These Stocks Moved the Most Today: Tesla, Alphabet, Texas Instruments, Enphase, GE Vernova, Cal-Maine, Fiserv, Lamb Weston, and More

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

Stocks rallied Wednesday, with the S&P 500 and Nasdaq Composite setting new closing highs, as the U.S. and Japan reached a trade agreement.

These stocks moved Wednesday:

Tesla rose 0.1% ahead of second-quarter earnings from the maker of electric vehicles. Coming into the report Wednesday, Tesla has risen three of the past five days but has declined nearly 18% this year, according to Dow Jones Market Data.

Alphabet fell 0.6% ahead of its quarterly earnings report. Alphabet had closed higher for 10 straight sessions, rising 9.7% over the span.

Texas Instruments reported second-quarter earnings and revenue that beat analysts’ estimates but shares of the semiconductor company declined 13% after it issued a disappointing earnings forecast for the third quarter. The company expects third-quarter earnings of $1.36 to $1.60 a share, which at the midpoint was below Wall Street consensus of $1.51. Texas Instruments said the auto market has yet to recover and the risk from new tariffs in the future wasn’t over.

AT&T was up 1.2% as the telecommunications company posted adjusted earnings in the second quarter of 54 cents a share on revenue of $30.8 billion, topping analysts’ estimates on both metrics. The company said it expects to save $6.5 billion to $8 billion from President Donald Trump’s tax bill. AT&T laid out a plan to invest $3.5 billion worth of those savings into building out its fiber network.

GE Vernova rose 15% after the power company reported better-than-expected second-quarter earnings and raised its full-year financial guidance.

Second-quarter operating profit and revenue at SAP rose from a year earlier and the German enterprise software maker backed its previous full-year guidance. Shares listed in the U.S., however, were down 5%. Cloud revenue in the second quarter rose 24% to €5.13 billion but missed estimates of €5.18 billion.

Enphase Energy was down 14% after the maker of solar-power inverters topped earnings and revenue estimates in the second quarter but said it anticipates third-quarter revenue of $330 million to $370 million versus consensus of $368.5 million.

Fiserv declined 14% after the provider of payment and financial-services technology solutions narrowed its growth targets for full-year earnings and organic revenue. The company expects revenue up about 10%, compared with a previous expectations of between 10% and 12%.

Lamb Weston jumped 16% after the producer of frozen potato products reported fiscal fourth-quarter earnings that easily topped Wall Street expectations and introduced a new cost savings program that included layoffs of 4% of the company’s workforce.

Cal-Maine Foods rose 14% after reporting a large jump in fiscal fourth-quarter earnings and revenue that soared 72% to $1.1 billion as the egg producer and distributor said its net average selling price per dozen eggs increased 55% to $3.31 and it sold 311.4 million dozen shell eggs, up 9% from a year earlier.

In addition to reports from Tesla and Alphabet, earnings reports were expected after the closing bell Wednesday from International Business Machines, T-Mobile, ServiceNow, O’Reilly Automotive, Chipotle Mexican Grill, and CSX.

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