markets

Tom Jones10/24/25

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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Tasha Matsumoto

Stocks close at new records, led by chip stocks, as April jobs report surprises to upside

Stocks posted their sixth consecutive weekly gain as April payrolls quelled economic fears.

UNITED STATES - JUNE 12: Basketball: finals, Closeup of Chicago Bulls Michael Jordan victorious with wife Juanita and trophy after game vs Los Angeles Lakers, Los Angeles, CA 6/12/1991

markets

Akamai climbs to highest level since 2000 after reportedly securing Anthropic as a customer

Akamai’s billion-dollar AI infrastructure customer is Anthropic, Bloomberg reported on Friday. The cloud services company extended gains to trade up over 25% following the news.

On Thursday, the company announced a seven-year, $1.8 billion commitment from a “leading frontier model provider.”

Anthropic has been on a mad scramble to boost compute capacity after facing widespread complaints about Claude usage limits and seeing OpenAI position its accumulation of computing power as a competitive advantage.

In a little over a month, Anthropic has struck or expanded deals with CoreWeave, Amazon, Google, Broadcom, as well as xAI (through SpaceX).

As part of that xAI pact, Anthropic announced that it would be increasing usage limits for paying customers.

Akamai Technologies jumps on $1.8 billion cloud infrastructure deal

Akamai Technologies jumps on $1.8 billion cloud infrastructure deal

Anthropic has been on a mad scramble to boost compute capacity after facing widespread complaints about Claude usage limits and seeing OpenAI position its accumulation of computing power as a competitive advantage.

In a little over a month, Anthropic has struck or expanded deals with CoreWeave, Amazon, Google, Broadcom, as well as xAI (through SpaceX).

As part of that xAI pact, Anthropic announced that it would be increasing usage limits for paying customers.

markets

Helena Cheng22h

NuScale Power falls on disappointing drop in Q1 sales

NuScale shares are dropping in the early trading session after it released Q1 earnings yesterday after the bell that are failing to rejuvenate any excitement in the once high-flying, early-stage nuclear energy company.

The company announced Q1 revenue of just $560,000, well below the $10.5 million estimate, with sales down materially year over year thanks to old licensing and design deals that have since been completed.

The lack of financial progress has made NuScale Power more of a momentum-driven way to play the intersection of clean energy and AI infrastructure, particularly as hyperscalers and data center operators search for long-term power sources.

“The demand for reliable, carbon-free power has never been greater, and NuScale is the only SMR technology provider with a U.S. Nuclear Regulatory Commission approved design, an established supply chain and NPM components currently in production for commercial use to meet this essential need,” said John Hopkins, NuScale president and CEO. “We are building the infrastructure that this pivotal moment requires.”

Analysts at Goldman Sachs trimmed their price target to $9 from $10 in the wake of this report.

The company ended this quarter with cash, cash equivalents, and short- and long-term investments of $1.0 billion. The stock has dropped more than 25% year to date.

“Retail-driven momentum and short squeeze dynamics remain a dominant force in the market today,” says Citadel Securities

Retail has flipped from aggressive put buying to call buying, per Citadel Securities.

2021 Times Square New Year's Eve Celebration

markets

Max Knoblauch23h

Nintendo falls, will hike Switch 2 price amid memory crunch

Gaming giant Nintendo reported the results for its fourth quarter, which ended in March, on Friday morning. Its US-traded ADR fell nearly 4% in premarket trading.

Most notably, Nintendo announced it will raise the price of its Switch 2 console in the US by $50 to $499.99 in September. Investors have been waiting for Nintendo to join its rivals Sony and Microsoft in boosting the price of its flagship console, but the company had thus far been unwilling to do so this early in the Switch 2’s life cycle.

Nintendo shares have fallen about 45% over the past 12 months, as the company has been hit by tariffs and costs have increased due to AI’s memory demand and higher global shipping rates amid the war in Iran.

For its fiscal 2026, Nintendo reported:

2.313 trillion yen ($14.8 billion) in total revenue, compared to estimates of 2.31 trillion yen ($14.78 billion) from Wall Street analysts polled by FactSet.
19.86 million Switch 2 sales, compared to its 19 million forecast.

For the fiscal year ahead (which will end in March 2027), Nintendo forecast 16.5 million Switch 2 sales. The company is guiding for 2.050 trillion yen ($13.1 billion) in sales for the full year, compared to Wall Street estimates of 2.5 trillion yen ($16.1 billion).

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