These Stocks Moved the Most Today: Alphabet, Nvidia, AMD, Apple, Dell, Robinhood, Deere, HP Inc., Urban Outfitters, and More

Traders working at the New York Stock Exchange. (Courtesy NYSE)

Key Points

• Alphabet’s shares fell after reaching a record high, with investors concerned about competition in AI from Nvidia.
• Dell Technologies rose following better-than-expected third-quarter results and increased AI server guidance.
• Urban Outfitters surged after reporting strong third-quarter earnings, with same-store sales increasing 8%.

The stock market extended its Wednesday as investors continued to bet the Federal Reserve will cut interest rates at its December policy meeting.

These stocks made notable moves:

Alphabet was down 1.1%. Coming into Wednesday, shares have surged more than 70% in 2025, on pace for their best year since 2009, which has driven the search-engine provider’s valuation to just under $4 trillion. Investors are betting Alphabet can become a dominant player in artificial intelligence due to its Gemini 3 large-language model and tensor processing unit, or TPU, chips.

Nvidia rose 1.4% on Wednesday after dropping 2.6% in the previous session. Shares have taken a battering over the past month, with investors worrying Alphabet could snatch away some of the AI chip maker’s market share. Advanced Micro Devices, another leading AI chip maker, gained 3.9%, bouncing back from a 4.2% drop Tuesday.

Apple gained 0.2% to $277.55. The iPhone maker eked out another high, after finishing Tuesday at a record. Shares have edged higher over the past month, with investors looking for havens amid worries about bloated AI valuations.

Dell Technologies climbed 5.8% after the PC maker reported better-than-expected third-quarter results and raised its AI server guidance. Its profit margins held strong despite the rising cost of memory components.

HP Inc. declined 1.4% after the IT company cautioned that skyrocketing prices for memory chips could weigh on its results for the current fiscal year. The warning overshadowed better-than-expected earnings for the fiscal fourth quarter. The company also said it planned to cut up to 10% of its workforce.

Robinhood stock climbed 11% a day after the company unveiled a futures and derivatives exchange offered in collaboration with Susquehanna International Group. The joint venture will expand Robinhood’s prediction-market offerings.

U.S.-listed shares of Li Auto were 0.6% higher following mixed third-quarter results. The Chinese electric-vehicle maker reported an unexpected adjusted loss as sales dropped 36% to $3.8 billion, narrowly beating the $3.7 billion Wall Street was expecting.

Deere fell 5.7%. While earnings beat analysts’ estimates, Deere told investors to expect fiscal 2026 net income in the range of $4 billion to $4.75 billion, while Wall Street was expecting $5.3 billion.

Autodesk gained 2.4% after the maker of digital design software topped analysts’ third-quarter earnings forecasts and raised its outlook.

Nutanix dropped 18% after the cloud computing company met analysts’ expectations for its fiscal first quarter but cut its full-year sales outlook, citing a shift in revenue to future periods.

Urban Outfitters surged 14%. The clothing retailer reported better-than-expected earnings Tuesday for the fiscal third quarter, as same-store sales climbed 8%.

Workday tumbled 7.9% after the provider of human resources software posted third-quarter revenue that was in line with expectations. The results failed to reassure investors who were worried about organic growth and encroachment by artificial intelligence.

Zscaler slumped 13%, even though the cybersecurity company reported a profit for its first quarter. Its financial guidance was in line with expectations, and investors unloaded the shares following a rally this year.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and George Glover at george.glover@dowjones.com