Noteworthy S&P 500 Movers on Wednesday

Advancers

• Robinhood Markets (HOOD) shares soared nearly 11% to lead the S&P 500 higher. The trading platform operator announced a plan to acquire a stake in LedgerX, a clearinghouse for cryptocurrency derivatives, in coordination with Susquehanna International Group. With the move, Robinhood is expanding its offerings in prediction markets, which allow customers to trade contracts based on the outcome of future events.
• Shares ofDell Technologies(DELL) jumped close to 6% after the maker of PCs, servers, and networking equipment raised its full-year sales and profit outlook. The company said it's seeing strong AI-driven demand, with record AI server orders totaling more than $12 billion year-to-date.
• Oracle(ORCL) stock gained 4% Wednesday. Shares of the database software and cloud infrastructure giant have suffered significant losses over the past month amid concerns about the company's relationship with OpenAI, its high valuation, and its heavy AI spending plans. However, analysts at HSBC and Deutsche Bank suggested the sell-off could be overdone.

Decliners

• Shares ofWorkday (WDAY), a provider of cloud-based human resources software, tumbled nearly 8% to post the steepest daily loss in the S&P 500. Although Workday's third-quarter results were mostly in line with expectations, its fourth-quarter subscription revenue forecast failed to impress. The company pointed to soft demand from higher education customers that rely on federal funding and a cautious spending environment among corporate customers.
• Deere & Company (DE) shares declined close to 6% after the farm and construction equipment manufacturer warned that a tough market environment could persist into next year. CEO John May indicated tariffs were contributing to pressure on Deere's margins and pointed to challenges across the broader agricultural sector.

-Michael Bromberg

Why This Health Care Stock Has Gained 35% This Week

Shares of Oscar Health (OSCR) jumped Wednesday, the latest big gain for the health insurer after Piper Sandler analysts upgraded their rating of the stock in a recent note to clients.

The analysts upgraded their rating to "overweight," and lifted their price target to $25 from $13 previously. Piper Sandler is now the lone "buy" rating on Oscar among the six analysts tracked by Visible Alpha, alongside one "hold" and four "sell" ratings, and an average price target of $15.

Oscar shares were up 9% in late trading Wednesday at around $18.20, and have gained about 35% this week alone.

Oscar and several other health-related stocks surged Monday following a report that the White House was considering including an extension of subsidies that lowered the cost of Affordable Care Act plans in its yet-to-be-released plan to revamp the U.S. health care system.

Read the full articlehere.

-Aaron McDade

Americans Add Surplus-Food Shopping to Their List of Money-Saving Grocery Hacks

Americans will spend Thanksgiving Day around tables loaded with food. But even while they’re filling up, many are looking to scale back on spending. One tactic they’re trying? Snagging sellable food before it heads to the waste heap. 

American consumers, according to a recent reading, are feeling less optimistic about the economy and their finances for reasons including the rising cost of necessities. While spending hasn’t come to a halt, experts say price-conscious shoppers are focused on hunting for deals, clipping coupons, trading down on brands and buying less of everything—including food and beverages.

Some shoppers are increasingly checking out deeply discounted surplus or soon-to-be-discarded vegetables, fruits, meats, frozen and refrigerated foods, deemed safe for consumption but are otherwise seen as less suitable for store shelves because of imperfections or looming expiration dates.

“It’s not so much that food itself is so much more expensive,” said Kimberly Palmer, personal finance expert with NerdWallet. “It’s that everything else–housing, utilities, consumer goods across the board–is pressing on their budgets. That means spending on food, which is a huge and … variable portion of most household budgets, will be cut back, especially for lower-income households.”

In July, Kroger (KR) partnered with FlashFood, a company with an app-based service that works with grocers to connect consumers with discounted groceries at up to 50% off store prices that would otherwise be tossed away. 

Read the full articlehere.

-Parija Kavilanz

Campbell's Fires Exec for 'Vulgar, Offensive and False' Comments About Colleagues, Company's Products

A Campbell's Co. (CPB) executive who allegedly was recorded making racist comments about his colleagues and disparaging the company's products no longer is employed by the soup maker.

