Top Midday Decliners

Thursday’s market has seen notable fluctuations among stocks across different market capitalizations, with mega-cap stocks like Salesforce Com (NYSE:CRM) and Nvidia Corp (NASDAQ:NVDA) making significant moves. Amid these shifts, various large-cap stocks have also experienced substantial changes. Here are some of the most impactful stock movers today, from mega-caps to small caps.

Mega-Cap Movers:

• Salesforce Com (CRM): Salesforce Reports Record First Quarter Fiscal 2026 Results; -5.41%
• Nvidia Corp (NVDA): NVIDIA posts $44.1 billion Q1 revenue, up 69% year-over-year; +2.98%

Large-Cap Stock Movers:

• Veeva Sys Inc (NYSE:VEEV): Veeva Pulse Report Finds Content-Driven Engagement Lags Despite Proven Boost to Treatment Adoption; +18.27%
• Nordson Corp (NASDAQ:NDSN): Nordson shares rise on strong Q2 results, upbeat guidance; +5.38%
• Best Buy (NYSE:BBY): Best Buy Reports First Quarter Results; -8.42%
• Hewlett-Packard (HPQ): HP Inc (NYSE:HPQ). Reports Fiscal 2025 Second Quarter Results; -7.94%
• dMY Technology Group III (IONQ): Quantum Computing Technology Evolving as Larger Scale of Applications & Uses Skyrockets; -6.88%
• Arm (ARM): -5.61%
• Arista Networks (NYSE:ANET): -5.95%
• HubSpot Inc (NYSE:HUBS): -5.42%
• Vector Acquisition (NASDAQ:RKLB): -5.01%
• Pure Storage Inc (NYSE:PSTG): Pure Storage Announces First Quarter Fiscal 2026 Financial Results; -5.15%

Mid-Cap Stock Movers:

• LZ Tech Holdings (LZMH): +49.82%
• Regencell Bioscience Holdings (RGC): +38.45%
• C3 Ai Inc (NYSE:AI): C3.ai stock surges 14% on strong guidance, narrower loss than feared; +23.33%
• ELF Beauty Inc (NYSE:ELF): e.l.f. Beauty Announces Fourth Quarter and Full Fiscal 2025 Results; +21.89%
• Hamilton Lane Inc (NASDAQ:HLNE): HAMILTON LANE INCORPORATED REPORTS STRONG FOURTH FISCAL QUARTER AND FISCAL YEAR 2025 RESULTS, WITH MANAGEMENT AND ADVISORY FEES GROWING BY 14% AND ASSETS UNDER MANAGEMENT GROWING BY 11% YEAR-OVER-YEAR; -11.58%
• SentinelOne (NYSE:S): SentinelOne stock rating downgraded at BofA Securities; -11.24%
• Merus BV (NASDAQ:MRUS): +10.82%
• Advance Auto Parts (NYSE:AAP): -10.0%
• Lucid Group Inc (NASDAQ:LCID): -7.99%
• Limited Brands (BBWI): Bath & Body Works (NYSE:BBWI) Reports 2025 First Quarter Results and Maintains Fiscal Year 2025 Guidance; -7.15%

Small-Cap Stock Movers:

• Twelve Seas Investment Company (BROG): Brooge Energy to delist from Nasdaq by mid-June; -51.04%
• Oric Pharmaceuticals Inc (ORIC): ORIC ® Pharmaceuticals Announces Potentially Best-In-Class Preliminary Efficacy and Safety Data from Ongoing Phase 1b Trial of ORIC-944 in Combination with AR Inhibitors for the Treatment of Patients; +36.81%
• AMTD Digital ADR (HKD): +32.65%
• Churchill Capital III Corp (CTEV): +30.2%
• Intellia Therapeutics Inc (NASDAQ:NTLA): -25.41%
• AEABridges Impact (LVWR): -21.91%
• B Riley Principal Merger Ii (EOSE): Eos Energy launches $75 million stock offering; -21.02%
• Erasca (ERAS): Erasca to Present at Upcoming Investor Conferences in June; +20.91%
• Qilian International Holding Group (BGM): BGM Group announces dual acquisition to bolster AI capabilities; +19.21%
• Build-A-Bear Workshop Inc (NYSE:BBW): Build-A-Bear Workshop Reports Record-Breaking First Quarter Fiscal 2025 Results; +18.91%

For real-time, market-moving news join Investing Pro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com-- The S&P 500 stocks cut gains Thursday as as initially optimism following the U.S. court ruling against President Donald Trump’s trade tariffs faded, but a rally in Nvidia kept the broader market above the flatline.

