Here’s a look at the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain jumped more than 21% on stronger-than-expected quarterly results. Cava reported fiscal second-quarter revenue of $233 million and earnings of 17 cents per share. That beat LSEG’s expectations for earnings of 13 cents a share and revenue of $220 million. Intuit — The financial software company’s current-quarter outlook missed Wall Street expectations and overshadowed revenue and profit growth in its fiscal fourth quarter, sending its shares down 7%. Intuit now forecasts adjusted earnings of $2.33 to $2.38 per share, while analysts polled by FactSet forecast $2.78 per share. Warby Parker — The eyewear retailer rose 12% after JMP Securities upgraded its rating to outperform. Analyst Nicholas Jones cited low consensus estimates for Warby’s “sustained market share dynamics” as a catalyst. Las Vegas Sands — Shares of the casino and resort company fell 2% after UBS downgraded the casino and resort company’s stock to neutral from buy. The investment bank noted that business recovery in Macau faces continued challenges. Bill.com — The financial software stock fell 5% despite a stronger-than-expected fourth-quarter report. Following the report, Goldman Sachs downgraded the stock to neutral from buy, citing guidance on revenue and Bill.com’s internal investments. Bill.com’s adjusted earnings per share for the quarter were 57 cents on revenue of $344 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of 46 cents per share on revenue of $328 million. Ross Stores — The off-price retailer beat expectations for second-quarter earnings of 9 cents per share, sending its shares up 1.4%. Roth’s revenue forecast was in line with LSEG’s forecast of $5.25 billion. Workday — The enterprise management cloud company beat Wall Street estimates in its fiscal fourth quarter, sending shares up nearly 11%. Workday reported adjusted earnings of $1.75 per share on revenue of $2.09 billion, while analysts polled by LSEG forecast earnings of $1.65 per share on revenue of $2.07 billion. Shares of select technology companies – Nvidia and Tesla – rose more than 2% after Federal Reserve Chairman Powell made optimistic comments about future interest rate cuts. Investors hope lower interest rates will help boost the group. The VanEck Semiconductor ETF (SMH) rose more than 1%. Chewy – Shares of Chewy rose 1% after pet retailer Piper Sandler upgraded the stock to overweight from neutral. The company said it expects the stock to move higher due to gross margin expansion and increased automation and efficiency. —CNBC’s Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han and Michelle Fox contributed reporting.
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