Closing Bell Movers: Nvidia gains 4% on earnings, lifting other semis

In the opening hour of the evening session, U. S. equity futures are gaining following a Q1 earnings and revenue beat, and while the company guided Q2 cautiously, investors are also latching on to commentary that the Blackwell AI supercomputer is now in full-scale production along with the indication that the global demand for  AI infrastructure remains “incredibly strong”.  S&P 500 is up 0.6% above 5,940, Nasdaq 100 is up nearly 1% above 21,570, and Dow Industrials is up 0.3%.  Nvidia shares are gaining over 4% to highest levels since late February while also lifting other semiconductor names.

Sentiment had turned more cautious today heading into the close, though it was the defensively-oriented Utilities that led S&P 500 to the downside, with a “patient” tone gleaned out of the Fed minutes lifting U.S. treasury yields and dampening demand for the higher-dividend sectors.

In commodities, Gold futures were a touch firmer above $3,300 per ounce.  In energy, WTI Crude Oil is tracking risk-on flows with a second consecutive higher open as traders also take notice of a large draw in API Petroleum inventory data signifying solid demand.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Veeva (VEEV) up 15.3%
• C3.ai, Inc. (AI) up 12.7%
• Agilent Technologies (A) up 4.7%
• Nvidia (NVDA) up 4.3%;  Semiconductors rally in sympathy: Credo Technology (CRDO), Broadcom (AVGO) up 2.7%, CoreWeave (CRWV) up 2.6%, AMD (AMD) up 1.3%, ARM Holdings (ARM) 
• Snyposys (SNPS) up 3.2%
• Elf Beauty (ELF) up 2.6%
• Salesforce (CRM) up 1.0%

ALSO HIGHER –

• ORIC Pharmaceuticals (ORIC) up 21.1% after preliminary efficacy, safety data from ORIC-944 

DOWN AFTER EARNINGS –

• HP Inc (HPQ) down 12.3%
• SentinelOne (S) down 12.3%
• Pure Storage (PSTG) down 3.4%

ALSO LOWER –

• Intellia Therapeutics (NTLA) down 19.5% after update on Phase 3 study of nex-z for ATTR-CM