Campbell's said Wednesday that "after a review, we believe the voice on the recording is in fact Martin Bally," a vice president in its IT department. "The comments were vulgar, offensive and false, and we apologize for the hurt they have caused. This behavior does not reflect our values and the culture of our company, and we will not tolerate that kind of language under any circumstances. As of November 25, Mr. Bally is no longer employed by the company."

Last Thursday, former employee Robert Garza released the recording "in connection with a lawsuit he filed against the company which alleges retaliation for raising complaints about Mr. Bally," Campbell's said, adding that "neither Mr. Garza nor his lawyer ever notified us of the existence of an audio recording."

Bally allegedly said Campbell's soup is for "poor people" and has "chicken that came from a 3-D printer," and disparaged Indian colleagues, according to Local 4 News in Detroit. (Garza filed the lawsuit in Wayne County Circuit Court, where Detroit is located; Campbell's is based in Camden, N.J.)

"The chicken meat in our soups comes from long-trusted, USDA approved U.S. suppliers and meets our high quality standards," Campbell's said. "All our soups are made with No Antibiotics Ever chicken meat. Any claims to the contrary are completely false. "

Campbell's shares were little changed Wednesday afternoon. They are down more than 25% this year.

This PC Maker's Stock Is Soaring on a Stronger Outlook, Thanks to AI

Dell Technologies (DELL) shares jumped Wednesday after the PC maker hiked its outlook, pointing to a boost from AI-driven demand.

The shares were up nearly 6% in recent trading, making Dell one of the best-performing stocks in the S&P 500 Wednesday. (Read our daily markets coverage here.)

Chief Operating Officer Jeff Clarke said “AI momentum is accelerating in the second half of the year, leading to record AI server orders of $12.3 billion and an unprecedented $30 billion in orders year to date.”

Dell boosted its full-year revenue forecast to $111.2 billion to $112.2 billion, up from $105 billion to $109 billion previously. It now sees adjusted earnings per share of $9.92 at the midpoint, compared to an earlier forecast of $9.55. Both the revenue and profit projections topped analysts' estimates compiled by Visible Alpha.

Read the full articlehere.

-Bill McColl

Robinhood's Latest Prediction Markets Move Has Its Stock Flying

Robinhood's latest venture raises the prediction-markets stakes.

The U.S. brokerage made popular by offering slices of stocks to retail investors is launching a futures and derivatives exchange in a bid to expand its prediction markets business. Robinhood (HOOD) announced Tuesday that the exchange will be managed by a joint venture with market maker Susquehanna International Group.

Its shares were up 10% as of Wednesday afternoon, solidifying Robinhood's position among the top gainers within the benchmark S&P 500.

Robinhood aims to be a one-stop shop for trading in stocks, crypto, and events contracts as well as banking and mortgage services. While it faces fierce competition in rivals like Polymarket, which yesterday announced receiving a regulatory nod to resume U.S. operations, Robinhood could also attract partners that want to get into the events-markets action but don't have the infrastructure to do so.

Robinhood's new venture comes with an acquisition—a 90% stake in MIAXdx, a CFTC-licensed derivatives clearing house; the deal is expected to close in the first quarter of next year. Miami International Holdings (MIAX) will retain the remaining shares. The company said its new exchange would serve its derivatives business and other futures commission merchant platforms.

A Robinhood spokesperson said its derivatives business "plans to continue to partner with multiple DCM/DCO partners," referencing the entities where derivatives contracts are executed and settled. "There will be no changes in the short term" for that business's customers, the spokesperson said. Robinhood offers some of its event contracts through Kalshi, another dominant player in predictions markets.

"Prediction markets are really on fire," Robinhood CEO Vlad Tenev said during the company's third-quarter earnings call earlier this month, according to a transcript provided by AlphaSense. Robinhood has doubled volume in that business every quarter since it launched roughly a year ago, according to the company, reaching 2.3 billion contracts in the third quarter.

-Crystal Kim

Salesforce Stock Leads Dow Decliners After Citi Cuts Price Target

Only one stock in the Dow Jones Industrial Average had a decline of more than 0.5% in recent trading: Salesforce (CRM).

Shares of the software firm were down nearly 3% in recent trading after Citi cut its price target on the stock to $253 from $276.

