S&P 500 Closes at Record High as Stocks Tick Higher Ahead of Nvidia’s Earnings Report

Biggest S&P 500 Movers on Wednesday

13 minutes ago

Advancers

• Shares of Albemarle (ALB), the world’s largest lithium producer, jumped 7.5% to secure the S&P 500’s top daily performance. The move higher came a day after UBS upgraded Albemarle to “neutral” from “sell” and lifted its price target on the stock. Analysts cited an improving outlook for lithium prices in 2026 following recent production cutbacks in China. Albemarle and other lithium producers have been cutting costs and scaling back expansion plans as they navigate a prolonged slump in the price of the key battery component.
• An upgrade from UBS also helped shares of casino operators. Analysts at the firm raised their view on Wynn Macau, a subsidiary of Wynn Resorts (WYNN) operating in the Asian gaming hotspot, to “buy” from “neutral.” UBS highlighted improved growth forecasts for Macau’s gross gaming revenue and suggested that high-end operators like Wynn are likely to sustain or increase their market share in the special administrative region. Wynn Resorts shares gained 3.5%, while shares of fellow Macau-exposed gaming companies MGM Resorts International (MGM) and Caesars Entertainment (CZR) were also up more than 3%.
• Database software firm MongoDB (MDB) reported better-than-expected sales and profits for its fiscal second quarter and increased its full-year outlook, and its shares skyrocketed roughly 38%. Strong customer additions and subscription revenue growth underpinned the company’s performance. The report helped boost the shares of other database software firms, including those of service analytics specialist Datadog (DDOG), which advanced 4.3%.

Decliners

• Paramount Skydance (PSKY) shares dropped 6.5%, falling the most of any S&P 500 constituent on Wednesday. The stock has seen significant volatility since the completion of the merger between Skydance Media and Paramount Global earlier this month. The latest move lower came after Morgan Stanley trimmed its price target on Paramount Skydance stock, citing a steep valuation and muted growth expectations for adjusted operating income.
• BofA Securities analysts downgraded SBA Communications (SBAC) to “neutral” from “buy” and cut their price target on shares of the wireless infrastructure real estate investment trust. The downgrade came after DISH TV operator EchoStar (SATS) said that it sold 50 megahertz of its nationwide low- and mid-band spectrum allocations to AT&T (T). Analysts believe the move suggests that AT&T could scale back its network densification efforts, which would have a negative impact on SBAC’s business. SBAC shares lost 4.9% on Wednesday.
• Shares of J.M. Smucker (SJM) sank 4.4% after the food and beverage manufacturer reported a loss for its fiscal first quarter. The company said tariff-related pressure on its U.S. retail coffee division—home to the Folgers, Dunkin’, and Café Bustelo brands—weighed on its performance. An executive said Smucker is planning addition price hikes for its coffee products later this year. A 50% tariff imposed by the Trump administration on certain imports from Brazil, the world’s largest coffee producer, took effect earlier this month.

–Michael Bromberg

Nvidia Results Come in Slightly Above Street Expectations

1 hr 56 min ago

Nvidia (NVDA) reported quarterly earnings just slightly ahead of Wall Street analysts’ expectations, as its sales climbed to a record high. 

The AI chipmaker posted adjusted earnings of $1.05 per share on revenue that soared 56% year-over-year to a record $46.74 billion in the fiscal second quarter. Nvidia’s quarterly sales and earnings were just above analysts’ estimates compiled by Visible Alpha. (Investopedia’s live coverage of the results is here.)

The company’s data center sales, which comprise the bulk of its revenue, climbed to a record $41.1 billion, though that figure slightly missed Street projections.

Nvidia said its results were boosted by the release of $180 million tied to sales of inventory of its H20 chips, which were prohibited in China during the quarter by the Trump administration’s export controls, to a customer outside China. CEO Jensen Huang had warned ahead of the results that it could take a hit to the tune $8 billion from H20 curbs. The chipmaker said that without its sales of previously reserved H20 chips outside of China, it would have reported EPS of $1.04.

Nvidia projected third-quarter revenue of $54 billion, plus or minus 2%, which would be a another record high. However, that doesn’t take into account potential H20 sales to China, which are allowed to resume, thanks to a recent 15% revenue-sharing agreement with the Trump administration. Wall Street analysts had called for revenue of $53.8 billion.

The chipmaker also approved an additional $60 billion in stock buybacks.

Nvidia shares were down more than 2% in recent after-hours trading. The stock was up 35% in 2025 through Wednesday’s close.

