Here are some companies that are making headlines in intraday trading. Workday — Shares rose 6% after the enterprise artificial intelligence platform reported better-than-expected second-quarter results. The company had adjusted earnings of $2.75 per share on revenue of $2.65 billion. Analysts polled by LSEG had expected earnings of $2.61 per share, or $2.64 billion. Salesforce — The software company’s stock continued to rise after the earnings report. The stock rose 3% on Friday, up more than 22% from the previous day. The company beat expectations for second-quarter sales and bottom line profits, posting a $2.6 billion gain on strategic investments, including a stake in AI startup Anthropic. Nvidia — The semiconductor giant’s stock fell more than 3%. Nvidia’s stock rose nearly 9% in the session, pushing the S&P 500 and Nasdaq Composite Index to their best daily performance since Aug. 4. Amazon-Evercore ISI raised its price target to $355 from $315, sending the e-commerce giant’s shares soaring nearly 4%. “For the first time, research evidence shows that agent AI is actually additive to Amazon Retail,” said analyst Mark Mahaney. Strategy, Coinbase — Cryptocurrency stocks fell 7% and 6%, respectively, on the backlash in Bitcoin prices. The flagship cryptocurrency was trading down about 3% at $77,597.90 as of 12:18 p.m. ET. ServiceNow — Shares of the enterprise software platform rose 3%, heading for a second consecutive day of wins. Speaking at Deutsche Bank’s technology conference this week, Finance Director Gina Mastatuono said ServiceNow’s AI business is on track to reach its full-year goal of $1.5 billion. PayPal — The company’s stock plunged nearly 16% after Bloomberg reported Thursday night that acquisition company Advent and payment processor Stripe had decided not to pursue PayPal, citing people familiar with the matter. The deal will be one of the largest leveraged acquisitions, people familiar with the matter told the outlet. Positive — Shares rose 5% as the buy now, pay later company reported fiscal fourth-quarter revenue of $1.17 billion, beating LSEG’s estimate of $1.11 billion. The company’s first-quarter earnings forecast also exceeded expectations. GAP — Shares soared nearly 13% after the retailer announced Michael Francis would take the helm of Old Navy starting Nov. 2. He will succeed Haio Barbeito, who has been serving as CEO since 2022. Gap’s second-quarter adjusted earnings beat expectations, coming in at 52 cents per share, compared to LSEG’s consensus estimate of 48 cents. Elastic NV – The data analytics company’s stock soared more than 17% after its full-year earnings forecast beat analysts’ expectations. The company expects adjusted earnings per share to be in the range of $3.29 to $3.37. Analyst estimates compiled by LSEG were for $3.24 per share. Marvell Technology — Shares fell 10% as Marvell reported adjusted earnings for the quarter of $1.10 per share, plus or minus 5 cents, compared to analyst estimates compiled by LSEG of $1.07 per share. The company also expects non-GAAP gross margin to be in the range of 57.5% to 58.5% for the same period. In comparison, StreetAccount’s consensus request is 58.5%. Rubrik — Security and AI management company’s stock price fell more than 11%. Rubrik’s second-quarter non-GAAP gross margin was 81%, compared to the StreetAccount consensus estimate of 81.7%. However, the company outperformed in sales and bottom line profits. Rubrik said he expected earnings per share excluding items to be 20 cents a share on revenue of $427 million for the quarter, while analysts, per LSEG, expected earnings of 4 cents a share and $396 million. Autodesk — Shares of the maker of 3D design software fell 4% after revenue forecasts fell short of expectations. Autodesk expects third-quarter adjusted earnings per share to be in the range of $3.04 to $3.09, while analysts surveyed by LSEG expected $3.14 per share. — CNBC’s Fred Imbert, Alex Harring and Darla Mercado contributed reporting
