Stocks making the biggest moves after hours: Intuit, Workday, Ross Stores, Deckers and more

Several companies moved significantly in extended trading: Ross Stores declined over 11% after withdrawing full-year guidance and projecting Q2 earnings below expectations, citing potential tariff pressures. Conversely, Autodesk rose over 2% on a higher-than-expected Q2 outlook, while Intuit gained approximately 8% after forecasting strong full-year adjusted earnings, surpassing previous guidance and analyst consensus. Other notable moves include Workday pulling back 6% despite exceeding Q1 estimates, StepStone Group surging 13% due to a substantial increase in assets under management, and Deckers Outdoor sliding 14% after declining to provide full-year guidance for fiscal 2026, citing macroeconomic uncertainty.

Analysis

Extended trading activity revealed significant divergences in corporate performance and outlook, heavily influencing share prices. Ross Stores experienced a substantial decline of over 11% after retracting its full-year guidance and projecting second-quarter earnings per share between $1.40 and $1.55, falling short of LSEG's $1.65 estimate, notably citing potential profitability pressures from sustained elevated tariffs. Conversely, the software sector displayed strength; AutoDesk shares rose over 2% on an optimistic second-quarter forecast, targeting adjusted earnings of $2.44 to $2.48 per share on revenues of $1.72 billion to $1.73 billion, surpassing LSEG consensus of $2.34 per share and $1.70 billion in revenue. Intuit shares surged approximately 8% following an upgraded full-year adjusted earnings forecast to $20.07-$20.12 per share, markedly above its previous $19.16-$19.36 guidance and the $19.40 FactSet consensus, with fiscal third-quarter results also exceeding expectations. Workday, however, saw its stock retreat by more than 6% despite surpassing first-quarter analyst estimates on both top and bottom lines, as its second-quarter subscription revenue forecast of $2.16 billion only matched the StreetAccount consensus, indicating a potential market expectation for a beat. StepStone Group was a notable outperformer, with its shares climbing 13% driven by a significant increase in assets under management, which reached $189.4 billion in the fiscal fourth quarter, up from $156.6 billion in the prior year. Deckers Outdoor shares fell 14%, not due to its fourth-quarter results which surpassed LSEG consensus, but because the company abstained from providing full-year guidance for fiscal 2026, citing 'macroeconomic uncertainty related to evolving global trade policies.'

Key Decisions for Investors

• Investors should critically assess exposure to off-price retailers like Ross Stores given the withdrawal of guidance and explicit tariff concerns, while noting the comparatively robust outlooks from software firms AutoDesk and Intuit.
• The negative market reaction to Workday's in-line guidance, despite a Q1 beat, suggests high investor expectations; monitor if future growth can meet these elevated targets or if a sentiment reset is likely.
• Deckers Outdoor's decision to withhold FY26 guidance due to macroeconomic and trade policy uncertainties introduces significant caution, potentially outweighing its strong Q4 performance, warranting a close watch on evolving global conditions.
• StepStone Group's substantial year-over-year AUM growth signals strong momentum and may present an attractive opportunity for investors seeking exposure to the private markets investment sector.