Deckers Outdoor Corp (NYSE:DECK) shares plunged 20% to about $100 after the HOKA and UGG parent company scrapped its annual outlook due to economic uncertainty.
Also weighing on the stock was weaker-than-expected first quarter revenue guidance based on pre-tariff estimates of $890 million to $910 million, below the Street consensus of $925.9 million.
Tesla Inc (NASDAQ:TSLA) is poised to enter a “golden age of autonomous growth,” according to Wedbush’s Dan Ives, who raised his price target on the electric vehicle maker by more than 40% to $500, citing the upcoming rollout of key AI and full self-driving (FSD) initiatives.
In a note, Ives called Tesla “the most undervalued AI play in the market today” and said the launch of new autonomous capabilities in Austin, Texas, set for June, will mark the start of a “massive stage of valuation creation” for the Elon Musk-led company.
Citi has warned that renewed selling in US Treasuries poses a growing risk to global equity markets, with valuations likely to come under pressure if yields continue to rise.
In its latest global equity strategy update, the bank highlights government borrowing concerns and instability in the US budget process as key drivers behind recent moves in the bond market.
Apple Inc (NASDAQ:AAPL, ETR:APC) shares moved almost 4% lower before Friday’s opening bell after US president Donald Trump threatened to impose a 25% tariff on Apple products unless iPhones sold in the United States are manufactured domestically rather than in countries like India or China.
Apple has been shifting some of its iPhone manufacturing to India as part of its supply chain diversification in response to Trump’s tariffs on China.
Jakob Stausholm will step down as Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) chief executive at the end of 2025, a move that JPMorgan believes strengthens the case for unlocking value in the miner’s global portfolio and dual-listed structure.
The bank reiterated its 'overweight' rating on the stock and sees up to 30% upside, underpinned by a £59.20 base case valuation.