Top Stock Movers Now: Apple, Deckers Outdoor, Intuit, and More
Published: May 23, 2025, 12:00 PM EDT
In a volatile trading session, U.S. equities experienced a decline as significant market movers affected investor sentiment. President Donald Trump issued a stark warning that Apple Inc. and products imported from the European Union would face severe tariffs, which in turn prompted a sell-off in major stock indices.
Tariff Threats Impact Apple Shares
Apple Inc. (AAPL) saw its stock price tumble amidst President Trump’s announcement of a potential 25% tariff on iPhones not manufactured domestically. The news, conveyed through Trump’s social media platform, ignited fears among investors concerning increased production costs and reduced sales. The broader market reacted negatively, with the Nasdaq composite dropping by 1%, while both the Dow Jones Industrial Average and S&P 500 followed suit with declines of their own.
Deckers Outdoor Withholds Guidance
In tandem with Apple’s tumultuous reactions, Deckers Outdoor Corporation (DECK), known for popular footwear brands like Hoka and Ugg, reported a disappointing outlook for the current quarter. The company cited uncertainty surrounding tariffs as the primary reason for its decision to withhold full-year guidance. Consequently, Deckers’ shares experienced a significant drop, reflecting investor concern over the potential impact of tariffs on sales and profitability.
Intuit Surprises with Strong Earnings
While many stocks faltered, Intuit Inc. (INTU), the maker of tax preparation software TurboTax and accounting software QuickBooks, emerged as a standout performer. The company reported better-than-expected financial results for the latest tax season, surpassing both profit and sales estimates. Additionally, Intuit raised its guidance for future growth, prompting a surge in its stock price and distinguishing it as the top performer on the S&P 500 list.
Additional Stock Movements
Several other notable stocks also saw significant movements. Shares of Workday (WDAY) plunged as the human resources software provider chose not to raise its full-year subscription revenue forecast, citing an "uncertain environment." Meanwhile, shares of mining companies Newmont Corporation (NEM) and Freeport-McMoRan (FCX) rose in response to climbing gold prices, which reached their highest level in over two weeks.
Seagate Technology Holdings (STX) experienced an uptick in shares following Citi’s revision of its price target, fueled by positive sentiment surrounding future growth. This came shortly after the company announced an ambitious $5 billion stock buyback plan, further boosting investor confidence.
Market Overview
In broader market terms, oil futures exhibited gains, while the yield on the 10-year Treasury note fell. The U.S. dollar weakened against major currencies such as the euro, pound, and yen. Conversely, most significant cryptocurrencies experienced downward movements, reflecting a challenging environment across various asset classes.
As investors navigate these turbulent market conditions marked by tariff threats and shifting corporate forecasts, the performance of individual stocks will remain closely watched in the coming days.
For ongoing coverage and analysis of market trends, stay tuned to Smart Money Mindset.
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