TLDR
- AeroVironment jumped over 6% after posting record quarterly revenue of $480.5M, beating estimates by $24.5M
- Cooper Companies fell 16% after cutting its full-year revenue guidance and missing third-quarter revenue expectations
- American Eagle Outfitters dropped 11% despite beating Q2 earnings, as same-store sales for its flagship brand declined 1%
- Navan slumped 15% after acquiring AI platform BoomPop, despite raising its full-year outlook
- Stock futures edged higher Thursday as oil held above $100 a barrel, fueled by U.S.-Iran tensions
AeroVironment had a strong start to Thursday trading, climbing more than 6% after reporting record first-quarter revenue. The defense contractor brought in $480.5 million for the quarter, up 6% year over year and $24.5 million above what analysts had expected.
Adjusted earnings per share came in at $0.59, more than double the $0.25 estimate. Autonomous Systems revenue grew 21% to $346 million, driven by a 71% jump in uncrewed aircraft systems sales.
Gross margin also improved, expanding to 26% from 21% a year earlier. The company kept its full-year revenue outlook of $2.125 billion to $2.225 billion and adjusted EPS guidance of $3.02 to $3.34.
Cooper Companies Takes a Hit
Cooper Companies was among the worst performers in premarket trading, falling around 16%. The contact lens maker missed third-quarter revenue expectations and cut its full-year revenue guidance.
The company lowered its fiscal year 2026 revenue forecast to a range of $4.229 billion to $4.252 billion, down from a previous range of $4.285 billion to $4.321 billion. That came in below the $4.31 billion analyst consensus.
The board also decided to hold on to its CooperSurgical unit after a strategic review. The company cited a valuation gap partly tied to a new competitor entering the non-hormonal IUD market and a fertility litigation settlement.
Non-GAAP earnings guidance was also trimmed to $4.51 to $4.55 per share, from $4.58 to $4.66 previously. Cooper did raise its share buyback authorization to $3 billion from $2 billion.
American Eagle Slips Despite Earnings Beat
American Eagle Outfitters fell 11% even after reporting stronger-than-expected second-quarter results. Sales rose 9.4% year over year and profit climbed 34% to $0.79 per share.
However, the earnings figure included nearly $200 million in tariff refunds. Gross margin, excluding that tariff benefit, was squeezed by promotional pricing and higher supply chain costs.
Same-store sales at the American Eagle brand fell 1%. The Aerie and OFFLINE brands helped offset that, with comparable sales up 19% and revenue up 25%.
For the third quarter, the company expects operating income of $110 million to $115 million. Full-year 2026 operating income guidance was raised to $540 million to $550 million, up from a prior range of $390 million to $410 million.
Navan also had a rough session, sliding 15% after announcing its acquisition of AI meetings platform BoomPop, despite raising its full-year outlook. Shares had risen 52% so far this year, and investors appeared to use the news as a reason to take profits.
Oil prices stayed above $100 per barrel, with renewed U.S.-Iran military tensions keeping energy markets on edge. Adobe and Oracle are set to report earnings after Thursday’s close.
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