These Stocks Moved the Most Today: Nvidia, AMD, CVS Health, Ares, Toll Brothers, SailPoint, Home Depot, and More

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

Key Points

• Nvidia slips after President Donald Trump indicates he plans to allow H200 AI chip sales to China.
• Ares Management surges as it is slated to join the S&P 500, replacing Kellanova, which is being acquired by Mars Inc.
• Toll Brothers declines after reporting fourth-quarter earnings that missed analysts’ estimates.

Stocks traded sideways Tuesday as investors awaited the Federal Reserve’s decision on interest rates.

These stocks made moves:

Nvidia slipped 0.3%. Shares initially rose after President Donald Trump said he planned to allow the company to sell its more advanced H200 artificial intelligence chip to China. Trump seemed to imply that Nvidia would pay a 25% fee on any sales to China. He said that Chinese leader Xi Jinping had “responded positively” to the plan, although it remains to be seen whether Beijing will allow Nvidia to sell the H200 in the country.

Trump said the Commerce Department will finalize the details, and the government will allow fellow chip makers Advanced Micro Devices and Intel to do similar deals. AMD rose 0.2% and Intel shares were up 0.5%.

CVS Health gained 2.2%. The healthcare company raised its adjusted earnings forecast and guided for higher revenue in 2025. On a non-adjusted basis, the company expects to post a narrower loss in the full year than previously anticipated.

AutoZone slid 7.2%. Fiscal first-quarter earnings came in at $31.04 a share, missing the $32.03 a share analysts had expected, according to FactSet. Revenue rose 8.2% to $4.63 billion, compared with Wall Street’s calls for $4.64 billion.

Home Depot fell 1.3%. In the fiscal year ending February 2027, the home-improvement retailer expects comparable sales growth of zero to 2%, and total sales growth of 2.5% to 4.5%. Home Depot’s outlook also signaled decelerating earnings growth in the fiscal year.

Ares Management jumped 7.3%. The asset manager, which specializes in private credit, is set to replace Kellanova in the S&P 500 ahead of the market open on Thursday. The Pringles and Pop-Tarts owner is being acquired by private company Mars Inc. in a deal that is expected to close soon.

Toll Brothers declined 2.4% after the luxury home builder missed analysts’ earnings estimates for its fourth quarter, although revenue came in above expectations. It has been a bumpy year for home builders, with high housing costs squeezing would-be buyers out of the market.

SailPoint fell 1.9%. Although the cybersecurity company beat analysts’ earnings and revenue forecasts in the fiscal third quarter, it issued a soft fourth-quarter outlook.

Ferguson Enterprises tumbled 8% as investors looked to take profits following a better-than-expected quarter. Guidance for the final two months of 2025 was also largely unchanged, with expectations for profit margins raised slightly to a midpoint of 9.5% from 9.4%.

Alexander & Baldwin, the Hawaiian real estate developer, is set to be taken private in a $1.54 billion cash deal. The company will be purchased for $21.20 a share by a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest. Shares of Alexander & Baldwin surged 38% to $20.85.

Norwegian Cruise Line Holdings declined 2.1% to $18.72 after the stock was downgraded to Neutral from Buy at Goldman Sachs with a price target of $21, down from $23. Viking Holdings, meanwhile, gained 1.7% after Goldman upgraded the stock to Buy from Neutral.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and George Glover at george.glover@dowjones.com