By George Glover, Nate Wolf, and Kit Norton
Stocks slid Tuesday as U.S. inflation picked up faster than expected, hitting its highest level in three years, in April. Investors also fretted over the stalemate between the U.S. and Iran in their conflict.
These stocks were making moves:
Zebra Technologies surged 18% to lead the S&P 500 as the maker of automation technology reported better-than-expected first-quarter earnings and raised its outlook for 2026 on "continued momentum."
Intel sank 8.7% and Micron Technology fell 8.4% as investors opted to lock in profits following a breakneck rally in chip stocks.
Qualcomm slipped 13% to $206.38, making it the worst performer in the S&P 500. The decline came a day after the chip stock surged 8.4% to $237.53, notching its first record closing high since June 18, 2024. Long viewed primarily through the lens of smartphones, Qualcomm is currently demonstrating broader earnings power across automotive, the internet of things, and AI-driven applications.
Nvidia dropped 0.8%. CEO Jensen Huang won't be among the business leaders accompanying President Donald Trump on this week's visit to China, according to reports. It might be a sign that the White House is giving up on hopes of opening up the Chinese market for U.S. chip companies. Shares closed up 2% at $219.44 on Monday, setting a record close.
Hims & Hers Health sank 13% after the telehealth provider reported a surprise first-quarter loss. Hims is losing its edge as major drugmakers seek to reclaim the market share that the telehealth provider gained during a shortage of GLP-1 weight loss medications.
GitLab dropped 6.9% after the software company said it would begin a restructuring process and cut jobs. GitLab reaffirmed its first-quarter and full-year financial guidance.
AST SpaceMobile tumbled 13% after the satellite manufacturer posted a wider loss than analysts were expecting for the first quarter. Expectations were high, with shares up 212% over the past year through Monday's close.
GameStop fell 1.9% after eBay rejected the smaller retailer's $56 billion takeover bid, describing the proposal as "neither credible nor attractive." EBay stock edged up 0.4%.
D-Wave Quantum fell 9%. The quantum-computing company reported an 81% drop in quarterly revenue but a massive surge in future orders, fueled by a recent $20 million system purchase by Florida Atlantic University.
Quantum Computing jumped 13% to $11.44 but was well off session highs. The company, known as QCi, posted $3.69 million in first-quarter revenue, outstripping the $3.13 million consensus among analysts polled by FactSet. The figure was sharply higher than the $39,000 reported in the same period last year.
Venture Global jumped 13% after the liquified natural gas, or LNG, producer reported a 59% year over year surge in revenue in the first quarter. U.S. exporters have benefited from the Iran war, which has disrupted the Middle East's LNG supply.
ZoomInfo Technologies plunged 34% after the artificial-intelligence data-scraping company cut its full-year revenue forecast. Shares were down 41% in 2026 through Monday's close.
Plug Power surged early before paring those gains. It was last up 1.9% at $3.58. The hydrogen technology production company posted better-than-expected first-quarter revenue.
Write to George Glover at george.glover@dowjones.com, Nate Wolf at nate.wolf@barrons.com and Kit Norton at kit.norton@barrons.com
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(END) Dow Jones Newswires
May 12, 2026 12:31 ET (16:31 GMT)
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