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Deckers sinks on cautious full-year outlook that falls below estimates, compounding a miserable year for the Ugg maker

Deckers, the shoe maker behind brands like Ugg and Hoka running sneakers, has dropped about 11% in premarket trading after issuing a cautious outlook for its current fiscal year last night.

While revenue and profit both rose in the second quarter, up 9.1% and 9.7%, respectively, investors focused on the company’s forecast for the full fiscal year, where it expects sales to come in at $5.35 billion, some way short of the $5.46 billion analysts had estimated, per FactSet figures cited by The Wall Street Journal.

The language around the full-year guidance, which is already weaker than anticipated, has also got Deckers investors worried, with the company stating:

“This outlook assumes no meaningful changes to the Company’s business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to: changes in macroeconomic conditions, including consumer confidence, discretionary spending, inflationary pressures, and foreign currency fluctuations; changes to global trade policy, including tariffs and trade restrictions; geopolitical tensions; and supply chain disruption.”

The shoe company’s shares are down more than 55% in 2025 at the time of writing.

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Beyond Meat gains amid slightly better-than-expected Q3 sales, positive commentary on legal issues

Shares of Beyond Meat built on their premarket gains after the plant-based meat seller reported preliminary Q3 sales a bit ahead of Wall Street’s expectations, before paring this advance after the market opened.

For the three months ended September 27, management said net revenue would be approximately $70 million. That’s in line with their guidance range of $68 million to $73 million, but Wall Street was expecting sales to skew toward the lower end of that range, at $68.7 million.

However, its anticipated gross margin of 10% to 11% is lower than analysts had been expecting (13.8%). That’s still the case even adjusting for expenses related to its downsizing of operations in China, which would have left margins around 12% to 13%, per Beyond.

Perhaps more importantly, the company provided positive commentary regarding arbitration discussions with a former co-manufacturer that appear to bring it closer to a resolution while limiting potential damages:

“As previously disclosed, in March 2024, a former co-manufacturer brought an action against the Company in a confidential arbitration proceeding claiming that the Company inappropriately terminated its agreement with the co-manufacturer and claimed damages of at least $73.0 million. On September 15, 2025, the arbitrator issued an interim award (the ‘Interim Award’) and found that the Company had a valid basis to terminate the agreement with the Manufacturer. The details of the Interim Award are confidential, and a final arbitration award has not been issued. Additional proceedings will be held to determine the award of attorneys’ fees, prejudgment interest and costs, if any, before a final arbitration award will be issued. On September 25, 2025, the Manufacturer filed a request with the arbitrator to re-open the arbitration hearing. On September 29, 2025, the Company opposed this request. On October 20, 2025, the arbitrator denied the Manufacturer’s request.”

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Softer inflation means higher conviction in Fed easing, per prediction markets

A cooler-than-expected inflation report is fueling more confidence in additional Federal Reserve easing through year-end.

CPI rose 0.3% month on month in September, while its core measure of inflation, which strips out volatile food and energy prices, rose 0.2%. Both increases were a tick less than economists polled by Bloomberg had anticipated.

Market-implied odds derived from event contracts offered on Robinhood show that the probability of the US central bank delivering exactly three cuts this year rose to as high as 85% in the minutes following the release, up from 77% beforehand.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

The Federal Reserve reduced its policy rate by 25 basis points in September to a range of 4% to 4.25%. It meets again next week and its final rate decision for 2025 is scheduled for December 10.

The central bank’s most recent “dot plot” showed that the median official thought 75 basis points of easing (or three 25-basis point rate cuts) would be appropriate for 2025 if the economy evolved in line with their expectations.

Stocks rose in the minutes after the CPI print, with the SPDR S&P 500 Trust gaining 0.3%, as of 8:50 a.m. ET, leaving it 0.6% higher than it closed last night.

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Alaska Air drops after Q3 profit missed expectations and an IT outage grounded its flights across the US

A bad news twofer is driving Alaska Airlines lower in premarket trading Friday, following the airline’s Q3 earnings report after the close on Thursday.

Alaska Air posted adjusted diluted earnings of $1.05 per share, below Wall Street’s expectation of $1.09.

Last month, ALK warned that elevated fuel costs and factors like weather and air traffic control issues would put its results toward the lower end of its EPS guidance. At the time, analysts had been expecting the carrier to post earnings of $1.35 per share. In its report, Alaska Air posted $3.62 billion in operating expenses, up 32% from last year.

The airline did beat on revenue, reporting $3.77 billion in sales in the quarter, representing a 23% jump from the same period last year.

Adding to negative sentiment around the stock was a tech outage that grounded Alaska’s flights across the US for several hours on Thursday, leading to 229 cancellations. The outage forced the airline to postpone its earnings call.

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Upstart data center and AI energy stocks rise as Trump administration reportedly pushes for data centers to access power faster

The Trump administration is urging regulators to speed up the approval process that allows for data centers to connect to the power grid, per a Bloomberg report published late Thursday evening.

Citing a proposed rule draft that US Energy Secretary Christopher Wright sent to the Federal Energy Regulatory Commission, the administration is looking to limit these reviews to 60 days. At present, such reviews can stretch on for years. “Data centers could win a speedy review if they include new power plants or agree to curtail usage in response to regional grid strain during high-demand periods such as heatwaves,” per the report.

Simply, the more roadblocks are removed from data centers being in operation, the faster a supply-constrained AI boom can realize demand. As such, adopting such a proposal could be a boon for the entire ecosystem, from data center upstarts to the fledgling power providers looking to meet the growing demand for power.

Data center companies IREN and Cipher Mining are up big in premarket trading, as are nuclear energy company Oklo and fuel cell company Bloom Energy.

Caveat: these are volatile stocks, and it’s very unclear whether this report is the catalyst for their early gains — but it certainly stands to reason that it would!

Ford posts better-than-expected profit and sales, but lowers its full-year earnings outlook

Ford shares seesawed in after-hours trading as investors digested the Q3 report.

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