S&P 500 Gains and Losses Today: UGG Footwear Maker Deckers Outdoor Plunges on Weak Outlook

Key Takeaways

Major U.S. equities indexes moved lower on Friday to close January trading, though stocks pushed higher in the first month of 2025 despite the slow finish.

After starting the trading session on an upward trajectory as
inflation data came in as expected
, markets turned lower as the White House reiterated its plan for
tariffs on Canada, Mexico
and China.

The
S&P 500
dropped by 0.5%, while the
Nasdaq
gave up 0.3% to close the week. The
Dow Jones Industrial Average
declined by 0.8% after
moving higher in the prior session
.

Franklin Resources (

BEN

) was the top performer in the S&P 500 as the investment manager surged 10.4%. The company reported earnings that beat analyst projections despite revenue coming up shorter than expected. Strong earnings also sent Eastman Kodak (

KODK

) spinoff  Eastman Chemical (

EMN

) higher by 7.5%.

AbbVie (

ABBV

) stock jumped by 4.7% after the pharmaceutical firm
beat estimates on strong sales
of its Skyrizi and Rinvoq inflammation treatments and raised its long-term sales outlook for the drugs. Vertex Pharmaceuticals (

VRTX

) moved up by 5.3% after it said that the
Food and Drug Administration (FDA)
approved its
non-opioid pain treatment Journavx
.

Deckers Outdoor (

DECK

), the maker of UGG brand footwear, led the S&P 500 decliners by falling by 20.4% after its full-year revenue guidance
raised investor concerns
. The company said it would be facing challenges from competitor discounts, high shipping costs, and a strong U.S. dollar.

Walgreens Boots Alliance (

WBA

) stock moved lower by 10.3% after it suspended its dividend in order to fund a broader long-term turnaround for the company. The country’s largest pharmacy chain said it would
need the additional cash for potential litigation costs
and debt refinancing needs.

Colgate-Palmolive (

CL

) shares moved lower by nearly 4.7% after the company
cited worsening foreign exchange rates
as it missed earnings expectations, with sales declining in Latin America by 7%.

Las Vegas Sands (

LVS

) dropped by 5% after the casino company gave back gains from the prior session that stemmed from
optimism over its potential growth in China
.