These Stocks Moved the Most Today: Nvidia, GE Vernova, Palantir, EchoStar, GameStop, AeroVironment, Carvana, and More

Traders working at the New York Stock Exchange. (Photo by ANGELA WEISS/AFP via Getty Images)

Key Points

• GE Vernova jumps after raising its 2028 revenue forecast to $52 billion and boosting its dividend and share buyback plan.
• GameStop falls as third-quarter revenue declines from a year earlier.
• Palantir Technologies rises after securing a $448 million contract with the U.S. Navy for submarine fleet supply chain management.

Stocks rose Wednesday after the Federal Reserve opted to cut interest rates by another quarter of a percentage point and signaled just one rate cut in 2026.

These stocks made notable moves:

Nvidia fell 0.6% as investors gauged whether a U.S. plan to permit export of artificial-intelligence chips to China will result in significant sales. Nvidia’s H200 AI chips would be manufactured in Taiwan but have to travel to the U.S. for a national-security review before being sent on to China, The Wall Street Journal reported.

GE Vernova surged 16%. The energy company raised its outlook and boosted its dividend and share buyback authorization. GE Vernova now sees revenue hitting $52 billion on a low double-digits compound annual growth rate by 2028, up from a previous forecast of $45 billion.

Palantir Technologies gained 3.3% after the software company won a contract with the U.S. Navy to manage the supply chain of a nuclear submarine fleet in the hope of reducing maintenance downtime. The deal, valued at $448 million, is being paid for with money from President Donald Trump’s signature spending bill.

EchoStar climbed 11%, extending an upward move on the heels of a report that Elon Musk’s SpaceX might be headed for a 2026 initial public offering. Satellite communications company EchoStar announced a deal to sell its AWS-4 and H-block spectrum licenses to SpaceX earlier this year.

GameStop fell 4.3% as third-quarter revenue declined from the same time last year. The videogame retailer reported $821 million in revenue and earnings of 24 cents a share. In the year-earlier quarter, GameStop reported revenue of $860 million and earnings of 6 cents a share.

Carvana moved 2.5% higher to $467.67. The used-car dealer’s market cap surpassed the $100 billion threshold for the first time on record.

AeroVironment tumbled 13%. The company, which makes military drones, reported mixed quarterly results, even as sales climbed 151% to a record $472.5 million.

Photronics posted better-than-expected earnings for its fiscal fourth quarter. Shares surged 45% to $37.35, their highest close since 2001 and the largest single-day gain since 2008.

Chewy stock was up 1.5%. The pet supply retailer posted fiscal third-quarter earnings and revenue that topped analyst estimates, overshadowing a weak fourth-quarter outlook.

Braze, the customer engagement platform, jumped 18% after topping analysts’ revenue estimates in the third quarter and boosting fiscal 2026 guidance.

Micron Technology rose 4.5% to $263.71. The chip maker is set to report earnings on Dec. 17. With just a week to go, Citi Research raised its price target on the stock to $300 from $275 and reiterated a Buy rating, citing a continued increase in memory prices that has so far been a boon to Micron.

Earnings were expected after the bell Wednesday from Oracle, Adobe, and Synopsys.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and Adam Clark at adam.clark@barrons.com