Stocks making the biggest moves Thursday: BA, NVDA, CRM, ELF
Check out the companies making headlines in Thursday trading. Salesforce — The customer relations management software maker’s shares traded 5% lower on Thursday after the company posted its latest quarterly results. RBC Capital Markets downgraded the stock, citing execution risks if the company continues acquiring. Salesforce did beat fiscal first-quarter estimates and raised its full-year outlook, and posted results a day after announcing plans to acquire data management company Informatica. C3.ai — Shares of the enterprise artificial intelligence company surged 23% after C3.ai reported strong results for its fiscal fourth quarter. The company posted a narrower-than-expected loss of 16 cents per share, less than the 20 cent loss analysts polled by LSEG had estimated. Revenue of $108.7 million exceeded the anticipated $107.8 million. Tesla — Shares added as much as 3% after CEO Elon Musk said in a post on X that his “scheduled time” for government work is coming to an end, signaling his departure from the Department of Government Efficiency under the Trump administration. The news comes as Musk has faced increased criticism for dedicating too much time to his work with the government and not enough to his companies. Nvidia — The chipmaker’s shares jumped 3% after Nvidia’s fiscal first-quarter adjusted earnings and revenue beat Wall Street forecasts, even as the company’s sales took a hit from U.S. semiconductor export restrictions to China. A handful of other chip stocks, including Advanced Micro Devices and Broadcom , rose in sympathy. Boeing – The aircraft maker’s shares gained more than 2% and hit a 52-week high after CEO Kelly Ortberg said its airplane deliveries to China will resume next month after handovers were paused amid a trade war with the Trump administration. He also said Boeing could ramp up production of its best-selling Max jets to 47 a month by the end of the year. E.l.f. Beauty — Shares surged 22% after the cosmetics company posted earnings and revenue that beat analyst expectations. The company also plans to acquire Hailey Bieber’s beauty brand Rhode in a deal worth up to $1 billion . Fellow beauty stocks Estée Lauder and Coty added 4% in tandem. Best Buy — The electronics retailer slipped more than 9% after the company missed quarterly revenue expectations and lowered its full-year guidance for sales and adjusted earnings per share. Best Buy’s CFO said the reduced outlook was due to tariffs. Tariff-exposed stocks — A handful of retail stocks with significant exposure to tariffs rose on Thursday after the U.S. Court of International Trade on Wednesday blocked President Donald Trump’s reciprocal tariffs and ordered the administration to stop collecting them. Lululemon shares gained 0.8%, while Deckers Outdoor added about 2.6%. Veeva Systems — The cloud-computing company jumped 19% after its first-quarter results beat analyst expectations. Veeva earned an adjusted $1.97 per share on revenue of $759 million. Analysts expected earnings of $1.74 per share on revenue of $728.4 million, according to FactSet. Southwest Airlines — The airline stock gained more than 2% after receiving an upgrade to buy from hold at Deutsche Bank. The bank believes that Southwest’s new board following its deal last year with activist investor Elliott Investment Management could improve shareholder returns. HP — The stock sank 8% after the personal computing company issued disappointing guidance, citing tariffs. HP anticipates fiscal third-quarter adjusted earnings to come in between 68 cents and 80 cents per share, short of the LSEG consensus estimate of 90 cents a share. Its second-quarter adjusted earnings of 71 cents per share also missed the 80 cents expected from analysts. SentinelOne — Shares of the cybersecurity stock traded 11% lower. SentinelOne gave weak guidance, expecting second-quarter revenue to come out at $242 million, while analysts polled by LSEG expected $245 million. For the first quarter, SentinelOne reported 2 cents per share in adjusted first-quarter earnings, in line with an LSEG consensus estimate. United Airlines , JetBlue — United Airlines added 1.8%, while JetBlue lost 3%, after the companies announced a deal that allows customers of either airline to earn frequent flyer miles on the other. The deal entails that United Airlines will return to New York’s John F. Kennedy International Airport, which it left in 2015. — CNBC’s Lisa Han, Sean Conlon, Yun Li and Michelle Fox contributed reporting.
