Biggest S&P 500 Movers on Wednesday
2 hr 17 min ago
Decliners
- Shares of credit score provider Fair Isaac (FICO) plunged 16%, falling the furthest of any stock in the S&P 500 for a second straight session. The move lower followed comments from Bill Pulte, director of the Federal Housing Finance Agency, who singled out the pricing of FICO’s credit evaluations in a conversation about lowering mortgage origination costs. Shares of fellow consumer credit reporting agency Equifax (EFX) lost 6.7%.
- AES Corp. (AES) shares also extended a string of recent losses, dropping 9.9% on Wednesday. Jefferies analysts downgraded the renewables-focused energy producer’s stock to “underperform” on Tuesday, citing a cautious view on the company’s financial health and market position.
- Moderna (MRNA) said it has withdrawn an application for the approval of a combination COVID and flu vaccine, and shares of the biotech firm dropped 7.8%. The losses mark a reversal from a recent uptick for Moderna’s stock, which gained steam as the Food and Drug Administration announced new guidelines for COVID vaccine boosters.
- Palo Alto Networks (PANW) shares slid 6.8% after the cybersecurity firm released financial results for its fiscal third quarter. Sales and profits edged out expectations, reflecting progress in the firm’s “platformization” strategy, which involves bundling products to encourage adoption. However, gross margins came in shy of forecasts, and operating expenses were above last year’s levels.
Advancers
- Shares of Google parent company Alphabet (GOOGL, GOOG) rose nearly 3%, securing the day’s top performance in the S&P 500. The gains followed the tech giant’s Google I/O conference keynote and its rollout of an artificial intelligence (AI) search mode across the U.S. Several analysts responded favorably, praising Alphabet’s cross-product AI integration along with its evolving strategy as the search landscape shifts.
Andrej Sokolow / picture alliance / Getty Images)
- CME Group (CME), which operates financial derivatives exchanges, is reportedly discussing the expansion of its delivery networks for aluminum contracts to Hong Kong, which would increase the company’s footprint in Asian metals markets. CME Group shares added 1.4%.
- GE Vernova (GEV) shares advanced 0.7% to a record-high close after the Tennessee Valley Authority (TVA) filed an application to build a small modular nuclear reactor developed by the energy technology firm. The project would be installed at the TVA’s Clinch River site near Oak Ridge, Tenn.
Why Nvidia-Backed CoreWeave Jumped Nearly 20% Wednesday
3 hr 19 min ago
CoreWeave (CRWV) shares soared Wednesday after the company announced an upsized $2 billion debt offering.
The Nvidia (NVDA)-backed cloud computing company’s offering consisted of senior notes with a 9.25% interest rate due in 2030, according to a statement, and was $500 million larger than CoreWeave initially planned. The company reportedly told CNBC that the deal was five times oversubscribed.
CoreWeave said it intends to use proceeds from the offering to repay existing debt, among other corporate purposes.
The news comes after CoreWeave last week posted first-quarter revenue that grew more than 400% year-over-year. It was the company’s first quarterly report since its initial public offering.
CoreWeave makes money by providing its clients with access to data centers, which are used to develop artificial intelligence models. The company’s data centers are equipped with highly coveted chips from Nvidia, which held a roughly 7% stake in CoreWeave as of the end of March, a filing last week showed.
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Coreweave’s shares closed 19% on Wednesday. With Wednesday’s gains, CoreWeave’s stock has nearly tripled in value since the company went public in March.
Snowflake Jumps After Hours on Strong Results, Forecast
3 hr 55 min ago
Snowflake (SNOW) reported quarterly revenue that beat analysts’ expectations and issued a strong full-year outlook, sending shares higher in extended trading Wednesday.
Snowflake shares surged more than 6% in after-hours trading. The stock was up 16% for 2025 through Wednesday’s close.
