OKLO - PRISM Stocks making the biggest moves premarket: Apple, Tesla, Intuit, Ross Stores and more
2025-05-23 10:00:35 ET
Discover the latest market movers and news that are shaking up the stock world this morning:
Apple - The tech titans shares dipped 3.5% in premarket trading after President Donald Trump announced via social media that Apple may face tariffs of 25% or higher for iPhones produced outside the United States.
Nuclear Energy Stocks - Companies linked to nuclear energy experienced a surge after a report from Reuters suggested President Trump is poised to sign orders promoting nuclear power as soon as Friday. Stocks like Oklo an d NuScale saw over an 8% rally each, while Constellation Energy grew by 2%, and Cameco climbed 4%.
Intuit - Tax software leader Intuit soared nearly 8% as it delivered an optimistic full-year outlook, projecting adjusted earnings between $20.07 and $20.12 per share, better than the previous guidance. Analysts had pegged it at $19.40, highlighting Intuits strong performance in its fiscal third quarter.
Ross Stores - Shares plunged more than 12% after the off-price retailer retracted its full-year guidance due to unpredictable tariff announcements, casting doubt on second-quarter earnings expectations. Ross Stores warns of profit pressure if tariffs remain high.
Deckers Outdoor - The maker of Ugg boots saw shares sink 19% after opting not to provide full-year guidance for fiscal 2026, citing macroeconomic uncertainty around global trade policies. Despite this, fourth-quarter results surpassed forecasts.
Tesla - Shares in the electric vehicle powerhouse slid 1.1% despite a rosy outlook from Wedbush Securities analyst Dan Ives, who is bullish on Teslas autonomous vehicle prospects as its robotaxi launch in Austin looms near.
Workday - Shares dropped over 8% after Workday's second-quarter subscription revenue forecast matched expectations. Despite this, first-quarter results exceeded predictions.
StepStone Group - Shares rose over 5% thanks to the private market investment firm reporting a substantial increase in assets under management, which jumped to $189.4 billion in the fiscal fourth quarter from $156.6 billion the previous year.
Autodesk - The software company saw its shares rise over 1% following a second-quarter outlook that exceeded expectations. Autodesk anticipates earnings between $2.44 and $2.48 per share and revenue up to $1.73 billion.
Xerox - The stock tumbled more than 9% as Xerox revised its capital allocation strategy ahead of its Lexmark acquisition, slashing its dividend by 80% to 2.5 cents. It still maintains its fiscal year 2025 outlook unchanged.
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