Citi analysts affirmed their "neutral" rating on the stock, but wrote that "Agentforce production remains limited, with most anecdotes pushed by [Go-to-Market] teams more than pulled by customers. We await wider rollouts and evidence of commercialization before considering turning more constructive."

Of the 30 Dow components, only five others were in the red.

Salesforce stock has lost nearly a third of its value this year.

Zscaler Stock Sinks on Gross Margin, Profitability Concerns

Zscaler (ZS) was the worst-performing stock in the Nasdaq Wednesday afternoon, even though the cloud security firm's fiscal 2026 first-quarter results topped estimates and it issued a rosy full-year forecast.

Shares sank 10% in recent trading, a day after the San Jose, Calif.-based company reported adjusted earnings of $0.96 per share on revenue that increased 26% year-over-year to $788.1 million. Analysts polled by Visible Alpha had expected $0.86 and $773.6 million, respectively.

For fiscal 2026, Zscaler sees adjusted EPS of $3.78 to $3.82 and revenue of $3.282 billion to $3.301 billion, both above expectation.

However, on aGAAP basis, Zscaler recorded a Q3 net loss of $11.6 million, or $0.07 per share, and its adjusted gross margin slipped to 80% from 81% a year ago.

Despite today's sharp declines, Zscaler shares remain up more than 40% this year.

HP Joins Big Tech Companies Laying Off Workers Amid AI Push

Computer and printer maker HP's (HPQ) stock slid Wednesday, a day after the company announced a major cost-cutting plan that includes layoffs.

The company said it aims to eliminate between 4,000 and 6,000 roles as part of its efforts to save $1 billion over the next three fiscal years. For HP, which said it had about 58,000 employees in its latest annual filing, the cuts could represent up to 10% of its workforce.

Meanwhile, CEO Enrique Lores told investors during Tuesday's earnings call that the company plans to continue investing in AI-related initiatives as it sees "a significant opportunity to embed AI into HP to accelerate product innovation, improve customer satisfaction, and boost productivity," according to a transcript provided by AlphaSense.

The move makes HP the latest tech company to announce layoffs despite business looking solid in its latest quarter, highlighting what could be growing trend. A number of tech giants, including Amazon (AMZN) and Microsoft (MSFT), have also undertaken layoffs in recent months, while ramping up their AI efforts.

Read the full articlehere.

-Aaron McDade

Big Changes Coming to the Fed—And Interest Rates—Next Year If This Frontrunner Gets Powell's Job

Kevin Hassett, the reported frontrunner to take over as Federal Reserve chair in May, has a recent track record of advocating for the central bank lowering interest rates.

Hassett is the leading candidate to replace Federal Reserve Chair Jerome Powell when his term ends in May, Bloomberg reported this week. President Donald Trump is expected to announce his choice for the Fed chair nominee in the coming weeks.

Hassett is a top economic advisor to Trump, currently serving as Director of the National Economic Council. In recent media interviews, Hassett has criticized the current leadership of the Fed for not lowering interest rates quickly enough, aligning with his current boss's views.

The central bank has already cut interest rates by a quarter-point at each of its last two meetings, and is now expected to do so again at its next meeting in December. However, the 12 officials who vote on policy are divided about whether to keep rates higher for longer to push down inflation that's still running above the Fed's target of a 2% annual rate, or to lower them to help boost the ailing job market.

Read the full articlehere.

-Diccon Hyatt

Apple to Surpass Samsung in Global Smartphone Shipments for 1st Time in 14 Years, Counterpoint Research Says

For the first time in 14 years, Apple (AAPL) will have more global smartphone shipments than Samsung, a research note says.

Counterpoint Research wrote that the iPhone maker's global shipments "will reach a global share of 19.4% in 2025, making Apple the world's No.1 smartphone [original equipment manufacturer] for the first time since 2011."

Global shipments from South Korea's Samsung are "expected to grow 4.6% YoY and reach a global share of 18.7%, yet the company will relinquish the top spot it has held for more than a decade," Counterpoint wrote.

Apple shares rose about 1% early Wednesday afternoon and have gained 11% this year.

Deere Is Not Out of the Woods Yet. Here's Why the Stock is Falling Today

Shares of Deere & Company (DE) fell Wednesday morning after the maker of large farm and construction equipment gave a weak forecast and warned that "difficult market conditions" will continue for a while longer.

