These Stocks Moved the Most Today: Wolfspeed, CoreWeave, Pfizer, Intel, Spotify, Firefly, Lamb Weston, and More

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

Key Points

• Wolfspeed has emerged from Chapter 11 bankruptcy and has reduced its total debt by about 70%.
• CoreWeave receives a $14.2 billion AI cloud-computing contract from Meta Platforms.
• Intel stock falls, extending losses from the previous session.

Stocks rallied late on Tuesday, as investors shrugged off a deadline to avert a U.S. government shutdown and U.S. consumer confidence data were weaker than expected.

These stocks made notable moves:

Wolfspeed rose 29% to $28.60 after the chip company said it had emerged from Chapter 11 bankruptcy. Wolfspeed said it has reduced its total debt by about 70% and lowered its annual cash interest expense by roughly 60%. “In addition, the company believes that it maintains ample liquidity to continue supplying customers with leading silicon carbide solutions,” Wolfspeed said. The company issued new shares on Monday as it switched its incorporation to Delaware from North Carolina.

Nvidia was up 2.6% to $186.58. KeyBanc raised its price target on the stock to $250 from $230, reiterating an Overweight rating, citing momentum for rack shipments, and potential to maintain its competitive advantage among rival chip makers, among other things.

Intel fell 2.7%, extending losses from Monday, when the stock declined 2.9%. Shares of the chip maker have gained nearly 40% over the past month after Nvidia vowed to invest $5 billion in the company, and speculation mounted that iPhone maker Apple and Taiwan Semiconductor Manufacturing could follow.

CoreWeave , the artificial-intelligence cloud service provider, surged 12% after landing a $14.2 billion AI cloud-computing agreement with Meta Platforms. Meta will pay the $14.2 billion through Dec. 14, 2031, with the option to extend its commitment through 2032 for additional cloud computing capacity, CoreWeave said. Meta fell 1.2%.

Pfizer climbed 6.8%. CEO Albert Bourla and President Donald Trump announced a plan to lower prices on several of the company’s medications in the U.S. during a White House event Tuesday. The White House separately unveiled a direct-to-consumer website for Americans to buy drugs called TrumpRx.

Boeing was down 0.6% after The Wall Street Journal reported that it was planning a new jet to replace the 737 MAX. The move could commit the company to billions of dollars and multiple years of product development. The payoff would likely be an improved market share in key markets. It comes after the 737 MAX jet has faced several issues, including two deadly crashes in 2018 and 2019.

Spotify Technology fell 4.2% after the music-streaming company said CEO Daniel Ek plans to step down. Alex Norström and Gustav Söderström, Spotify’s co-presidents, will become co-CEOs on Jan. 1.

Jefferies Financial Group declined 1.9% after the investment bank posted fiscal third-quarter earnings. Earnings came in at $1.01 a share, topping Wall Street forecasts of 80 cents. Revenue of $2.05 billion rose 22% from a year earlier and also beat consensus. Jefferies said $656 million of revenue from its investment-banking advisory business was its best ever in a quarter.

Lamb Weston rose 4.3%. The maker of frozen potato products reported fiscal first-quarter earnings that topped analysts’ estimates. Sales rose 0.3% to $1.66 billion, slightly ahead of estimates of $1.62 billion.

Robinhood Markets was up 4.7%. Shares of the brokerage platform rose 12% on Monday to close at $136.72, a record high. Robinhood stock has been boosted by developments in both its ultraluxury banking service and football prediction markets. Shares have soared 284% in 2025.

Firefly Aerospace cratered 21% after a rocket booster at the company’s facility in Briggs, Texas, exploded. The company said it was assessing the incident’s impact on its booster test stand at the site. “During testing at Firefly’s facility in Briggs, Texas, the first stage of Firefly’s Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage. Proper safety protocols were followed, and all personnel are safe,” the company said.

Progress Software rose 3.1% after fiscal third-quarter earnings and revenue surpassed Wall Street forecasts and the Burlington, Mass. company raised its fiscal-year adjusted earnings forecast. Progress Software said it expects adjusted per-share earnings of $5.50 to $5.56, up from previous guidance of $5.28 to $5.40.

Shares of Nike were up 0.3% ahead of fiscal first-quarter earnings, scheduled for after the closing bell Tuesday.

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