Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA)
fell 7.4% in the morning session after the company announced it might be unable to sell some high-end chips (including the H20 chips) to China due to export controls and requirements from the Trump administration. Notably, Nvidia received an export restriction notice on April 9, 2025, suggesting the development was unanticipated heading into the quarter and likely not baked into its near-term sales forecast.
Shares of healthcare product and device company Abbott Laboratories (NYSE:ABT)
jumped 5.4% in the morning session after the company reported decent first-quarter 2025 results with revenue in line, although its organic revenue fell slightly short of Wall Street's estimates. EPS in the quarter beat slightly, while full-year EPS guidance met expectations. The full-year sales outlook was also maintained, which was encouraging despite the uncertain macro backdrop.
Shares of computer processor maker AMD (NASDAQ:AMD)
fell 7.6% in the pre-market session after chip tool maker ASML posted weak bookings (a key demand indicator) which fell below Wall Street's expectations, noting that tariffs had made the industry's outlook more uncertain.
Shares of discount grocery store chain Grocery Outlet (NASDAQ:GO)
jumped 7.1% in the morning session after Jefferies upgraded the stock's rating from Neutral to Buy. The firm added, "We upgrade GO to BUY, given our view that the company's defensive positioning as a low-price grocer could drive outperformance during periods of economic uncertainty."
Shares of global car rental company Hertz (NASDAQ:HTZ)
jumped 28.6% in the pre-market session after Pershing Square Holdings, led by activist investor Bill Ackman, disclosed a $46.5 million stake in the company. This translated to more than 12.7 million shares. This development is noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
Let's take a look at the S&P500 stocks that are experiencing notable price gaps in today's session on Wednesday. Discover the gap up and gap down stocks in the S&P500 index.
Wells Fargo is one of the largest financial institutions in the United States, offering a wide range of services including consumer banking, commercial lending, wealth management, and investment banking.
U.S. major indices traded lower at midday Wednesday, pressured by sharp declines in tech and semiconductor stocks after Washington tightened chip export restrictions to China.
HR+ metastatic breast cancer patients treated with Bria-IMT plus check point inhibitors had a median overall survival of 17.3 months, exceeding the 14.4 months with Trodelvy in similar heavily pre-treated patients, the company said.
In a surprise move on Wednesday morning, Trump announced on Truth Social that he would join the meeting and expand the agenda to include military cost-sharing and what he called “trade fairness.”
