These Stocks Moved the Most Today: Nvidia, Snowflake, Pure Storage, CrowdStrike, Hormel Foods, Cooper, HP, and More

The stock market was digesting earnings from Nvidia. (Spencer Platt/Getty Images)

Stocks rose Thursday and the tech-heavy Nasdaq Composite traded higher even as earnings results from Nvidia, the world’s most valuable company, failed to push the stock higher.

These stocks made notable moves Thursday:

Nvidia declined 0.8%. The leading maker of artificial-intelligence chips reported fiscal second-quarter adjusted earnings of $1.05 a share, better than analysts’ forecasts of $1.01. Revenue of $46.7 billion beat consensus of $46 billion, and data-center revenue jumped 56% to $41.1 billion, but was below Wall Street estimates of $41.3 billion. Revenue at the midpoint of Nvidia’s third-quarter guidance range came in at $54 billion, versus expectations of $53.4 billion. The company said its current quarter outlook doesn’t assume shipments of its H20 chip to China.

CrowdStrike Holdings rose 4.6%. The cybersecurity company posted second-quarter adjusted earnings of 93 cents a share, better than analysts’ estimates of 83 cents, as revenue of $1.17 billion also topped forecasts. For the third quarter, CrowdStrike expects revenue in a range of $1.21 billion to $1.22 billion, below estimates of roughly $1.23 billion. The company also reached an agreement to acquire privately held Onum, a data observability platform, for undisclosed terms.

Snowflake soared 20% after the provider of cloud-based data warehouse software reported second-quarter adjusted earnings that topped analysts’ forecasts and raised its fiscal-year product revenue expectations to $4.395 billion from $4.325 billion. “We have an enormous opportunity ahead as we continue to empower every enterprise to achieve its full potential through data and AI,” said CEO Sridhar Ramaswamy.

Pure Storage, the maker of flash memory products, posted second-quarter adjusted profit of 43 cents a share on revenue of $861 million, up 13% from a year earlier. Analysts were calling for earnings of 39 cents a share on revenue of $846 million. Shares rallied 32%. Pure Storage said it expects to ship one to two exabytes of DirectFlash storage devices to customer Meta Platforms by the end of fiscal 2026, with the potential for additional shipments this year.

Cooper Cos. tumbled 13% after fiscal third-quarter earnings beat analysts’ expectations but revenue in the quarter rose 2% on an organic basis from a year earlier, lower than the expected 5.4% growth. The medical devices maker said it sees fiscal-year revenue between $4.08 billion and $4.1 billion, down from previous guidance and slightly below expectations.

Hormel Foods declined 13% after fiscal-third quarter adjusted earnings missed analysts’ estimates. Interim CEO Jeff Ettinger said a “steep rise in commodity input costs affecting our industry was the largest contributor to our shortfall,” and added that Hormel expects “profit recovery to lag into next year, with the near-term pressures we experienced in the third quarter persisting through the fourth quarter.”

Shares of Veeva Systems were down 7.2% after the cloud-solutions company posted better than expected second-quarter adjusted earnings and said it anticipates third-quarter adjusted profit of $1.94 to $1.95 a share, topping consensus estimates of $1.89.

HP Inc. was up 4.6%. The computer-products company’s fiscal third-quarter earnings matched Wall Street expectations and revenue rose 3.1% to $13.9 billion and topped analysts’ projections. HP said it expects strong demand for AI-powered personal computers in the months ahead. The company anticipates fourth-quarter adjusted earnings of between 87 cents and 97 cents a share, compared with estimates of 92 cents.

Li Auto’s American depositary receipts rose 2.9%. The Chinese electric-vehicle maker reported second-quarter adjusted earnings and revenue that missed analysts’ estimates. Quarterly deliveries were 111,074 vehicles, below the consensus call of 124,700.

Shares of Dollar General rose 0.5% after wavering earlier in the session. The discount retailer posted second-quarter earnings of $1.86 a share, above consensus of $1.58. Net sales climbed 5.1% to $10.7 billion and were in line with consensus. The retailer also raised its fiscal-year guidance, but indicated tariffs would likely lead to price hikes.

Nutanix fell 5.1%. The cloud-computing company posted fiscal fourth-quarter earnings that were better than Wall Street expectations on revenue of $653.3 million, better than consensus and up 19% from a year earlier. The company said it sees fiscal 2026 revenue of $2.9 billion to $2.94 billion; analysts had called for revenue of $2.91 billion.

Urban Outfitters, the apparel and home goods retailer, posted second-quarter earnings that beat Wall Street forecasts as revenue rose 11% to a better-than-expected $1.5 billion. Same-store sales rose 6.7% at its Free People brand and 5.7% at Anthropologie. However, the company warned that tariffs would lower future margins and could lead to price increases. The stock fell 11%.

Best Buy fell 3.7% after the electronics retailer posted better-than-expected fiscal second-quarter earnings and revenue but left investors disappointed it didn’t raise fiscal-year guidance.

Earnings reports were expected after the closing bell Thursday from Dell Technologies, Marvell Technology, Autodesk, Affirm Holdings, Ulta Beauty, and Gap.

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