Market Activity Summary

Several companies have made headlines in today’s intraday trading. Intuit, known for TurboTax, saw its stock drop over 3% after reports indicated that it plans to cut approximately 17% of its workforce, which amounts to about 3,000 employees. Meanwhile, Hasbro, the toy giant behind “Magic: The Gathering,” experienced an 8% decline in its stock price. Despite this, Hasbro reaffirmed its full-year adjusted EBITDA outlook between $1.4 billion and $1.45 billion, slightly above analysts’ expectations.

AMC Entertainment, once a meme stock favorite, surged 13% after CEO Adam Aron announced his purchase of 250,000 shares, valued at around $344,000. His post on social media expressed strong confidence in AMC’s future. Travel stocks also showed gains; airline shares jumped as oil prices fell more than 4%. United Airlines increased by 9% and Delta by 8%, while Carnival and Norwegian Cruise Line each rose about 7%.

Toll Brothers, the homebuilder, reported second-quarter earnings of $2.72 per share, beating estimates of $2.57. The company’s sales reached $2.51 billion, surpassing expectations of $2.42 billion. However, Target’s stock fell about 4%, reversing prior gains. The retailer maintains that its operating profit margin for 2026 will improve by 20 basis points compared to last year, even after reporting better first-quarter numbers with revenue of $25.44 billion and earnings per share of $1.71.

Cava’s shares jumped 5% following its raised adjusted EBITDA outlook from $181 million to $191 million. The Mediterranean chain reported first-quarter earnings of 20 cents per share on $438 million in revenue, exceeding analyst forecasts. In contrast, Analog Devices’ stock dropped 6%, reporting free cash flow of $734 million, down from $1.09 billion the previous year, although adjusted earnings surpassed expectations at $3.09 per share.

After a brief break, semiconductor stocks rallied, with the iShares Semiconductor ETF gaining over 4%. Companies like Marvell Technology and Intel saw their stocks rise by more than 6%, while Advanced Micro Devices increased by 8%. Nvidia also joined the upward trend, with nearly a 2% rise.

Red Robin Gourmet Burgers had a remarkable day, with shares soaring 22% after reporting adjusted earnings of 13 cents per share, despite analysts predicting it would break even. The company’s revenue of $378.3 million also exceeded expectations. Additionally, TJX Companies reported better-than-expected first-quarter results, with earnings of $1.19 per share and revenue of $14.32 billion, leading to a 6% increase in its stock. However, they provided a slightly cautious outlook for the upcoming quarter.