By Mackenzie Tatananni, George Glover, and Joe Woelfel
Stocks were rising Wednesday as investors digested stronger-than-expected February retail sales and March private payroll growth, and awaited clearer updates on the war in Iran.
These stocks were making moves:
Intel gained 10%. The chip maker agreed to buy back Apollo Global Management's stake in a joint venture related to its Ireland factory. Intel plans to fund the $14.2 billion transaction using cash on hand and proceeds from the issuance of roughly $6.5 billion worth of new debt.
Fellow chip companies were leading the S&P 500. Western Digital and Seagate Technology rose 12% and 9%, respectively. Micron Technology and Sandisk each gained 11%.
Nike slumped 14%. The selloff came after the sportswear retailer beat earnings and revenue expectations in its fiscal third quarter but said that it expects sales to fall between now and the end of the year.
RH cratered 23%. The home-furnishings company missed analysts' fiscal fourth-quarter earnings and revenue targets as tariffs and bad weather weighed on demand.
Chevron and Exxon Mobil declined 4.9% and 5.2%, respectively, as investors awaited an end to war in Iran war, sparking a sharp drop in oil prices.
Shares of banking software developer nCino jumped 12% on the heels of b etter-than-expected earnings for the fiscal fourth quarter and solid revenue guidance.
Eli Lilly was up 5.3%. The drugmaker's once-daily weight-loss pill, Foundayo, will be available through its LillyDirect online pharmacy this month after securing U.S. regulatory approval.
Former meme stock Beyond Meat slumped 11%. The plant-based protein company reported a drop in fourth-quarter revenue and said it wouldn't file its annual report on time due to weaknesses in internal control over financial reporting.
Cal-Maine Foods rose 5.8%. The egg producer's fiscal third-quarter earnings topped analysts' estimates, as did revenue of $667 million, which handily beat calls for $642.5 million.
Lamb Weston tumbled 4.6%. The company, which supplies restaurants like McDonald's with frozen french fries, reported mixed sales performance across customer segments for the fiscal third quarter. Gross profit declined and manufacturing costs rose in the period.
Marvell Technology added 7%. The stock looked set to extend its gains from the previous session, when it rose nearly 13%. Marvell got a boost on Tuesday after Nvidia vowed to invest $2 billion in the semiconductor company as part of a new partnership.
Microsoft ticked up 0.6%. The tech behemoth pledged to invest $5.5 billion in cloud and artificial-intelligence infrastructure in Singapore from 2025 to the end of 2029. The spending "reflects Microsoft's long-term confidence in Singapore as a global digital leader," Vice Chair and President of Microsoft Brad Smith said.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 01, 2026 12:05 ET (16:05 GMT)
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