These Stocks Moved the Most Today: Oracle, Tesla, Alphabet, Dave & Buster’s, Chipotle, and More

The stock market is waiting for the Federal Reserve’s latest decision on interest rates. (NYSE)

Stocks fell Tuesday, as the Federal Reserve kicked off a two-day meeting at which it is widely expected to reduce interest rates for the first time since last December.

These stocks made notable moves Tuesday:

Oracle rose 1.5%, building on a 3.4% gain Monday. Investors are speculating the software company may be part of a deal between the U.S. and China regarding the Chinese-owned social-media app TikTok. President Donald Trump wrote on his Truth Social platform that “a deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save,” referring to TikTok. It comes on the back of strong momentum for Oracle stock, following a blowout earnings report last week that sent shares up 36%.

Tesla was up 2.8%. Shares of the electric-vehicle maker rose 3.6% on Monday following the disclosure that CEO Elon Musk purchased $1 billion of shares, his first purchases of Tesla stock in the open market since February 2020. On Tuesday, the National Highway Traffic Safety Administration said it was opening an investigation into Tesla, citing instances where vehicle door handles stopped working and trapped children inside.

Alphabet dropped 0.2%. Shares of the Google parent ended Monday’s session up 4.5% at $251.61, a record closing high. The gains helped Alphabet notch a market capitalization above $3 trillion for the first time. Alphabet joined Apple, Nvidia, and Microsoft as the fourth company on record to ever close above the milestone.

The move in the stock came after Google’s AI chatbot, Gemini, reached the top spot in the U.S. App store over the weekend. Shares have rallied since a judge handed Google a limited set of remedies to mitigate its dominance in internet search earlier this month.

Shares of Nvidia, the leading maker of artificial-intelligence chips, declined 1.6%. The stock closed down slightly at $177.75 on Monday after China’s market regulator said a preliminary investigation found Nvidia had violated antimonopoly laws. It has surged 31% this year.

Dave & Buster’s Entertainment , the arcade-restaurant operator, sank 17% after second-quarter adjusted earnings widely missed analysts’ estimates. Revenue of $557.4 million also missed forecasts and comparable sales declined 3% versus projections for a decline of 2.2%.

Chipotle Mexican Grill rose 1.9% after its board authorized a $500 million stock buyback, bringing its total share repurchase authorization to about $750 million as of Sept. 15, the restaurant chain said. Like many of its peers, Chipotle has seen its stock fall by double digits this year amid cautious consumer spending and higher costs.

Ferguson Enterprises climbed 7.9% after the plumbing-equipment distributor reported fiscal fourth-quarter earnings that were better than Wall Street had expected. Adjusted earnings came in at $3.48 a share, beating a consensus analysts’ forecast of $3.01, according to FactSet.

Write to Joe Woelfel at joseph.woelfel@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com