Canada Goose Stock Jumps on Reported Take-Private Offers

2 hr 59 min ago

Shares of Canada Goose Holdings (GOOS) surged 16% Wednesday following a report that controlling shareholder Bain Capital has received takeover bids valuing the maker of high-end winter jackets at around $1.35 billion.

Citing people familiar with the matter, CNBC reported that Bain Capital is looking to sell its stake in Canada Goose, with existing offers set to take the New York- and Toronto-listed company private.

The report said that private-equity firms Boyu Capital and Advent International “have made verbal offers” that value Canada Goose at eight times its 12-month average EBITDA, which translates into a valuation of about $1.35 billion. Other interested buyers include Shanghai-based down jacket maker Bosideng International and a consortium set up by private-equity firm FountainVest Capital and Anta Sports Product, CNBC added.

As of March 30, Bain controlled around 55.5% of the combined voting power of Canada Goose, according to a regulatory filing.

Canada Goose shares rose more than 3% Tuesday after Baird analysts upgraded the stock to “outperform” from “neutral” and their price target to C$24 from C$18 on the company’s “improved product, merchandising focus, and marketing investment have spurred better brand momentum.”

The stock has gained about 40% since the start of the year.

–Nisha Gopalan

Morgan Stanley Likes These Restaurant Stocks

4 hr 25 min ago

Morgan Stanley has put out a warning about some companies in the restaurant sector.

In a note to clients, the analysts said that second-quarter earnings reports below estimates and weak industry data in the summer “suggest sentiment, policy actions, immigration, maybe shift to goods are impacting demand.”

Morgan Stanley pointed out that higher food costs, especially beef, affected profits. 

The analysts said a bright spot was fast-casual restaurants, and they continue to like Wingstop (WING) and Chipotle Mexican Grill (CMG) into next year. They added that CAVA Group (CAVA) and Shake Shack (SHAK) “perhaps garner more attention post resets.”

Morgan Stanley also noted that McDonald’s (MCD) is reducing prices, and that’s putting the fast-food giant in a strong position in the “next phase of value wars,” and squeezing Burger King owner Restaurant Brands International (QSR)

–Bill McColl

Smucker Stock Drops as Tariffs Ding Coffee Results

5 hr 4 min ago

Shares in The J.M. Smucker Co. (SJM) fell Wednesday after the food-and-beverage company posted a first-quarter loss, as the Trump administration’s tariffs hit its coffee division.

The Orrville, Ohio-based company said profit at its U.S. retail coffee division, which owns Folgers coffee as well as the Dunkin’ and Café Bustelo brands, fell by 22% as “higher commodity costs, unfavorable volume/mix, and higher marketing spend,” offset the higher prices it charged for coffee.

A Smucker executive said on the earnings call Wednesday that additional price increases are planned “in the early winter associated with the increased tariff rates” the company is experiencing, according to an AlphaSense transcript. The 50% tariff imposed by President Donald Trump on some imports from Brazil—among the largest coffee producers in the world—took effect earlier this month.

The company’s first-quarter results lagged analysts’ estimates. It posted a first-quarter GAAP net loss of $0.41 per share versus a $1.74 earnings per share (EPS) number the same period last year. Analysts polled by Visible Alpha had projected $1.42. Its first-quarter revenue dropped 1% year-over-year at $2.11 billion, below estimates of $2.12 billion.

The company, whose products also include pet foods and Jif peanut butter, also raised its full-year sales growth guidance to between 3% and 5%, versus 2% to 4% previously. It reaffirmed its previous adjusted EPS guidance of $8.50 to $9.50 a share. The outlook was in line with estimates of a 3.2% increase in sales and a $9.24 adjusted EPS for the full year.

“The Company continues to operate in a dynamic and evolving external environment, including tariffs and related trade impacts, regulatory and policy changes, ongoing input inflation, and changes in consumer behaviors that could impact its fiscal year 2026 outlook,” it said. 

Smucker shares were down 5% in recent trading, pushing the stock into negative territory year-to-date.

–Nisha Gopalan

Kohl’s Stock Jumps as Profit, Outlook Top Expectations

6 hr 41 min ago

Kohl’s (KSS) shares soared Wednesday after the struggling retailer posted second-quarter profit well above expectations and raised its outlook, as the company’s turnaround efforts show signs of success.

The company reported adjusted earnings per share of $0.56, well above the $0.31 that analysts surveyed by Visible Alpha were looking for. Revenue fell more than 5% year-over-year to $3.35 billion, short of forecasts. However, comparable sales only declined 4.2%, while the Visible Alpha estimate was for a drop of 4.75%.

