Intuit raises earnings guidance amidst market fluctuations
- Intuit's stock surged nearly 8% after issuing a positive full-year earnings outlook.
- Ross Stores and Deckers Outdoor both saw significant drops in their stock prices due to withdrawn guidance and macroeconomic uncertainties.
- The current market remains volatile with varying performances across different companies, reflecting investor concerns.
In the financial markets, significant shifts have occurred across various companies as of May 22, 2025. Intuit, a leading tax software firm, observed a remarkable 8% surge in its stock price after announcing an optimistic earnings forecast for the fiscal year. The company stated an expected adjusted earnings range of $20.07 to $20.12 per share, surpassing the previous guidance of $19.16 to $19.36. This uptick came on the heels of stronger-than-anticipated fiscal third-quarter results, indicating a positive trajectory in its operational growth amidst a volatile market environment. Conversely, other companies faced notable declines due to various internal and external challenges. Ross Stores, for example, plunged over 12% after withdrawing its previously announced full-year guidance, citing uncertainty linked to fluctuating tariff announcements. The company's second-quarter earnings forecast also fell short of analysts' expectations, intensifying investor concerns about its future performance. Moreover, Deckers Outdoor, the maker of Ugg boots, experienced a staggering 19% drop in stock value after opting not to provide a full-year guidance for fiscal 2026. The company attributed this decision to ongoing "macroeconomic uncertainty related to evolving global trade policies," reflecting a broader concern affecting retail and consumer goods sectors. Additionally, the share prices of other corporations, including Workday and Xerox, saw declines after revealing second-quarter forecasts that failed to meet market expectations. Workday's stock fell over 8% following a forecast of subscription revenue that aligned with consensus estimates, while Xerox's shares dropped over 9% due to a significant 80% cut in its dividend amidst its upcoming acquisition plans for Lexmark. In contrast, companies like Autodesk saw modest stock increases as they provided optimistic second-quarter outlooks, illustrating the mixed performance patterns within the marketplace, underlining the ongoing volatility and varying investor sentiments across different sectors.