At 12:54 ET (17:54 GMT), the Dow Jones Industrial Average rose 17 points, or 0.1%, the S&P 500 index gained 0.4%, and the NASDAQ Composite added 0.6%. 

The major U.S. indices are on track to close the week, and month, higher. Before Thursday’s session, the S&P 500 and DJIA are up 1.5% and 1.2% this week, respectively, while the NASDAQ Composite has rallied nearly 2%. 

This month, the S&P 500 has gained 5.7%. The Dow has added 3.5%, while the Nasdaq has jumped 9.5%.

Trump’s tariffs blocked by trade court but optimism fades

Trump’s proposed reciprocal tariffs against major U.S. trading partners were blocked by the Court of International Trade late Wednesday, which ruled that the president superseded his authority in imposing sweeping tariffs. 

The ruling was on a lawsuit filed by the Liberty Justice Center on behalf of five small U.S. businesses that import goods from the countries targeted by Trump’s tariffs.

The trade court ruled that the International Emergency Economic Powers Act invoked by Trump in imposing his tariffs did not grant him sufficient authority to impose his tariffs. 

While the decision raised optimism that Trump’s sweeping tariff agenda, which markets fear could greatly disrupt economic growth and corporate profits, will be blocked, it added another layer of trade uncertainty. 

"Following the ruling, the Trump administration issued a notice of appeal, and the case will now move to an appellate court, and potentially the Supreme Court," Stifel said in a note.

even as the White House announced plans to contest the ruling. 

Nvidia rallies on strong quarter 

Nvidia (NASDAQ:NVDA) stock rose strongly after the chipmaker reported stronger-than-expected first-quarter earnings, indicating that demand for AI chips and data center servers remained robust.

Nvidia flagged strong orders from Wall Street’s biggest spenders on AI infrastructure. 

These strong earnings helped investors look past a softer-than-expected forecast for the current quarter, as the company also flagged a $8 billion hit to sales from stricter U.S. export controls against China. 

The guidance was "impressive," Wedbush said, as the company "also indicated the loss of H20 revenue will represent an $8B headwind to sales this quarter."

Nvidia acts as a bellwether for AI demand, with its earnings signaling that companies will continue to spend billions on building more AI infrastructure. 

Elsewhere, Tesla (NASDAQ:TSLA) stock rose after CEO Elon Musk confirmed he was leaving his role in the Trump administration, ensuring he can focus his energies on running the electric vehicle giant.

Kohl’s (NYSE:KSS) stock gained after the department store chain reported a smaller quarterly loss than its previous forecast and maintained its annual targets, as it focuses on turnaround efforts to cut costs.

Best Buy (NYSE:BBY) stock fell after the retailer slashed its outlook for fiscal 2026 to reflect the impact of tariffs, offsetting its better-than-expected results for the first quarter.

GDP contracted in Q1 

This positive news has overshadowed weak economic data, indicating that the Trump administration’s volatile trade policies are weighing heavily on sentiment.

The U.S. economy contracted in the first quarter, with gross domestic product showing a decline of 0.2% annualized in the January-March quarter, the BEA said in its second estimate of GDP.

The economy was initially estimated to have contracted at a 0.3% pace. It grew at a 2.4% rate in the fourth quarter. 

Additionally, the number of Americans filing new applications for unemployment benefits increased more than expected last week, while the jobless rate appeared to have picked up in May as labor market conditions continue to ease.

Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 240,000 for the week ended May 24, the Labor Department said on Thursday.

There are a number of Fed speakers, including Bank of Richmond President Thomas Barkin, Fed Bank of Chicago head Austan Goolsbee and Bank of Dallas head Lorie Logan, due during Thursday’s session.

Crude hands back early gains 

Oil prices gave up early gains Thursday, with sentiment hit by data showing that the U.S. economy, the world’s largest energy consumer, contracted in the first quarter. 

At 09:35 ET, Brent futures dropped 1% to $63.65 a barrel, and U.S. West Texas Intermediate crude futures fell 1% to $61.25 a barrel.

The crude market had surged earlier Thursday after the U.S. court ruling boosted risk appetite, as Trump’s tariff plans have been the biggest point of uncertainty for oil markets this year, as traders fretted over their economic impact and their effect on oil demand.

Adding to the earlier positive tone was data from the American Petroleum Institute showing that U.S. oil inventories shrank by 4.24 million barrels in the past week, in contrast to expectations for a build of 1 million barrels. 

Signs of a sharp drawdown in U.S. oil stockpiles sparked hopes that fuel demand in the country remained strong despite heightened economic uncertainty, and traders will look for confirmation from official data later in the session.

Ambar Warrick contributed to this article.