Guidewire, Tesla, Lululemon, Adobe Among Biggest Midday Movers

According to CNBC, Guidewire Software fell 21% after its current-quarter revenue guidance missed expectations, while Tesla dropped 6% after the National Highway Traffic Safety Administration announced an investigation into whether the Cybercab complies with federal safety standards. Sandisk rose more than 8% and KLA gained 7% as chip stocks rallied, while the VanEck Semiconductor ETF (SMH) climbed more than 2% and the Roundhill Memory ETF (DRAM) advanced 5%. Quanex Building Products surged 19% after reporting third-quarter adjusted earnings of 79 cents per share and revenue of $501.8 million, both above estimates. AMC Entertainment gained 6.5% after CEO Adam Aron criticized Robinhood’s stock tokens for AMC and other companies, while Equifax, TransUnion and Fair Isaac fell after Federal Housing Finance Agency Director Bill Pulte said on X that the credit bureaus had been overcharging Americans for too long. Smith & Wesson rose 6% after beating on earnings and revenue, while Lululemon Athletica tumbled 17% after issuing a weaker-than-expected forecast for the current quarter. Zscaler slipped 5% despite beating quarterly estimates and issuing guidance that topped expectations. Adobe said Anil Chakravarthy will become its next CEO, succeeding Shantanu Narayen, and shares were last down 6%. Asana fell 14% after its third-quarter outlook missed estimates, while Samsara rose about 4% after lifting its full-year revenue and adjusted earnings guidance. UiPath lost 16% after its current-quarter outlook came in near estimates, and Oxford Industries sank 17% after cutting its full-year earnings and revenue guidance.