The cloud software provider posted first-quarter product revenue of $996.8 million, up 26% year-over-year and above the analyst consensus from Visible Alpha. Looking ahead, Snowflake forecast full-year product revenue of $4.33 billion, surpassing the $4.29 billion called for by Wall Street.
Total revenue for the quarter came in at $1.04 billion, a 26% jump that also topped estimates. Adjusted net income of $87.3 million, or 24 cents per share, rose from $52.2 million, or 14 cents per share, in the year-ago quarter, well ahead of projections.
Treasury Yields Soar as Wall Street Frets About US Deficit
4 hr 39 min ago
Treasury debt continued its wild ride on Wednesday, with yields soaring amid concerns about the U.S. government’s unsustainable deficit spending.
The yield on the 30-year Treasury bond surged as high as 5.1%, its highest level since November 2023, on Wednesday after a surprisingly weak 20-year Treasury note auction. The 10-year Treasury yield, which influences interest rates on all kinds of consumer and commercial loans, climbed to about 4.61%, its highest level since February.
The Treasury on Wednesday announced the results of a 20-year note auction in which demand was notably weaker than in last month’s sale. The auction’s highest yield rose to nearly 5.05% from 4.81% a month ago, while the bid-to-cover ratio, a common measure of demand, fell to 2.46 from 2.63.
Yields at their current levels could pose a problem for the stock market. Not only do high yields translate into higher interest rates on consumer and commercial loans, they also reduce the appeal of risky assets.
“A break above 4.50 is likely to turn the equity return/bond yield correlation meaningfully negative again, thus pressuring valuation,” wrote Morgan Stanley analysts, referring to the 10-year yield in a research note earlier this month.
Read the full article here.
TJX Drops as TJ Maxx Owner Issues Downbeat Outlook
5 hr 35 min ago
Shares in TJX Companies (TJX) fell Wednesday after the discount retailer operator posted a weak second-quarter outlook as tariffs weighed on its business.
The downbeat outlook came as the parent company of T.J. Maxx, HomeGoods, and Marshalls posted better-than-estimated fiscal 2026 first-quarter results. TJX reported earnings per share (EPS) of $0.92 on revenue of $13.11 billion. Analysts polled by Visible Alpha expected $0.90 and $13.02 billion, respectively.
However, TJX’s second-quarter forecasts for revenue, EPS, and comparable sales lagged estimates. “The Company’s second quarter Fiscal 2026 outlook includes an incremental negative impact from tariff costs on the merchandise it was committed to at the time additional tariffs were announced in March and April of 2025,” it said.
The retailer stuck with its fiscal 2026 projections of a 2% to 3% increase in comparable sales and EPS of $4.34 to $4.43.2
TJX shares are down more than 3% in late trading Wednesday but remain up about 8% so far this year.
Wolfspeed SInks on Report Company Set to File for Bankruptcy
6 hr 32 min ago
Wolfspeed (WOLF) shares cratered Wednesday, a day after a report that the struggling silicone carbide chip manufacturer would be filing for bankruptcy “within weeks.”
The Wall Street Journal reported that after the company rejected several proposals by creditors to restructure its debt, Wolfspeed was looking at a plan to use Chapter 11 bankruptcy in a way that’s acceptable to a majority of debt holders.
The company has been under financial pressure for months, and that was exacerbated in March when outgoing executive chair Tom Warner warned Wolfspeed may lose out on $750 million in grants and $1 billion in tax credits it had been expecting under the CHIPS and Science Act of 2022. In addition, this month the company posted disappointing results and added two board members to assist in dealing with the debt.
Investopedia has reached out to Wolfspeed for comment but has not received a response.
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Wolfspeed shares were down 63% at $1.15 in recent trading after hitting an all-time low Wednesday morning.
Alphabet Jumps on Optimism About Google AI Search
7 hr 31 min ago
Shares of Google parent Alphabet (GOOGL) surged Wednesday amid growing optimism about the tech giant’s AI search capabilities in the wake of Google’s I/O conference keynote and rollout of its “AI mode” offering in the U.S.
