Top Midday Stories: Deere Shares Fall on Weak Guidance; ByteDance is Nvidia's Top Chinese Customer This Year

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All three major US stock indexes rose in late-morning trading Wednesday with Wall Street poised for a strong finish ahead of the Thanksgiving holiday.

In company news, Deere (DE) reported fiscal Q4 earnings fell to $3.93 per diluted share, from $4.55 a year earlier, still topping the FactSet consensus analyst estimate of $3.89. Net sales rose to $10.6 billion from $9.3 billion, exceeding the consensus of $9.83 billion. For fiscal 2026, the company projects net income of $4 billion to $4.75 billion, trailing the consensus of $5.11 billion. Deere shares fell 5% around midday.

ByteDance bought more Nvidia (NVDA) chips than any other Chinese company this year, The Information reported Wednesday, citing three sources with direct knowledge of the purchases. The TikTok owner has been hoarding chips due to concerns that the US government may cut off its supply, the report said. Nvidia shares rose 1.9%.

Workday (WDAY) reported late Tuesday that fiscal Q3 non-GAAP net income rose to $2.32 per diluted share from $1.89 a year earlier, topping the consensus of $2.17. Revenue climbed to $2.43 billion from $2.16 billion, exceeding the consensus of $2.42 billion. Workday shares fell 10%.

Autodesk (ADSK) reported late Tuesday that fiscal Q3 adjusted earnings rose to $2.67 per diluted share from $2.17 a year earlier, topping the consensus of $2.50. Q3 revenue climbed to $1.85 billion from $1.57 billion, exceeding expectations of $1.81 billion. The company expects fiscal Q4 adjusted EPS of $2.59 to $2.67 on revenue of $1.9 billion to $1.92 billion. Analysts project EPS of $2.53 on revenue of $1.86 billion. Autodesk raised its full-year adjusted EPS guidance to a range of $10.18 to $10.25 on revenue of $7.15 billion to $7.17 billion. The previous guidance was EPS of $9.80 to $9.98 on revenue of $7.03 billion to $7.08 billion. Analysts expect EPS of $9.95 on revenue of $7.07 billion. Autodesk shares rose 2.8%.

Zscaler (ZS) reported late Tuesday that fiscal Q1 adjusted earnings rose to $0.96 per diluted share from $0.77 a year earlier, topping the consensus of $0.86. Revenue climbed to $788.1 million from $628.0 million, exceeding the consensus of $773.3 million. The company expects fiscal Q2 adjusted EPS of $0.89 to $0.90 on revenue of $797 million to $799 million. Analysts project EPS of $0.89 on revenue of $795.8 million. Zscaler boosted fiscal 2026 adjusted EPS guidance to $3.78 to $3.82 on revenue of $3.28 billion to $3.3 billion. The previous guidance was EPS of $3.64 to $3.68 on revenue of $3.27 billion to $3.28 billion. Analysts project EPS of $3.65 on revenue of $3.27 billion. Zscaler shares fell 9.9%.

Price: 473.25, Change: -24.88, Percent Change: -4.99

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