Major US stocks experienced significant fluctuations on Thursday as a result of various announcements and earnings reports from prominent companies. Here are some key developments that had an impact on stock prices:
Salesforce, the customer relations management software maker, saw its shares decline 5% after releasing its latest quarterly results. The company announced better-than-expected revenue but cited execution risks if it continues to acquire new businesses.
In contrast, C3.ai’s shares surged 23% following strong fiscal fourth-quarter earnings. The enterprise artificial intelligence company reported a narrower loss and exceeded revenue expectations.
Tesla’s stock jumped by up to 3% after CEO Elon Musk announced his departure from the Department of Government Efficiency under the Trump administration. This news comes as Musk has faced criticism for dedicating too much time to government work, potentially affecting his commitment to Tesla.
Nvidia’s shares also rose 3% after beating Wall Street forecasts for adjusted earnings and revenue in its fiscal first-quarter report. The chipmaker cited U.S. semiconductor export restrictions to China as a factor behind the sales decrease.
Meanwhile, E.l.f. Beauty surged 22% after surpassing analyst expectations with its earnings and revenue reports. The company is set to acquire Hailey Bieber’s beauty brand Rhode for up to $1 billion.
On the other hand, Best Buy slipped over 9% after missing quarterly revenue expectations and lowering its full-year guidance due to tariffs. This is a common issue for companies exposed to tariffs in the US retail sector.
Other notable stocks include Veeva Systems, which jumped 19% following its first-quarter results beating analyst expectations; Southwest Airlines, which received an upgrade to buy from Deutsche Bank; and SentinelOne’s shares declined by 11%. United Airlines and JetBlue also saw significant changes in their stock prices as a result of their announced partnership.
Source: https://www.cnbc.com/2025/05/29/stocks-making-the-biggest-moves-thursday-ba-nvda-crm-elf.html