These Stocks Moved the Most Today: Target, Palantir, Intel, Nvidia, Dayforce, Hertz, James Hardie, and More

Traders work on the floor of the New York Stock Exchange. (Michael M. Santiago/Getty Images)

Stocks traded mostly lower Wednesday as a selloff in technology names continued and big-name retailers reported quarterly earnings.

Wall Street also parsed the minutes from the latest Federal Reserve meeting, which showed deep divisions over tariffs, inflation, and labor market.

These stocks made notable moves:

Target posted stronger-than-expected second-quarter earnings but the stock declined 6.4% after the retailer announced that company veteran and current Chief Operating Officer Michael Fiddelke will succeed CEO Brian Cornell on Feb. 1. The news disappointed investors who were hoping for an external hire to bring in a fresh perspective.

Lowe’s rose 0.3% after the home-improvement retailer reported better-than-expected second-quarter earnings, raised its fiscal-year sales guidance, and said it was purchasing Foundation Building Materials for about $8.8 billion.

Palantir Technologies fell 1.1%, extending declines into a sixth-straight session. Palantir, which trades at more than 200 times projected earnings, has fallen as investors unloaded expensive AI shares. Coming into Wednesday, Palantir had risen 109% so far this year.

Intel was down 7% after the chip maker rose nearly 7% on Tuesday to $25.31, its highest close since March 18. Driving the stock higher was a $2 billion investment from Japan’s SoftBank. Coming into Wednesday’s trading session, Intel had gained almost 28% in August, according to Dow Jones Market Data.

Nvidia was down 0.1%, falling along with the broader tech sector, ahead of earnings next week from the leading maker of AI chips. Nvidia shares were headed for their first two-week losing streak since April.

TJX Cos. was up 2.7% as the retailer, which operates stores including T.J. Maxx and HomeGoods, posted better-than-expected second-quarter earnings and boosted its outlook for the rest of the fiscal year.

Estée Lauder ‘s fiscal fourth-quarter earnings matched analysts’ expectations but the stock was down 3.6% after the cosmetics company issued a fiscal-year sales forecast that missed estimates.

Analog Devices was up 6.3% after the semiconductor company posted fiscal third-quarter earnings that beat Wall Street expectations and offered an upbeat outlook for its current quarter.

Dayforce gained 3% to $67.40 after the company confirmed reports that it was in talks to be acquired by private-equity firm Thoma Bravo. The company, which sells human resources software, said the pair were engaged in advanced discussions over a buyout at $70 a share.

Home builder Toll Brothers reported fiscal third-quarter adjusted earnings of $3.73 a share on home sales revenue of $2.88 billion, topping Wall Street estimates on both metrics, according to FactSet. The company said it delivered 2,959 homes in the period. It expects to deliver 11,200 units in the fiscal year ending Oct. 31, which is at the lower end of its previously issued guidance. The stock fell 0.6%.

James Hardie Industries fell 34%. The company, which makes home siding, reported fiscal first-quarter adjusted earnings of 29 cents a share, below analysts’ estimates of 33 cents. Sales declined 9% to $899.9 million, also missing forecasts.

Alcon shares fell 10%. The eye-care company’s second-quarter revenue of $2.58 billion missed consensus expectations. Management trimmed its fiscal-year revenue guidance, saying it anticipates $10.3 billion to $10.4 billion, while it said earlier it expected $10.4 billion to $10.5 billion.

Hertz Global jumped 6% after the car-rental company said it would start selling used vehicles on Amazon Autos. Hertz said the collaboration initially will begin in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Carvana, which sells used cars online, declined 1.7%.

La-Z-Boy tumbled 12% after its fiscal first-quarter adjusted earnings missed analysts’ forecasts and the furniture maker said it expects second-quarter revenue of $510 million to $530 million. Analysts had been forecasting revenue for the second quarter of about $532 million.

Write to Joe Woelfel at joseph.woelfel@barrons.com