In the company’s fourth-quarter fiscal 2025 earnings report, CEO John May said "ongoing margin pressures from tariffs and persistent challenges in the large ag sector remain." He added that Deere believes "2026 will mark the bottom of the large ag cycle."

The company predicts next year’s net income will be in a range of $4.00 billion to $4.75 billion. Analysts surveyed by Visible Alpha were looking for $5.19 billion.

The outlook offset a strong fourth quarter. Deere reported earnings per share of $3.93, with revenue up 11% to $12.39 billion. Both exceeded the Visible Alpha estimates.

Read the full articlehere.

-Bill McColl

Workday Stock Leads S&P 500 Decliners Despite Strong Results, Full-Year Subscription Outlook

Workday (WDAY) reported better-than-expected third-quarter results and issued a rosy full-year subscription revenue outlook. Investors are punishing the stock nevertheless.

After the closing bell yesterday, the HR software company posted third-quarter adjusted earnings of $2.32 per share on revenue that increased nearly 13% year-over-year to $2.43 billion. Analysts surveyed by Visible Alpha had expected $2.16 and $2.42 billion, respectively.

In addition, Workday projected full-year subscription revenue of $8.828 billion, which would represent more than 14% growth and was above consensus estimates. However, the Pleasanton, Calif.-based firm's current-quarter forecast for subscription revenue of $2.355 billion was merely in line with expectations.

Workday was the worst-performing stock in the S&P 500 in recent trading, with shares sinking 10%. The stock now is down almost 20% this year.

Retailers Hype—and Hope for—a Busy Black Friday This Year

Let the cash registers ring.

Retailers are working hard to beckon Americans on Black Friday, one of the busiest shopping days of the year. Companies are rolling out digital wishlists, running sweepstakes, and setting up elaborate in-store displays. Nordstrom’s flagship Seattle store will feature funhouse-style mirrors and digital palm readings, and Bloomingdale’s will wrap its Manhattan headquarters in a jumbo Burberry scarf.

Millions of Americans are expected to browse and buy between Thanksgiving and Cyber Monday, though many started their holiday shopping early this year. Online sales this Friday may total $18 billion, according to estimates from Salesforce, which provides software to retailers. The five-day "cyber week"—from Thanksgiving to Monday—may bring $78 billion in sales, Salesforce said.

The National Retail Federation expects holiday-season spending to crack $1 trillion for the first time. But the 3.7% to 4.2% year-over-year increase NRF is expecting comes as inflation is trending near 2.7%. and consumer confidence is sliding. Some surveys show Americans aim to spend less this year and, by some accounts, even affluent Americans may be experiencing fatigue.

Read the full articlehere.

-Sarina Trangle

Robinhood Stock Surges on Latest Prediction Markets Offering

Robinhood Markets (HOOD) is leaning into prediction markets. Traders are leaning into the stock.

Shares of Robinhood surged 6.5% to pace S&P 500 gainers early Wednesday, a day after the trading platform announced it would be partnering with Susquehanna International Group on a futures and derivatives exchange and clearinghouse.

"Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum," Robinhood VP and General Manager of Futures and International JB Mackenzie said. "Our investment in infrastructure will position us to deliver an even better experience and more innovative products for customers."

Prediction markets are Robinhood's fastest-growing product line by revenue, with 9 billion contracts traded by more than 1 million customers in its first year since launch, the company said.

In a related move, the exchange is acquiring MIAXdx, a wholly owned subsidiary of Miami International Holdings (MIAX) that clears and executes derivatives trades. Miami International will hold a 10% equity stake in the exchange, which is expected to launch in 2026, Robinhood said. Miami International shares rose about 2% Wednesday.

Robinhood shares have more than tripled this year.

A December Fed Cut Is in Play Again—But What Would It Really Mean for Mortgage Rates?

Financial markets are once again betting the Federal Reserve will cut its benchmark interest rate by a quarter point at its Dec. 10 meeting, assigning a nearly 85% probability at the time of this writing.

