Thursday, May 22, 2025

Market indexes broke the spell today about high bond yields providing a headwind for equities. This doesn’t appear to have as much to do with the overall levels — the 30-year at +5.05% is the highest it’s been in 18 years — but that they have moderated from yesterday’s spike and this morning’s heated levels.

That said, the major indexes took a dive in the final half-hour of trading today, finishing flat overall on the Dow, S&P 500 and small-cap Russell 2000. The Nasdaq, which also tacked downward near the end of the session, closed +53 points, +0.28%. We’re still in the red over the past five trading days, but are still up nicely in the past month — double-digits in the S&P and Nasdaq’s cases.

Quarterly Earnings After the Close: WDAY, DECK, INTU, ROST, ADSK

Zacks Rank #5 (Strong Sell)-rated WorkDay WDAY posted sizable beats on both top and bottom lines in its Q1 report this afternoon, with earnings of $2.23 per share on $2.4 billion in quarterly sales, from $1.99 per share and $2.22 billion, respectively. However, the company kept guidance levels steady and announced it is cutting its capex spending. As a result, shares are down -5% in late trading. (You can see the full Zacks Earnings Calendar here.)

Deckers Outdoor DECK shares — the parent company of UGG, Teva, Hoka and other footwear — are plummeting even lower: -11%, even after putting up healthy beats on both earnings and revenues. Earnings of $1.00 per share is well past the 57 cents in the Zacks consensus, with sales of $1.02 billion above the $988.6 million expected. But guidance for the current quarter was well below estimates on both lines, and decided to hold back full-year guidance on tariff issues.

Intuit INTU also surpassed expectations on earnings and sales for its fiscal Q3, with a bottom line of $11.65 per share nicely ahead of the $10.89 in the Zacks consensus and $7.75 billion in revenues, beyond the $7.54 billion analysts has been looking for. Next-quarter guidance was raised considerably, led by growth in its Credit Karma business. Shares are up +5% in late trading. 

Discount retailer Ross Stores ROST beat earnings estimates by 4 cents to $1.47 per share on $4.98 billion in revenues, which was a smidge ahead of the Zacks consensus. Same-store sales were flat, but that was an improvement over a projected -0.9% figure. Again, however, next-quarter earnings guided well below previous estimates, with tariff pressure a major potential cause, and shares are tumbling -9% in the after-market. 

AutoDesk ADSK also reported Q1 earnings after today’s close, beating substantially on the bottom line — earnings of $2.29 per share versus $2.14 anticipated — and more narrowly on the top: revenues of $1.63 billion versus $1.61 billion forecast. But its guidance for next quarter is up quite nicely, leading to late-trading gains of +5% on the news.

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Deckers Outdoor Corporation (DECK):Free Stock Analysis Report

Ross Stores, Inc. (ROST):Free Stock Analysis Report

Autodesk, Inc. (ADSK):Free Stock Analysis Report

Intuit Inc. (INTU):Free Stock Analysis Report

Workday, Inc. (WDAY):Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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