By Mackenzie Tatananni, George Glover, Joe Woelfel, and Kit Norton
Stocks were mostly higher Wednesday as investors responded to the latest U.S. wholesale inflation report showing producer prices soared in April, raising the chance of higher interest rates by the end of the year. Investors also awaited President Donald Trump's meeting with Chinese leader Xi Jinping in Beijing.
These stocks were making moves:
Micron Technology jumped 3.8%, Nvidia added 2.2%, and Qualcomm gained 2.6% as investors moved back into chip stocks, which have helped power the market higher in recent weeks. Micron CEO Sanjay Mehrotra, Nvidia CEO Jensen Huang, and Qualcomm CEO Cristiano Amon were among the executives traveling to China with Trump.
U.S.-listed shares of Alibaba jumped 7.7%. The Chinese e-commerce giant posted a fiscal fourth-quarter net profit of 23.50 billion yuan ($3.41 billion), nearly double last year's due to gains on investments. But adjusted net income came to 86 million yuan, marking a nearly 100% drop year over year. Revenue rose 3% to 243.38 billion yuan.
Ford Motor surged 13%, leading the S&P 500. The reasons for the move were unclear. On Monday, the legacy automotive company introduced "Ford Energy," which will deliver "United States-assembled battery energy storage systems for utilities, data centers, and large industrial and commercial customers in the United States." Tesla has pioneered energy storage, using the same batteries to power electric vehicles to store energy.
Fervo Energy soared 40% to $37.75. Shares of the Houston-based geothermal energy firm, which drills deep into the earth to harness steam to generate electricity, jumped minutes after making their debut on the Nasdaq on Wednesday. Fervo sold $1.9 billion worth of shares at $27 each late Tuesday, in the largest energy or utility initial public offering since 2013, according to Renaissance Capital. The company is backed by Bill Gates.
Nextpower advanced 9.9%. The solar tracking company surpassed fiscal 2026 fourth-quarter earnings expectations and raised its fiscal 2027 revenue outlook based on a backlog north of $5 billion amid strong demand for its solar energy products.
Nebius rallied 18% after the cloud provider posted first-quarter earnings that topped expectations. Although the company's adjusted loss deepened, the figure was narrower than what analysts had anticipated.
Wix.com tumbled 24% after the company's first-quarter earnings and revenue underperformed Wall Street expectations. The cloud-based website builder reiterated that it sees 2026 revenue and booking growing in the mid-teens percentage year-over-year "despite a softer start to the year."
Akamai Technologies added 6% to $158.50. Bank of America upgraded the cloud computing company to Buy from Neutral, hiking its stock price target to $175 from $130. That price target currently represents around 10% upside. The upgrade came after Akamai announced last week a $1.8 billion deal with an unnamed artificial-intelligence company.
Coherent advanced 10% to $411.84. BofA Securities maintained a Neutral rating on the shares while raising the price target to $400 from $365, citing higher projections for the 2030 total addressable market for data-center systems. Lumentum, which usually moves in tandem with its peer, gained 5.5%.
Oklo sank 5%. The nuclear start-up reported a narrower-than-expected loss for the first quarter, even though it still has no revenue. Oklo cleared a major regulatory hurdle last week when the Nuclear Regulatory Commission approved a foundational rulebook for its Aurora power plant.
Wolfspeed rose 18% following a recommendation by Citrini Research, the firm behind the viral blog post in February that presented a scenario in which artificial intelligence ravages the economy by 2028.
Dynatrace slumped 14% even as the software company reported better-than-expected earnings for its fiscal fourth quarter. Subscription annual recurring revenue, a key performance metric, was slightly lower than anticipated.
EchoStar climbed 3.8%. The Federal Communications Commission confirmed late Tuesday that it had approved EchoStar's sale of wireless spectrum to AT&T and SpaceX.
Karman Holdings rose 4.5% after the drone maker's first-quarter earnings missed analysts' expectations, overshadowing a 51% surge in revenue.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com, George Glover at george.glover@dowjones.com, Joe Woelfel at joseph.woelfel@barrons.com and Kit Norton at kit.norton@barrons.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
May 13, 2026 14:22 ET (18:22 GMT)
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