That’s a sharp pivot from just a week ago, when odds were split on whether the Fed would cut or hold, and even more dramatic given that as recently as five days ago, markets were widely expecting a December pause.Part of the volatility stems from the lack of timely government data following the recent shutdown. But it also reflects the competing pressures the Fed is trying to balance. Inflation remains higher than policymakers want—typically an argument for keeping rates elevated—while the job market has shown signs of weakness, which would normally support a case for cuts.

On Friday, though, public comments from a key Fed policymaker saying he was open to a December cut quickly shifted sentiment. Fed-funds futures traders moved to price in a strong probability of a committee-announced cut on Dec. 10, reversing the earlier expectation of a hold.

All of this underscores how quickly rate-cut expectations can swing. Markets react not only to economic data but also to how investors read the Fed’s communications, broader financial conditions, and even geopolitical risks. With so many moving parts, the odds of a December cut could shift again before the meeting.

Read the full articlehere.

-Sabrina Karl

This AI Chip Stock Is Getting a Big Boost From Google's Hot Streak

Alphabet's stock has been on a roll lately. One big beneficiary of that move? Broadcom.

The rise in shares of Alphabet, Google's parent company, has helped inject some energy back into a flagging AI trade. That's had knock-on effects on a range of tech stocks—though few have benefitted as much as Broadcom (AVGO), which counts Google as a major customer for its AI chips.

Broadcom's shares have surged recently, climbing along with Alphabet's (GOOGL, GOOG), which have been lifted by a series of positive developments for the cloud giant from a vote of confidence from Warren Buffett's Berkshire Hathaway to an upbeat reception for its latest AI model and signs of a new deal involving its chips.

Alphabet shares advanced around 2% to finish at a fresh high Tuesday, and have added about 17% since Berkshire's stake was revealed in a regulatory filing a little over a week ago.

Read the full articlehere.

-Kara Greenberg

Autodesk Stock Pops as Digital Design Software Maker Raises Full-Year Outlook

Autodesk's finance chief says the digital design software maker has "current momentum." Shareholders appear to agree.

Shares of Autodesk (ADSK) surged 8% in premarket trading Wednesday, a day after the firm reported third-quarter results above expectation and lifted its full-year outlook.

The San Francisco-based company, which is known for its AutoCAD software, posted adjusted earnings of $2.67 per share on revenue that rose 18% year-over-year to $1.85 billion. Analysts surveyed by Visible Alpha expected $2.50 and $1.81 billion, respectively.

Autodesk raised its full-year projections for adjusted EPS to $10.18 to $10.25 from the previous range of $9.80 to $9.98, and for revenue to $7.15 billion to $7.165 billion, up from $7.025 billion to $7.075 billion.

"The macroeconomic environment has been broadly stable though uncertainty remains elevated, and we have so far successfully executed our sales and marketing optimization plan," Autodesk CFO Janesh Moorjani said. "We are raising our full-year guidance to reflect the current momentum of the business."

Autodesk shares entered Wednesday near flat on the year.

Polymarket Just Got CFTC Sign-Off. Prediction Markets Are on the March

Polymarket is back on American shores.

The popular predictions marketplace operator said late Tuesday that the Commodity Futures Trading Commission cleared the way for U.S. customers to bet on events—whether they're central bank policy moves or how the Packers will fare against the Lions come Thanksgiving—through their brokerages.1

Polymarket's regulatory clearance to return to the U.S. coincides with a boom in events trading, with pretty much every fintech platform from Robinhood (HOOD) to Coinbase Global (COIN), along with sports gambling purveyor DraftKings (DKNG) and Trump Media & Technolgy (DJT), angling for a piece of the action.

Experts believe something akin to a gold rush could come to the predictions business. Bank of America analysts earlier this month noted that more than two dozen sportsbooks were chasing users in 2020, with many taking steep losses along the way. "Unchecked, this is what [prediction markets] could look like in 2026," they wrote.

Prediction markets continue to extend into a range of forums. Yahoo Finance earlier this month said Polymarket would power a prediction markets hub. And Google said it would add "support for prediction markets data" from Kalshi and Polymarket.

Read the full articlehere.

-Crystal Kim

Stock Futures Point Further Higher Entering Thanksgiving Holiday

Futures contracts tied to the Dow Jones Industrial Average were up 0.2%.

S&P 500 futures advanced 0.3%.

Nasdaq 100 futures rose 0.4%.