Top Stock Movers Now: Nvidia, BlackBerry, Paychex, and more
U.S. stocks were mixed at midday as investors reacted to easing geopolitical tensions in the Middle East. A ceasefire between Israel and Iran appeared to be holding, boosting investor confidence. The S&P 500 and Nasdaq gained ground, while the Dow Jones Industrial Average edged lower.
Key Points:
- S&P 500 and Nasdaq rose, Dow slipped as Middle East tensions eased.
- Nvidia surged after Loop Capital predicted a $6 trillion market cap.
- Paychex dropped on disappointing revenue; Tesla fell on weak EU sales.
- BlackBerry and Yum! Brands gained on strong earnings and upgrades.
- Oil, gold, and Treasury yields rose; crypto and currency markets were mixed.
Nvidia (NVDA) shares were headed for a record high after Loop Capital raised its price target, forecasting that strong AI demand could eventually push its market cap to $6 trillion. Yum! Brands (YUM) rose after JPMorgan upgraded the stock, citing solid free cash flow across its Taco Bell, KFC, and Pizza Hut chains. BlackBerry (BB) soared following better-than-expected earnings and strong demand for its QNX automotive software.
Meanwhile, Paychex (PAYX) dropped sharply after missing revenue estimates, hurt by reliance on newly acquired software firm Paycor. Winnebago (WGO) also declined due to weak results and a lowered outlook amid softening RV demand. Tesla (TSLA) fell for a fifth straight month in Europe, reflecting slumping EV sales. Commodity markets saw oil and gold prices rise, Treasury yields climbed, and currency and crypto trading showed mixed trends.