These Stocks Moved the Most Today: Super Micro, AMD, Snap, Novo Nordisk, McDonald’s, Disney, Match, and More

Stocks were rebounding Wednesday as markets looked past U.S. tariff threats. ((Michael M. Santiago/Getty Images))

Stocks rose Wednesday as the market looked past President Donald Trump’s latest tariff threats to digest a raft of quarterly earnings.

These stocks made notable moves on Wednesday:

McDonald’s was up 3%. The fast-food chain posted adjusted earnings of $3.19 a share on revenue of $6.8 billion in its second quarter, topping analysts’ expectations. The company has taken steps to lure back customers after hiking prices during the pandemic, which include launching budget-friendly menu items. McDonald’s plans to extend late-night operating hours at most of its U.S. restaurants and open new locations worldwide to boost sales.

Advanced Micro Devices fell 6.4%. The chip maker reported second-quarter adjusted earnings of 48 cents, in line with forecasts, while revenue of $7.7 billion came in above the $7.4 billion Wall Street had anticipated. AMD said it couldn’t forecast chip sales in China as it awaits license approvals, driving the stock lower.

Super Micro Computer was down 18% after fiscal-fourth-quarter earnings missed expectations by a wide margin. The server maker’s outlook for the current quarter also disappointed, but revenue guidance for fiscal 2026 came in strong, suggesting sales will be weighted toward the second half of the fiscal year.

Snap shares sank 17% after the Snapchat parent posted a second-quarter loss of 16 cents a share, wider than Wall Street had expected.

Arista Networks stock rose 17% after both profits and revenue for its second quarter comfortably beat expectations. Guidance for the current quarter also topped estimates amid increased spending on cloud networking solutions.

Astera Labs surged 29% after the semiconductor company posted record quarterly revenue of $191.9 million, up 150% year over year, amid robust demand for AI products.

Shares of Walt Disney fell 2.7%, even after the entertainment giant posted quarterly earnings that surpassed expectations. Adjusted quarterly profit of $1.61 a share came in above analysts’ calls for $1.45, while revenue climbed 2% to $23.65 billion, beating forecasts of $23.69 billion. Late Tuesday, the entertainment giant struck a deal with the National Football League that will give Disney control of media assets such as the NFL Network in exchange for a 10% stake in ESPN.

Shopify was up 22%. The e-commerce platform posted second-quarter gross profit and revenue that topped estimates and provided a strong outlook for the third quarter. The report appeared to be giving other stocks a boost, namely Amazon.com and Walmart, which were up 4% and 4.1%, respectively.

Lucid Group tumbled 9.7% after the electric-vehicle maker logged another quarterly loss and lowered its 2025 production forecast.

Rivian Automotive, meanwhile, was down 4.2%. Rivian said it now expects a loss of $2 billion to $2.25 billion in adjusted earnings before interest, taxes, depreciation and amortization for the year, compared with its previous range of a loss of $1.7 billion to $1.9 billion.

U.S.-listed shares of Novo Nordisk fell 3.9% after the drugmaker reported second-quarter earnings. The company said it plans to cut costs and sharpen commercial execution. Novo preannounced preliminary earnings last week alongside a profit warning, causing the stock to fall 23%.

Emerson Electric declined 4.7%. The maker of industrial automation equipment reported fiscal-third-quarter sales that missed expectations and trimmed its full-year sales growth forecast to 3.5% from 4%. Emerson projects adjusted earnings of $6 a share for the full year, compared with a prior range of $5.90 to $6.05. Adjusted earnings of $1.52 a share in the latest quarter came in a penny higher than the Street’s forecast.

Match Group, the owner of Tinder, posted revenue of $863.7 million in the second quarter, topping the $854.1 million consensus estimate among analysts polled by FactSet. While paying users fell 5% in the quarter, partially driven by a 7% decline on Tinder, the metric rose 18% at Hinge. Match stock was up 11%.

Shares of Six Flags Entertainment plunged 21%. The amusement park operator slashed its full-year forecast for adjusted earnings before interest, taxes, depreciation, and amortization and announced the departure of CEO and President Richard Zimmerman, who has been in the role since Six Flags merged with Cedar Fair last year.

Uber Technologies fell 0.2%. The ride-hailing app reported second-quarter earnings of 63 cents a share on revenue of $12.65 billion, meeting and beating expectations, respectively. Concerns about competition from robo-taxi services appeared to be weighing on shares Wednesday.

Earnings reports were expected Wednesday from Novavax, Rockwell Automation, Unity Software, Airbnb, AppLovin, DraftKings, Duolingo, Exact Sciences, Lyft, Occidental Petroleum, and Zillow.

Write to Elsa Ohlen at elsa.ohlen@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com