good enough” growth that fail to justify duration premium. BSX is the opposite setup — cyber disruption can create a temporary revenue deferral, but the real damage is share loss to peers with uninterrupted product access and surgeon loyalty.

Second-order winners are the hardware and niche infrastructure names with idiosyncratic upside, not the broad software cohort. If SEDG’s policy tailwind improves channel pricing, the first-order effect is gross margin leverage; the second-order effect is weaker discounting pressure on adjacent inverter players. SMTC’s beat suggests demand is still intact in parts of the semi supply chain, but one quarter does not validate a cycle turn. Near term, this is a dispersion trade, not a broad risk-on signal.

Key Decisions for Investors

• Fade ANF/KSS strength over the next 4-8 weeks; treat tariff refunds as nonrecurring and look to short on follow-through if gross margin reverts or comps slow.
• Short INTU on rallies or buy put spreads into the next 1-2 months; the setup is multiple compression if FY27 growth stays below consensus and the premium software cohort re-rates lower.
• Pair trade: long MDT or EW vs short BSX for 1-3 months; cyber disruption can defer procedures and shift share to competitors before the operational fix is visible.
• Buy SEDG via call spread or on pullbacks for a 1-3 month trade if channel checks confirm pricing power; stop if margin improvement fails to show in the next print.