Stocks Reacting After Hours
- Stocks of Cava, Uber, Ross Stores, and Workday are experiencing significant movement after hours.
- Investors are closely monitoring the market as these stocks post big moves after the bell.
- The reaction of these stocks after hours could indicate future market trends.
In after-hours trading, Cava Group emerged as a standout performer, with shares climbing nearly 6% following a robust earnings report. The fast-casual restaurant chain reported a profit of 17 cents per share, surpassing the LSEG estimate by 4 cents, alongside revenue that also exceeded expectations, signaling strong operational performance. Conversely, Uber experienced a decline of about 3% in its stock price after announcing a multiyear partnership with General Motors' Cruise. This collaboration aims to introduce driverless rides for Uber users as early as next year. In contrast, GM's shares saw a modest increase of over 1% in after-hours trading, reflecting investor optimism about the partnership. Ross Stores, the off-price retailer, saw its stock surge approximately 6% after reporting earnings that exceeded analyst expectations. The company posted earnings per share of $1.59 for the second quarter, 9 cents above forecasts, while its revenue of $5.25 billion met analyst estimates, indicating a solid performance in a competitive retail environment. Workday also made headlines with a significant jump of over 11% in its shares after reporting earnings and revenue that surpassed expectations. The cloud company projected subscription revenue for the third quarter at $1.96 billion, slightly below analyst expectations but still reflecting strong growth. Additionally, Bill Holdings saw a rise of more than 3% after reporting adjusted earnings of 57 cents per share, exceeding estimates and showcasing its financial strength in the cloud-based payments sector.