These Stocks Moved the Most Today: Nvidia, Builders FirstSource, Zoom, Intuit, Workday, BJ’s, Ubiquiti, and More

Traders at the New York Stock Exchange (Michael M. Santiago/Getty Images)

Stocks rose sharply Friday, with the Dow Jones Industrial Average hitting a record closing high, after Federal Reserve Chairman Jerome Powell signaled the central bank could be moving closer to lowering interest rates in a speech at the Fed’s annual gathering in Jackson Hole, Wyo.

These stocks were moving:

Zoom Communications reported second-quarter adjusted earnings of $1.53 a share, beating analysts’ forecasts of $1.38, as revenue rose 4.7% to a slightly better-than-expected $1.22 billion. The videoconferencing platform also raised its fiscal-year outlook, sending the stock up 13%.

Builders FirstSource jumped 8.4%, Trex rose 5.5%, and Mohawk Industries rose 7.3% as investors in the homebuilding sector hoped Powell’s hint that rate cuts could be coming would lead to a reduction in mortgage rates.

Shares of Nvidia, the leading maker of AI chips, rose 1.7%. Multiple reports said the company had asked some of its suppliers to stop production related to its H20 processors, which are made for the Chinese market. The stock has finished lower for three consecutive days, falling 3.9% over the span, and has closed down in four of the past five sessions.

Intuit topped Wall Street’s fiscal fourth-quarter earnings expectations but the stock fell 5% following disappointing fiscal 2026 guidance. The parent company of TurboTax and Credit Karma said it expects fiscal-year earnings of between $22.98 and $23.18 a share on revenue of $21 billion to $21.19 billion. The low end of Intuit’s guidance was just below Wall Street estimates for earnings of $23.02 a share on revenue of $21.1 billion.

Workday reported second-quarter adjusted earnings of $2.21 a share, beating analysts’ estimates of $2.11, as subscription revenue jumped 14% from a year earlier to $2.17 billion. But the stock stumbled, falling 2.8%, as the human-resources software company issued third-quarter guidance that was slightly shy of expectations. For the current quarter ending in October, Workday expects subscription revenue of $2.235 billion, just below estimates of $2.237 billion. Workday also announced it was acquiring Paradox, a company that uses artificial intelligence to automate recruitment and hiring processes. Terms of the deal weren’t disclosed.

Second-quarter sales at Ross Stores rose 5% to $5.53 billion, with the discount department store chain saying it was encouraged by trends at the end of the quarter, “particularly with the early sales performance related to the back-to-school selling season.” Wall Street was estimating sales of $5.54 billion. Earnings of $1.56 a share included a negative impact of 11 cents from tariff-related costs, the retailer said. A year earlier, Ross Stores reported a profit of $1.59 a share. The stock was up 1.1%.

Palantir Technologies gained 1.6% after the company, which sells AI software to manage and analyze large amounts of data, rose slightly Thursday to snap a six-session losing streak. It was Palantir’s longest losing streak since April 2024, when it also declined for six consecutive trading days, according to Dow Jones Market Data.

BJ’s Wholesale Club said second-quarter total revenue rose 3.4% to $5.38 billion but that missed analysts’ estimates of $5.49 billion. Comparable-club sales, excluding gasoline, rose 2.3% from a year earlier but were shy of estimates of 3.2%. BJ’s raised its fiscal-year adjusted earnings guidance range but maintained its outlook for comparable-club sales growth at 2% to 3.5%. The stock fell 8.5%.

Ubiquiti, the network-infrastructure company, raised its quarterly dividend to 80 cents a share from 60 cents, its board approved a new, $500 million stock buyback, and it reported fiscal fourth-quarter profit and revenue that rose from a year earlier. The stock jumped 31%.

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