Top Stock Movers – May 29, 2025
U.S. markets lost early momentum by midday, with the major indexes turning mixed after a federal trade court ruled against certain tariffs imposed during the Trump administration. The S&P 500 and Nasdaq held on to modest gains, while the Dow Jones Industrial Average edged lower.
Big Tech in Focus
Nvidia (NVDA) surged after the chipmaker delivered earnings that beat Wall Street forecasts and issued a strong outlook for continued demand in artificial intelligence (AI). Investors cheered the results, which underscore Nvidia’s dominant position in the AI hardware market.
Fellow AI firm C3.ai (AI) also saw its shares jump sharply. The company topped earnings expectations, citing increased adoption of generative AI solutions, and extended its partnership with energy services giant Baker Hughes (BKR).
Consumer Sector on the Move
Shares of E.l.f. Beauty (ELF) soared as the cosmetics brand reported stronger-than-expected earnings and confirmed the acquisition of skincare company Rhode, founded by Hailey Bieber, in a deal worth up to $1 billion.
On the downside, HP (HPQ) slumped after posting weaker-than-expected results. The PC and printer maker blamed tariffs for the earnings miss and lowered its forward guidance.
Best Buy (BBY) joined HP in warning about tariff impacts. The electronics retailer cut its outlook, sending shares lower. Meanwhile, Starbucks (SBUX) declined following a downgrade from TD Cowen, which flagged concerns about the coffee chain’s profitability.
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