By Joe Woelfel and George Glover

Stocks rose Wednesday ahead of the Federal Reserve's latest decision on interest rates and a slew of earnings from Big Tech.

These stocks were moving Wednesday:

Nvidia rose 4.6% and surpassed a valuation of $5 trillion, the first company to hit the milestone. It has been just 78 trading days since Nvidia hit $4 trillion. Driving gains were comments from President Donald Trump that he may discuss the company's advanced Blackwell chips with Chinese President Xi Jinping when the two leaders meet Thursday, and after CEO Jensen Huang said Nvidia now has visibility on more than $500 billion of cumulative revenue for its current Blackwell AI chips and future Rubin chips through 2026.

Micron Technology gained 2.4% after its larger rival in the memory chip space, South Korea's SK Hynix, forecast a " supercycle" of demand powered by the boom in artificial-intelligence investments.

Shares of Microsoft fell 0.5% after gaining 2% on Tuesday to a record $542.07 and closing with a market capitalization of $4.03 trillion, the first time the software giant's market value finished a session greater than $4 trillion. On Tuesday, OpenAI's for-profit arm finalized its conversion into a public-benefit corporation that will see Microsoft take a 27% stake in the maker of ChatGPT. The position was valued at about $135 billion.

The software giant, the second-most valuable U.S corporation, is scheduled to report fiscal first-quarter earnings after the closing bell.

Joining Microsoft Wednesday on the earnings docket are Google parent Alphabet, which rose 0.4% ahead of its third-quarter earnings report scheduled for after Wall Street closes Wednesday, and Meta Platforms, the owner of Facebook and Instagram, which slipped 0.4% ahead of the release of its quarterly numbers.

Earnings reports are also expected after the closing bell Wednesday from ServiceNow, KLA Corp., Carvana, Starbucks, Chipotle Mexican Grill, and eBay.

Centene rose 6.9% after the health insurer posted third-quarter adjusted earnings of 50 cents a share, better than expectations for a loss of 14 cents. Revenue of $49.69 billion beat Wall Street estimates of $47.72 billion.

CVS Health rose 2.4%. The health insurer posted third-quarter adjusted earnings and total revenue that topped analysts' expectations. However, CVS Health swung to a net loss as it posted a $5.7 billion charge goodwill impairment charge tied to to its senior clinics business, which it bought in 2023.

Caterpillar jumped 12% after the maker of heavy construction equipment reported better-than-expected-third quarter earnings and revenue.

Verizon Communications rose 1.8%. The wireless carrier beat third-quarter earnings estimates, missed on revenue, and promised to make big changes to its business under new CEO Dan Schulman.

Seagate Technology rose 16% after the data storage company topped Wall Street earnings estimates in its fiscal first quarter and forecast that its profit and revenue for the current second quarter also would top expectations.

Fiserv tumbled 43% after the financial-technology company said it expects fiscal-year adjusted earnings of $8.50 to $8.60 a share, down from its previous outlook of $10.15 to $10.30. Analysts had been calling for adjusted earnings of $10.15 a share. The company said it expects 2025 organic revenue growth of 3.5 to 4%. Fiserv also named co-presidents, and a new finance chief.

Generac fell 7.3% after the backup generator maker cut its outlook for the year. The company expects flat sales in 2025; prior guidance called for growth of 2% to 5%.

Bloom Energy jumped 22% after posting third-quarter adjusted profit of 15 cents a share, beating analysts' expectations of 10 cents. Revenue of $519 million outpaced expectations for $428 million. Bloom Energy shares have risen more than 400% in 2025, largely on expectations that it will play a role in providing power for AI data centers.

Enphase Energy fell 13% after the maker of solar-power inverters said its third-quarter profit and revenue rose from a year ago, issued fourth-quarter revenue guidance that missed analysts' expectations.

Teradyne shares jumped 17% after the automatic test equipment designer said it expects a 27% jump in sales in the fourth quarter as "AI-related test demand remains robust across compute, networking and memory segments."

Stride plunged 47% after the online education company's revenue guidance for its fiscal second quarter and fiscal year missed analysts' forecasts. Company executives said on a call with analysts that investments in third-party platforms to upgrade its online learning platform didn't go as smoothly as expected, Dow Jones Newswires reported. That and other factors led to about 10,000 to 15,000 fewer enrollments.

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

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 29, 2025 10:04 ET (14:04 GMT)

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