Kohl’s now sees full-year revenue sliding 5% to 6%, compared to its earlier outlook of down 5% to 7%.In addition, the company’s guidance for adjusted EPS of $0.50 to $0.80 was well ahead of the Visible Alpha prediction of $0.34.

Shares of Kohl’s were up 18% recently, trading at their highest levels in nine months. In late July, shares soared after the company was a major topic of conversation on r/wallstreetbets, the subreddit that fueled the meme stock craze of 2021.

–Bill McColl

MongoDB Levels to Watch as Stock Soars After Earnings

7 hr 14 min ago

MongoDB (MDB) shares soared over 30% Wednesday morning after the database software provider lifted its full-year outlook and topped Wall Street’s quarterly sales expectations.

The company said revenue from its flagship Atlas platform jumped 29% year-over-year in the second quarter, while subscription revenue climbed 23%. The software provider also said it added a record 5,000 customers in the first half of the year, boosted by growing demand from users building artificial intelligence applications.

Heading into the company’s report, MongoDB shares were down about 8% for the year amid some concerns about increasing competition and slowing enterprise spending, with Wednesday’s gains bringing the stock back into positive territory for 2025.

MongoDB shares have consolidated near the key 50- and 200-day moving averages in recent weeks, potentially signaling accumulation by larger market participants ahead of the company’s quarterly results.

The stock also registered its highest trading volume since early June, indicating some investors positioned for post-earnings volatility.

Investors should watch overhead areas on MongoDB’s chart around $295, $350 and $440, while also monitoring major support levels near $252 and $215.

The stock was up 33% at $287 recently.

Read the full technical analysis piece here.

–Timothy Smith

What Analysts Think of Nvidia Ahead of Earnings

8 hr 35 min ago

Nvidia (NVDA) is set to release its latest quarterly results after the market closes Wednesday, with analysts expecting the company’s sales could reach another record high, despite an anticipated hit from export curbs.

The AI chipmaker is projected to report adjusted earnings per share of $1.02 for the second quarter on an over 50% year-over-year jump in revenue to $46.52 billion, according to consensus estimates compiled by Visible Alpha. CEO Jensen Huang could also provide more details during the company’s earnings call about the timing of new products, including Nvidia’s next-generation Rubin lineup and a more powerful AI chip tailored for China’s market.

In May, Nvidia warned it could face an $8 billion hit from China export restrictions, and although the company recently struck a 15% revenue-sharing agreement with the Trump administration to resume sales of its H20 chip in China, Wednesday’s report will still reflect the full impact of the restrictions. 

Despite near-term trade policy headwinds, Wall Street analysts are overwhelmingly bullish on the chipmaker’s prospects. Of the 14 analysts with current ratings surveyed by Visible Alpha, 13 call the stock a “buy,” compared to one “hold” rating. Their targets range from $155 to $225, with the majority above $200, suggesting significant upside from the stock’s current price around $181.

“Expectations have risen ahead of Nvidia’s earnings, and we think rightfully so,” Morgan Stanley analysts said last week, as they raised their target to $206 from $200, citing strong AI demand signals. UBS also raised its target, to $205 from $175, while Wedbush boosted its to $210 from $175.3

Shares of Nvidia were down slightly in early trading Wednesday. The stock has gained 35% since the start of 2025.

–Kara Greenberg

Cracker Barrel Stock Jumps as Company Brings Back Old Logo

9 hr 10 min ago

Shares of Cracker Barrel Old Country Store (CBRL) jumped in early trading Wednesday, a day after the restaurant chain reversed a controversial change in its logo.

The company wrote on the social media site X that it thanked “our guests for sharing your voices and love for Cracker Barrel,” and after listening to them, “our new logo is going away and our ‘Old Timer’ will remain.”

The stock was up 6% in recent trading, boosting its year-to-date gain to 16%.

Cracker Barrel shares plunged following backlash from the change made earlier this month. Seeking a younger audience, it had done away with the logo featuring a man leaning on a barrel, replacing it with just the Cracker Barrel name.

However, the reaction was strongly negative, with even President Donald Trump chiming in Tuesday morning, saying the company “should go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before.” Following the decision, Trump weighed in again, congratulating Cracker Barrel, adding that “your fans very much appreciate it.”

–Bill McColl

Major Index Futures Inch Higher

10 hr 38 min ago

Futures tied to the major U.S. indexes were up 0.1% in recent trading.

Dow Jones Industrial Average futures

S&P 500 futures

Nasdaq 100 futures