Midday Stock Movements: Abercrombie & Fitch Jumps 37%, Meta Gains on Legal Settlement, Zoom Slides on Forecast

Abercrombie & Fitch surged 37% after posting fiscal second‑quarter results that comfortably beat analysts’ expectations. The teen‑apparel retailer earned $2.42 per share on an adjusted basis and generated $1.27 billion in revenue, a 5% increase. Tariff refunds and stronger growth at its core Abercrombie brand were cited as key drivers.

Intuit fell 4% after tempering its outlook for fiscal year 2027. The financial‑technology platform now expects revenue of $23.3 billion to $23.5 billion, below the $23.7 billion consensus. Despite the guidance downgrade, Intuit’s fiscal fourth‑quarter earnings and revenue beat estimates. The weaker forecast pressured other software names.

Software stocks tracked Intuit’s lead, with ServiceNow and Workday each losing about 2%, while Salesforce slipped 1%.

Meta Platforms jumped 3% after reaching a settlement with state attorneys general over allegations that the company designed its apps to be addictive for teenagers. The agreement came as a California trial on the matter was about to begin.

Zoom Communications dropped 7% after lowering its third‑quarter earnings guidance. Zoom now forecasts adjusted earnings of $1.46‑$1.48 per share, short of the $1.50 FactSet consensus. The revised outlook drove the share decline.

Kohl’s rose 2% after boosting its full‑year outlook, aided by $150 million in tariff refunds received during the second quarter. The retailer also announced a resumption of share buybacks totaling up to $100 million in 2026.

J.M. Smucker climbed 3% following fiscal first‑quarter results that topped expectations. Revenue reached $2.22 billion, exceeding the $2.13 billion consensus, and adjusted earnings were $3.24 per share (though comparability to prior estimates was unclear).

SolarEdge Technologies jumped nearly 8% after UBS upgraded the stock to “buy.” Analysts highlighted a new FCC policy that should enhance the company’s market share and pricing power.

Semtech surged more than 8% after second‑quarter earnings outpaced forecasts. Adjusted earnings came in at 71 cents per share versus a 61‑cent consensus, and both revenue and current‑quarter guidance beat expectations.

Boston Scientific fell 5% after disclosing a cybersecurity incident that is expected to cause disruptions and limit access to its products. The company has not yet provided a restoration timeline.

SAP declined 3% following a downgrade to “neutral” by UBS. Analysts pointed to SAP’s slow rollout of agentic AI as a headwind for monetization and noted that some customers may seek alternative solutions in the near term.

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