DJ These Stocks Are Moving the Most Today: Alphabet, Super Micro, Marvell, Disney, Uber, Arista, Sarepta, Charles River, and More -- Barrons.com
12:11 PM ET 5/7/25 | Dow Jones
By Joe Woelfel
Stocks turned mixed Wednesday as the U.S. and China planned trade negotiations and as Wall Street awaited the Federal Reserve's policy decision on interest rates later in the session. Economists widely expect the U.S. central bank to hold steady on rates.
These stocks were moving Wednesday:
Alphabet was falling 7.5% after Bloomberg reported that Eddy Cue, Apple's senior vice president of services, said he expected artificial-intelligence search providers would one day take market share away from traditional search engines like Google. Cue, testifying in a Department of Justice lawsuit against Google, said searches in Apple browsers fell for the first time as people turn to AI for their search queries, Bloomberg reported. Apple, down 1.8%, uses Google as its default search partner.
Advanced Micro Devices reported first-quarter adjusted earnings and revenue that topped analysts' expectations. Data-center revenue rose 57% from a year earlier. The chip maker said it expects second-quarter revenue at $7.4 billion, plus or minus $300 million, versus Wall Street forecasts of $7.2 billion. "Despite the dynamic macro and regulatory environment, our first-quarter results and second-quarter outlook highlight the strength of our differentiated product portfolio and consistent execution positioning us well for strong growth in 2025," said AMD CEO Lisa Su. The stock rose 0.7%.
Super Micro Computer was down 6.2% after the AI server maker issued fiscal fourth-quarter guidance that was shy of analysts' estimates. Super Micro also reported fiscal third-quarter revenue of $4.6 billion, shy of consensus of $5.05 billion. "Some customers delayed making platform decisions in the quarter," said CEO Charles Liang, adding he expects commitments in the quarters ending in June and September, but "economic uncertainty and tariff impacts may have a short-term impact."
Marvell Technology dropped 11% after postponing its investor day because of market uncertainty. The designer of data-storage and networking chips said it postponed its previously scheduled investor day event from June 10 to an unspecified future date in 2026, citing "the dynamic macroeconomic environment.
Walt Disney reported fiscal second-quarter adjusted earnings of $1.45 a share, beating Wall Street estimates of $1.19, and said it expects fiscal 2025 adjusted profit of $5.75 share, better than consensus of $5.43. Revenue for Disney's experiences segment, which includes its theme parks, rose 6% in the second quarter from a year earlier to $8.9 billion, and beat estimates of $8.7 billion. The stock jumped 11%.
Uber Technologies swung to a profit in the first quarter of 83 cents a share from a year earlier loss of 32 cents, as revenue jumped 17% to $11.53 billion but missed forecasts of $11.63 billion. Uber, the ride-hailing service, said trips in the quarter rose 18% to 3 billion, while gross bookings rose 14% to $42.8 billion. Shares fell 3.3%.
U.S.-listed shares of Novo Nordisk rose 2% after the Danish pharmaceutical company posted better-than-expected first-quarter earnings but reduced its guidance for the year, saying it cut its outlook "due to lower-than-planned branded GLP-1 penetration, which is impacted by the rapid expansion of compounding in the U.S.."
First-quarter earnings and revenue at Arista Networks topped Wall Street estimates but shares fell 6.9% after the networking equipment company said adjusted gross margin and operating margin may decline in the second quarter.
Rivian Automotive, the electric-vehicle maker, reported a first-quarter gross profit of $206 million on sales of $1.2 billion, topping analysts' expectations, but expects vehicle deliveries for the year between 40,000 and 46,000, down from a prior range between 46,000 and 51,000. Rivian said it wasn't "immune to the impacts of the global trade and economic environment," namely trade policies and tariffs. Rivian shares fell 3.1%.
Fellow EV maker Lucid Group was down 3% after posting a narrower-than-expected adjusted loss in the first quarter but revenue of $235 million that was shy of estimates of $247.6 million. The company delivered 3,109 vehicles in the quarter, up 58% from a year earlier. Lucid maintained that it would make about 20,000 vehicles this year.
The largest U.S. maker of electric vehicles, Tesla, slipped 0.8% following results from Rivian and Lucid.
Electronic Arts reported fiscal fourth-quarter earnings that rose from a year earlier as revenue jumped 6.5% to $1.9 billion. The videogame developer said it expects fiscal 2026 revenue of $7.1 billion to $7.5 billion, with the release of a new title in its Battlefield franchise helping to boost sales. EA was up 0.5%.
Sarepta Therapeutics cut its full-year outlook, sending the stock down 20%. The company expects total net product revenue of $2.3 billion to $2.6 billion for the year, down from a prior forecast of $2.9 billion to $3.1 billion. Sarepta said the broader biotech market has been facing significant pressures.
Upstart Holdings tumbled 11%. The artificial-intelligence lending platform said it expects second-quarter revenue of about $225 million, below analysts' estimates of $226.2 million, and an adjusted loss of about $25 million.
Charles River Laboratories rose 16% after first-quarter adjusted earnings topped analysts' estimates, the company boosted its full-year outlook, and said it entered a "cooperation" agreement with activist Elliott Investment Management and would conduct a "comprehensive strategic review and evaluation" of its "business and prospects."
Earnings reports are expected after the closing bell Wednesday from AppLovin, Arm Holdings, Carvana, Occidental Petroleum, and Fortinet.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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