S&P 500 Daily Summary: Deckers Stock Soars as Global Reach Expands; Intel Shares Decline
41 minutes ago
Gainers:
- Deckers Outdoor (DECK) witnessed a surge of over 11%, claiming the top spot in daily S&P 500 performance. The parent company of Ugg, Hoka, and Teva exceeded revenue and earnings expectations for the fiscal first quarter, driven by a nearly 50% increase in international sales.
- Newmont (NEM) reported quarterly sales and profits that outperformed forecasts, with its shares climbing by 6.9%. The rise in gold prices significantly boosted earnings, although sales of other metals saw a decline. Newmont also initiated a $3 billion share buyback program.
- VeriSign (VRSN), a domain name and internet service provider, increased its share repurchase authorization by $913 million, despite missing revenue estimates for the second quarter. The company did exceed earnings per share expectations and raised its full-year forecasts, causing stock to rise by 6.7%, reaching an all-time high above $300.
Losers:
- Charter Communications (CHTR) saw a stock drop of over 18%, the largest loss in the S&P 500, after failing to meet second-quarter profit predictions while reporting a significant decline in internet subscribers. Its competitor, Comcast (CMCSA), also dropped 4.8%.
- Intel (INTC) shares tumbled 8.5% following an unexpected second-quarter loss, despite reporting revenue above expectations. Concerns about the company’s turnaround under CEO Lip-Bu Tan have increased, especially with laid-off employees and project cancellations in Ohio and Europe.
- Healthpeak Properties (DOC) shares declined by 6.7% after lower-than-anticipated revenue was reported for the second quarter, although adjusted funds from operations matched forecasts.
– Michael Bromberg
