Top Stock Movers – May 28, 2025
U.S. equities traded lower at midday Wednesday as investors braced for the release of the Federal Reserve's latest meeting minutes and an eagerly anticipated earnings report from chipmaker Nvidia. The Dow Jones Industrial Average, S&P 500, and Nasdaq all posted losses in early afternoon trading.Homebuilder stocks were among the hardest hit after new data showed mortgage rates climbing to their highest levels since January. Shares of D.R. Horton (DHI), Pulte Group (PHM), and Lennar (LEN) each declined sharply as rising borrowing costs threatened housing demand.
In the tech sector, Okta (OKTA) shares fell after the identity management firm held off on raising its full-year guidance, citing macroeconomic uncertainty despite a strong first quarter.
Meanwhile, GameStop (GME) shares plunged after the company revealed it had spent over $500 million purchasing 4,710 bitcoin, sparking investor concerns over the retailer’s strategic direction.
On the upside, Abercrombie & Fitch (ANF) delivered a surprise beat on earnings, sales, and forward guidance, sending its shares surging. The fashion retailer reported strong demand for its Hollister brand, fueling optimism for the rest of the year.
Vail Resorts (MTN) shares rallied after the company announced a leadership shake-up, with former CEO Rob Katz returning to replace Kirsten Lynch.
Elsewhere, Warner Bros. Discovery (WBD) rose on news that CNN COO David Leavy would step down and return to the parent company, reigniting speculation about strategic changes within the media conglomerate.
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