Intuit’s shares fell 9% in after-hours trading after the company issued a cautious fiscal 2027 outlook, projecting earnings per share of $22.88–$23.12 and revenue of $23.3–$23.5 billion. The guidance missed analyst expectations for EPS of $27.30 and revenue of $23.74 billion, with slower-than-expected growth in TurboTax and ongoing platform restructuring cited as key drags.
Semtech’s stock rose 3% following a strong second-quarter performance, with adjusted earnings of $0.71 per share and revenue of $341.9 million. The company’s AI data center networking segment surged 64% year-over-year, driving the beat-and-raise results. Semtech also provided a bullish third-quarter outlook, forecasting revenue of $405–$415 million and adjusted EPS of $1.02–$1.08.
Zoom Video Communications declined 3.5% despite beating second-quarter estimates, with earnings of $1.55 per share and revenue of $1.28 billion. The company raised its full-year revenue guidance to $5.09–$5.10 billion, but profit-taking weighed on shares as growth normalization persists in its core online business.
nCino’s shares dropped 10% after reporting second-quarter adjusted earnings of $0.05 per share on revenue of $161 million. The company’s third-quarter revenue outlook of $161.25–$163.25 million matched expectations, but concerns over elongated sales cycles in regional banking weighed on sentiment.
Spyre Therapeutics plunged 16% after announcing disappointing topline results from its Phase 2 SKYWAY trial evaluating SPY072 in rheumatoid arthritis. The trial failed to meet the company’s internal efficacy threshold to advance as a monotherapy, casting doubt on the drug’s development prospects.
