Top Stock Movers Now: Nvidia, HP, Best Buy, and More

U.S. equities were mixed at midday, dropping from their morning highs after a federal trade court blocked some of President Donald Trump’s tariffs. The S&P 500 and Nasdaq were up, the Dow Jones Industrial Average fell. 

Nvidia (NVDA) shares advanced as the tech giant beat profit and sales estimates and said it sees growth in demand for its artificial intelligence (AI) chips continuing.

Shares of another AI firm, C3.ai (AI), skyrocketed when the software company reported better-than-expected results on higher demand for generative AI products, and renewed its contract with oilfield services provider Baker Hughes (BKR).

E.l.f. Beauty (ELF) shares took off when the beauty products maker also posted better-than-anticipated earnings and revenue, and announced that it had purchased the rhode skin care firm founded by model and socialite Hailey Bieber for up to $1 billion.

HP (HPQ) shares sank after the PC and printer manufacturer’s profit and sales missed forecasts, and it reduced its guidance because of the impact of tariffs.

Also cutting its outlook because of tariffs was Best Buy (BBY), and shares of the electronics retailer tumbled. Starbucks (SBUX) shares fell on a downgrade from TD Cowen, which raised concerns about the coffee chain’s profit expectations.

Oil futures slipped. Gold prices gained. The yield on the 10-year Treasury note was down. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher.