Stock futures edged lower Friday morning, the last trading day of January, as investors weighed reports of Kevin Warsh potentially replacing Jerome Powell as Federal Reserve chairman, while gold and silver pulled back from record highs.
Here are some of Friday’s biggest stock movers:
Biggest stock gainers
- SanDisk (SNDK) +20% – Shares jumped after the company delivered a blowout FQ2, with revenue up 61% Y/Y driven by a sharp acceleration in data center demand. Data center revenue surged 64% Q/Q to $440M, while edge and consumer revenues rose 21% and 39%, respectively. The upside extended to guidance. Q3 adjusted EPS was seen at $12–$14, far above the $4.41 consensus, and revenue was guided to $4.4B–$4.8B. Sentiment was further boosted after SanDisk and Kioxia extended their Yokkaichi joint venture by five years to 2034.
- Deckers Outdoor (DECK) +15% – Shares jumped after the company posted record FQ3 profit and revenue, driven by strong demand for UGG and HOKA across both wholesale and DTC channels. HOKA sales rose 18.5% to $628.9M, and UGG sales increased 4.9% to $1.31B, lifting total revenue 7.1% to $1.96B, well above expectations. Adjusted EPS climbed 11% to $3.33, beating estimates despite a 50 bp margin contraction. On the back of the strong quarter, Deckers raised its full-year outlook, guiding EPS of $6.80–$6.85 and higher sales, margins, and brand growth assumptions, all above Street expectations.
- Tesla (TSLA) +3% – Shares rose after Bloomberg reported SpaceX is considering a merger with Tesla or an alternative combination with xAI, potentially exchanging xAI shares for SpaceX equity ahead of a possible mid-2026 IPO. The move aligns with SpaceX’s plans for orbital data centers powered by Starlink to bolster xAI’s AI infrastructure, creating synergies across Elon Musk’s ventures. This speculation followed Tesla’s recent disclosure of a roughly $2B investment in xAI to advance AI initiatives under Master Plan Part IV, fueling investor enthusiasm for Musk’s interconnected ecosystem despite the talks remaining preliminary.
Biggest stock losers
- Schneider National (SNDR) -15% – Shares plunged after Q4 earnings missed expectations, with weakness in the intermodal segment weighing on results. Management said results came in below guidance due to softer demand from November, a shortened peak season, higher third-party carrier costs, auto production shutdowns, and elevated healthcare expenses. While conditions improved late in December, it wasn’t enough to offset earlier pressures. For 2026, Schneider guided a full-year EPS of $0.70–$1.00, well below the $1.07 consensus.
- KLA (KLAC) -11% – Shares tumbled despite FQ2 beat on earnings and revenue, as the market focused on softer free cash flow vs. estimates and a muted reaction to guidance. Adjusted EPS came in at $8.85 on revenue of $3.3B, both slightly ahead of consensus, with strength in services offsetting modest product growth. While Q3 guidance topped expectations, investors appeared cautious on near-term momentum despite management highlighting strong positioning in AI-driven demand across foundry, memory, and advanced packaging.