These Stocks Moved the Most Today: Tesla, Centene, Apple, Adobe, Rigetti Computing, Greenbrier, and More

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

Stocks mostly rose Wednesday after President Donald Trump announced the U.S. had signed a trade agreement with Vietnam.

These stocks made moves Wednesday:

Tesla stock was up 5% even after the electric-vehicle company delivered 384,122 cars in the second quarter, down 13.5% from 444,000 in the second quarter of 2024 but very close to the Wall Street consensus estimate of about 386,000 vehicles. It was the worst quarterly decline in the company’s history.

Rivian Automotive was down 4.5%. The EV start-up reported second-quarter sales of 10,661 vehicles, down 23% from a year earlier, and reiterated its full-year guidance for sales of between 40,000 to 46,000 vehicles.

Apparel retailers that manufacture their goods in Vietnam saw gains after the trade deal announcement. Nike rose 4.1% while On Holding, the Swiss sneaker maker, gained 4.4%. Shares of Lululemon Athletica rose 0.5%.

Apple rose 2.2% to $212.44 after analysts at Jefferies upgraded the iPhone maker to Hold from Underperform and boosted their price target to $188.32 from $170.62. The firm believes good fiscal third-quarter earnings “could keep the stock stable” in the near term. Apple shares have declined 17% this year.

Centene sank 40.4% after the health insurer withdrew its fiscal-year earnings guidance. Centene said preliminary data for 22 of its 29 marketplace states signaled that fewer customers than expected were enrolling in its plans, and those that have signed up were more likely to have health problems than previously forecast. Shares of Molina Healthcare declined 22% on the news.

Shares of the biggest U.S. banks, including Goldman Sachs, JPMorgan Chase, and Wells Fargo, were rising after the companies announced fresh plans for stock buybacks and dividends following the Federal Reserve’s disclosure of positive annual stress tests.

Verint Systems jumped 15% after Bloomberg reported that private-equity firm Thoma Bravo was negotiating the terms of a potential acquisition of the maker of call center software. Verint is working with an adviser, people familiar with the matter told Bloomberg.

Constellation Brands reported fiscal first-quarter earnings and sales that missed analysts’ estimates and said its beer business experienced a net sales decrease of 2% that was “driven by a 3.3% decline in shipment volumes reflecting socioeconomic headwinds affecting consumer demand.” The company earlier this year said Hispanic beer consumers had cut down on dining out and socializing due to worries about the economy and the administration’s immigration crackdown. Constellation Brands maintained its fiscal-year outlook across all business segments. Shares rose 4.5%.

Shares of Rigetti Computing, D-Wave Quantum, and IonQ climbed 15%, 7.8%, and 12%, respectively, after Cantor Fitzgerald analyst Troy Jensen initiated coverage on all three companies with an Overweight rating. Jensen also initiated coverage on Quantum Computing with a Hold rating and $15 price target. The stock was up 11% at $20.65.

Adobe slipped 3.5% to $378.47. Rothschild & Co Redburn downgraded shares of the software company to Sell from Neutral and trimmed their price target to $280 from $420. The stock was also facing pressure from rival Figma’s filing of paperwork for a proposed initial public offering.

Greenbrier surged 21% after the railroad-equipment company reported fiscal third-quarter earnings and revenue that rose from a year earlier and raised its fiscal-year aggregate gross margin and operating margin guidance.

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