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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, DOWNBEAT GDP

Caterpillar sinks 7% after earnings, management sees weakness in Europe, Asia-Pacific

Midday movers: Nvidia, Illumina, American Eagle Outfitters and more

Investing.com
·1 min read

Investing.com -- Stocks are mixed on Thursday as tech gets a boost from Nvidia's strong outlook while Dow stocks are weaker on a lack of resolution in the debt ceiling negotiations. Here are the market movers for May 25.

NVIDIA Corporation (NASDAQ:NVDA) shares jumped 25% after the chip maker forecast $11 billion in revenue in the current quarter because of surging demand for its chips that power artificial intelligence technology, especially the generative chatbots. Shares of Advanced Micro Devices (NASDAQ:AMD) rose 10%, while shares of Intel (NASDAQ:INTC) fell 6.6%. Illumina Inc (NASDAQ:ILMN) shares fell 8.6% as the gene sequencing company heads into a shareholder meeting where investors are going to vote on the outcome of a proxy fight by activist investor Carl Icahn. Shares of Icahn Enterprises LP (NASDAQ:IEP) fell more than 20%. American Eagle Outfitters Inc (NYSE:AEO) shares fell 13% after the retailer lowered its revenue outlook to flat to negative compared with its previous forecast for flat to slightly positive. Lower-income shoppers, feeling pinched by inflation, are holding back on apparel purchases. Dollar Tree Inc (NASDAQ:DLTR) shares fell 15% after the discount retailer fell short of first-quarter expectations and cut its full-year profit outlook.

Snowflake Inc (NYSE:SNOW) shares fell 16% after the cloud computing company gave softer-than-expected guidance for second-quarter revenue after beating estimates for the first quarter.

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