By George Glover, Joe Woelfel, and Kit Norton
Stocks fell Thursday as both bond yields and oil prices rose amid pessimism that talks between the U.S. and Iran will lead to a resolution. The concern over the situation in the Middle East overshadowed Nvidia's better-than-expected earnings.
These stocks were making moves:
Nvidia fell 1.9% after the artificial-intelligence chip maker topped analysts' expectations for first-quarter earnings and revenue. Nvidia expects $91 billion in revenue for the current quarter, well above Wall Street's target.
Quantum stocks rose after the U.S. Commerce Department confirmed it planned to award funding to nearly a dozen companies to foster the development of the domestic quantum industry. IonQ and Rigetti Computing advanced 12% and 25%, respectively. D-Wave Quantum surged 26% and Infleqtion soared 30%.
International Business Machines gained 7.6%. IBM announced it would create a new, standalone company called Anderon, styling it as "America's first pure-play quantum foundry." IBM and the Commerce Department each will contribute $1 billion of cash into Anderon, with IBM contributing "significant intellectual property, assets, and a skilled workforce."
GlobalFoundries jumped 12%. The semiconductor manufacturer also is moving into the quantum space, unveiling Thursday a business called Quantum Technology Solutions backed by a prospective $375 million award from the U.S. government.
Walmart fell 7.6% as the retail giant's weak guidance gave investors pause despite higher-than-expected fiscal first-quarter revenue.
Nebius surged 16%. Bloom Energy will provide electricity to the artificial-intelligence cloud provider, with 328 megawatts of installed capacity expected to be operational this year. Nebius will pay up to $2.6 billion over the term of the agreement, which is expected to come on in three phases, each with a supply term of 10 years. Bloom Energy stock rose 11%.
Rocket Lab declined 4% as the launch-and-satellite company came under pressure after Elon Musk's SpaceX filed a prospectus for a stock offering. Fellow space-related stocks Virgin Galactic and AST SpaceMobile moved higher.
Spotify gained 15%. The music streamer held its investor day event Thursday, outlining long-term revenue growth expectations and unveiling several new programs for premium subscribers.
Intuit tumbled 20%. The financial software developer said it would reduce its full-time workforce by 17%, although CEO Sasan Goodarzi told Barron's that AI "had no bearing" on the layoffs. The job cuts overshadowed better-than-expected earnings from Intuit in its fiscal third quarter.
Ralph Lauren gained 12% and was leading the S&P 500 in the trading session. The luxury retailer reported better-than-expected fiscal fourth-quarter earnings and issued solid fiscal 2027 revenue guidance.
Deere sank 5.4%. The agriculture-equipment maker reported sales and revenue in its fiscal second quarter rose 5% to $13.37 billion, topping analysts' estimates, and earnings of $6.55 a share fell from a year earlier but were better than estimates of $5.70.
Applied Digital soared 20%. The data center builder and operator announced late Wednesday it has entered into a new 15-year lease agreement with a U.S. hyperscaler for the unnamed company's fourth AI factory campus.
Write to George Glover at george.glover@dowjones.com and Kit Norton at kit.norton@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
May 21, 2026 13:01 ET (17:01 GMT)
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