These Stocks Are Moving the Most Today: Tesla, CoreWeave, Nvidia, Charles Schwab, nCino, Meta, and More -- Barrons.com

Dow Jones
04-02

By Joe Woelfel

Stock futures traded lower Wednesday ahead of an announcement on tariffs in what President Donald Trump has dubbed "Liberation Day." The White House said Trump will unveil the tariffs on U.S. trading partners at 4 p.m. on Wednesday.

These stocks were poised to make moves in Wednesday's session:

Tesla declined 2.6% ahead of the release of first-quarter deliveries from the electric-vehicle company. Analysts expect Tesla to post deliveries of about 380,000 vehicles, down from 387,000 a year earlier. A few months ago, analysts projected Tesla would deliver as many as 470,000 cars. Estimates have been revised lower amid weak sales in the U.S. and Europe and on concerns that CEO Elon Musk's political activities have been turning off buyers.

Shares of CoreWeave, the artificial-intelligence cloud company, were falling 1.3% in premarket trading. The stock has been volatile since it began trading Friday, ending flat on the day of its debut, falling 7.3% on Monday, and closing Tuesday with a gain of 42%. CoreWeave has close ties to Nvidia, its main supplier, second-largest customer, and an investor. Some investors see Nvidia as a source of support for the stock.

Nvidia, meanwhile, fell 1.7% in the premarket session. Shares rose 1.6% on Tuesday to break a five-session losing streak. Nvidia, the leading maker of artificial-intelligence chips, has been declining along with the broader market ahead of Trump's tariffs announcement. It remains unclear whether the president will announce any sector-specific duties -- including on chips.

Meta Platforms was down 0.9% after Joelle Pineau, the company's head of artificial-intelligence research, said she would be leaving the parent company of Facebook and Instagram in May. She led the department for eight years. Pineau's departure comes just as the company draws closer to cashing in on its AI systems.

NCino was tumbling 34% after the cloud-based software company reported fiscal fourth-quarter adjusted earnings of 12 cents a share, below analysts' estimates of 19 cents, and issued profit and revenue guidance for the current fiscal year that also missed expectations.

Newsmax declined 21% in the premarket session. The conservative-leaning media company rose 179% on Tuesday after soaring 735% in the stock's trading debut on Monday.

Charles Schwab rose 1.5% to $78.80 after the wealth management company was upgraded to Buy from Neutral at Citi and the price target was boosted to $102 from $82. Citi said it sees "potential for an improving" net new assets story as Schwab "shifts to offense with the [Ameritrade] integrations over and investment spending to accelerate growth ramps."

BlackBerry was down 2.1%. The Canadian software company reported fourth-quarter adjusted earnings of 3 cents a share, better than analysts' estimates for break-even profit, on revenue of $141.7 million.

Earnings reports are expected later Wednesday from RH and Penguin Solutions.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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April 02, 2025 07:23 ET (11:23 GMT)

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