“We come away more confident that Google can successfully navigate the shift to AI Search,” JPMorgan analysts said following the event. The analysts reiterated an “overweight” rating and $195 price target, just above the analyst consensus of $194 compiled by Visible Alpha.
Shares of the Google parent were up close to 4% near $170 in recent trading. Alphabet shares have lost about 10% so far in 2025.
Google I/O underscored the capabilities of the tech giant’s Gemini large language model, Bank of America said. “With an improved LLM and growing AI integration benefits across products, we see [Google’s] AI assets as underappreciated,” the bank said in a note to clients.
I/O also saw the unveiling of Google AI Ultra, a new $249.99 subscription service that offers access to Google’s most advanced AI tools, including Gemini 2.5 Pro Deep Think mode for research and the AI filmmaking tool Flow. Google AI Ultra “should be competitive” with OpenAI’s $200 per month ChatGPT Pro offering, BofA analysts said. The bank maintained a price target of $200.
Meanwhile, Morgan Stanley and Citi analysts reiterated targets of $185 and $200, respectively
Bitcoin Surges to Record High Above $109,000
8 hr 47 min ago
The price of bitcoin (BTCUSD) surged to a new record high Wednesday as the digital currency extended a rally fueled by renewed investor risk appetite and optimism about a favorable regulatory backdrop.
Bitcoin jumped to nearly $109,500 this morning, surpassing its previous high of around $109,300 set in January and up from an overnight low of just under $106,000.
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The digital currency had slumped in April to around $76,000 as investors fled risky assets such as cryptocurrencies and stocks amid concerns about tariffs and their potential impact on the economic outlook. Concerns about global trade tensions have subsided, at least for now, while investors remain hopeful that the Trump administration and crypto-supportive lawmakers will implement policies that benefit the asset class.
Shares of crypto-related firms—including major bitcoin buyer Strategy (MSTR), crypto exchange Coinbase Global (COIN), and bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT)—all were higher around midday.
Vans, North Face Parent VF Sinks on Weak Sales Forecast
9 hr 26 min ago
Shares of VF Corp. (VFC) plunged Wednesday morning after the company’s current-quarter sales outlook came in well worse than estimates.
The North Face, Vans, and Timberland parent said it expects fiscal 2026 first-quarter revenue to be down 3% to 5% year-over-year, while analysts surveyed by Visible Alpha had expected it to rise 0.1%. VF Corp. also sees an adjusted operating loss of $110 million to $125 million, far wide than projections of $50.3 million.
VF Corp.’s fiscal 2025 fourth-quarter revenue came in at $2.14 billion, narrowly below estimates, while its adjusted loss per share of $0.13 was in line with forecasts.
CEO Bracken Darrell said the company is “well-positioned to navigate increased volatility in the macro environment,” and said its brands are expected to return to growth. The company said it is “accelerating production and shipments into the U.S.” while many tariffs are temporarily paused, and is also working to optimize its supply chain and “exploring strategic price actions.”
The company said less than 2% of its products come from China, with its four largest import countries being Vietnam, Bangladesh, Indonesia, and Cambodia. Some 85% of its imports come from southeast Asia, Central America, and South America.
VF shares were down 10% in recent trading, pushing the stock’s year-to-date decline to about 40%.
UnitedHealth Leads Dow Lower Again
10 hr 15 min ago
UnitedHealth Group (UNH) shares fell Wednesday after an investigation from The Guardian found that the insurer paid nursing homes to reduce hospital transfers.
The company allegedly paid under-the-table bonuses to nursing homes in order to reduce hospital transfers for residents, helping UnitedHealth lower costs,The Guardian reported.
In a statement Wednesday, UnitedHealth said the U.S. Department of Justice has “investigated these allegations, interviewed witnesses, and obtained thousands of documents that demonstrated the significant factual inaccuracies in the allegations. After reviewing all the evidence during its multi-year investigation, the Department of Justice declined to pursue the matter.”
Shares of the Dow component were down close to 5% in recent trading, after hitting a five-year low last week amid reports the Justice Department is investigating the health-care giant for possible Medicare fraud. Also last week, the company announced CEO Andrew Witty was stepping down after four years in the role and the company withdrew its full-year guidance.
Shares of UnitedHealth, which were trading near $600 in mid-April, have lost about half their value since then.
D-Wave Quantum Levels to Watch After Yesterday’s Surge
10 hr 41 min ago
D-Wave Quantum (QBTS) shares were down slightly this morning after soaring Tuesday following the release of a quantum computing system the company says can solve problems beyond the capabilities of classical computers.
The company said its Advantage2 system increases energy scale by 40% and reduces noise by 75%, which results in higher-quality outputs for solving complex calculations. The company added that the technology marks a significant milestone not just for D-Wave, but for the quantum computing industry as a whole.
D-Wave shares, which jumped 26% yesterday, have doubled since the start of the year and gained more than 1,200% over the past 12 months. The stock has been boosted by a 500% surge in the company’s first quarter revenue and expectations that quantum computing will transform a wide range of industries.
D-Wave shares have staged a decisive breakout above the top trendline of an ascending triangle this week, signaling a continuation of the stock’s strong uptrend that preceded the pattern. It’s also worth pointing out that the 50-day moving average sits on the verge of crossing above the 200-day MA to form a golden cross – a bullish chart indicator predicting higher prices.
Moreover, above-average trading volume has accompanied the recent rally, indicating buying conviction by larger market participants, such as institutional investors and hedge funds. Meanwhile, the relative strength index confirms bullish price momentum, though the indicator also flashes overbought conditions, which could lead to short-term profit taking.
Chart-based upside targets using the measured move technique and bars pattern analysis sit at $40 and $90, respectively. Investors should monitor a major support level on D-Wave’s chart around $12.
The stock was down 1.3% at $16.35 in recent trading.
Read the full technical analysis piece here.
Target Shares Slide on Lowered Full-Year Sales Forecast
11 hr 13 min ago
Target (TGT) shares fell in premarket trading Wednesday after the retail giant lowered its full-year sales projection following mixed first-quarter results.
The Minneapolis-based retailer reported quarterly adjusted earnings per share (EPS) of $1.30 on revenue that decreased nearly 3% year-over-year to $23.85 billion. Analysts had expected $1.64 and $24.34 billion, respectively, per Visible Alpha. However, Target’s GAAP EPS of $2.27, which includes the gains from litigation settlements, topped the $1.64 estimate.
Comparable sales declined by 3.8%, as a larger drop in in-store shopping offset an increase in digital sales. Analysts had projected a 1.68% drop.
“While our sales fell short of our expectations, we saw several bright spots in the quarter, including healthy digital growth,” CEO Brian Cornell said, adding that the retailer is “not satisfied with current performance and know we have opportunities to deliver faster progress on our roadmap for growth.”
The company cut its fiscal 2025 sales forecast and widened its projected profit range. The retailer now expects a low-single-digit sales decrease and EPS of $8.00 to $10.00, with adjusted EPS—excluding the Q1 gains from litigation settlements—projected from $7.00 to $9.00. Last quarter, Target said it expected roughly 1% net sales growth and EPS, both GAAP and adjusted, of $8.80 to $9.80.
Separately Wednesday, Target announced the creation of a “Enterprise Acceleration Office,” led by COO Michael Fiddelke. The retailer said the effort is designed to “improve how functions work together to advance key priorities, ranging from simplifying cross-company processes to using technology and data in new ways to power the team.”
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Target shares were down 6% in recent trading. The stock has lost about a third of its value since the start of the year.
Major Stock Index Futures Move Lower
12 hr 24 min ago
Futures tied to the Dow Jones Industrial Average were down 0.7%.
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S&P 500 futures were off 0.5%.
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Nasdaq 100 futures also fell 0.5%.
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