Decoding Wall Street: Ross Dressed Down, Intuit Gets a Promotion

Ross's Rough Retail Reality

Well hello there future innovators! Bill Gates here dropping in to decipher the latest market moves. It appears Ross Stores took a tumble with shares sinking over 11%. They've withdrawn their full year guidance which is like saying 'Oops I thought I had a handle on this retail thing but turns out I need a debugger!' They’re blaming potential tariff pressures which is never a good sign. As I always say 'Success is a lousy teacher. It seduces smart people into thinking they can't lose.' Looks like Ross got a bit too comfortable.

AutoDesk's Upward Ascent

On a brighter note AutoDesk saw a boost climbing over 2%. Their second quarter outlook is rosier than expected. Makes you think they are finally debugging all those AutoCAD crashes!. Forecasting adjusted earnings in the range of $2.44 to $2.48 per share. It's always satisfying when software companies do well; after all I did okay in that industry. As I said in the past “The advance of technology is based on making it fit in so that you don't really even notice it so it's part of everyday life.”

Intuit's Taxing Triumph

Intuit the masters of tax software are looking very happy. Their shares jumped about 8% after forecasting a solid outlook for the full year. Adjusted earnings are expected to be in the range of $20.07 to $20.12 per share. That is up from their earlier guidance. Numbers don't lie! It seems like everyone suddenly loves doing their taxes... wait no it's still taxes but hey at least the company is doing well. Taxes are inevitable death is inevitable the key is to manage the process.

Workday's Workforce Woes

Now Workday had a bit of a stumble dropping over 6%. Seems their second quarter subscription revenue forecast merely matched expectations and the market hates when expectations are merely met. They crave overachievement like a toddler demanding more candy. Their first quarter results *did* surpass estimates but that's old news folks. What have you done for me lately? As they say good results yesterday does not guarantee good results tomorrow.

StepStone's Strategic Surge

StepStone Group a private market investment firm enjoyed a nice surge of 13%. Assets under management jumped to $189.4 billion. That's a whole lot of zeroes! Clearly someone's making the right calls. It's a good reminder that “Your most unhappy customers are your greatest source of learning.”

Deckers Gets Decked

Finally Deckers Outdoor the folks behind Ugg boots saw their shares slide 14%. Turns out macroeconomic uncertainty and evolving global trade policies are cramping their style. They declined to provide full year guidance for fiscal 2026 which is never a confidence booster. Nothing is certain never get too comfortable. As I always say “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.”