Today’s Market Movers: Nvidia, Cava, and Micron Lead Wednesday Gains

TLDR

• Nvidia rose 1.8% ahead of earnings, with Wall Street forecasting a 79% sales surge to $79 billion.
• Cava Group jumped 7.5% after beating Q1 earnings and revenue estimates, driven by 92 new restaurant openings.
• Micron climbed 4.1% after Samsung union talks collapsed, raising fears of a strike that could cut 3% of global memory chip output.
• Intel gained 4.3%, snapping a five-session losing streak to become one of the S&P 500’s top performers.
• Target posted its best quarterly sales growth since early 2022, with comparable sales up 5.6% and earnings beating estimates by 20%.

---

Stock futures edged higher Wednesday morning as investors waited on Nvidia’s quarterly earnings report, due after the closing bell. The session saw a handful of companies draw attention after strong earnings reports and unexpected corporate news.

Nvidia shares rose 1.8% ahead of its first-quarter results. Wall Street analysts polled by FactSet expect the chipmaker to report sales of $79 billion, which would represent a 79% increase from the same period last year. The company is the world’s leading maker of chips used in artificial intelligence systems.

NVIDIA Corporation, NVDA

Intel gained 4.3% Wednesday, making it one of the top performers in the S&P 500 before markets opened. The chipmaker had been falling for five straight sessions before snapping that streak on Tuesday.

Memory Chip Stocks Gain on Samsung Strike News

Micron Technology shares rose 4.1% after talks between Samsung Electronics and its union broke down. Union leaders confirmed a strike would go ahead from May 21 through June 7. Analysts at Jefferies said the disruption could affect about 3% of global memory chip production and push prices higher.

Cava Group jumped 7.5% after the Mediterranean restaurant chain reported first-quarter revenue of $434.4 million, up 32% from a year ago. Same-restaurant sales grew 9.7%, and the company opened 92 net new locations over the past year. Traffic increased 6.8%, and the company raised its 2026 comparable sales growth outlook to between 4.5% and 6.5%.

Target shares gained 1.5% after reporting comparable sales growth of 5.6%, its strongest quarterly result since early 2022. The retailer earned $1.71 per share, well above the $1.42 analysts had expected.

Other Movers

Immunovant surged 25% despite reporting a wider-than-expected loss of 73 cents per share against an estimated 59-cent loss. Investors focused on week-16 trial data for the company’s autoimmune disease drug candidate, which analysts viewed positively.

Lowe’s fell 1.6% even after beating earnings estimates. The home improvement retailer reported adjusted earnings of $3.03 per share, above the $2.97 Wall Street expected. Revenue came in at $23.1 billion, up from $20.9 billion a year earlier. Comparable sales rose 0.6%.

Toll Brothers gained 2.3% after the luxury homebuilder beat first-quarter earnings estimates. The result suggested demand for higher-end homes remained steady despite broader concerns about affordability and builder sentiment.

AMC Entertainment rose 8% after CEO Adam Aron disclosed he purchased 250,000 shares for about $344,000, bringing his directly held stake to more than 2.43 million shares. Aron said he has confidence in AMC and the 2026 and 2027 box office outlook.

Roblox shares gained 3% after the company announced a stock buyback program of up to $3 billion, including plans to repurchase up to $1 billion in shares over the next 12 months.

8×8 surged 17% after reporting stronger-than-expected fourth-quarter results, with adjusted earnings of 11 cents per share and revenue of $185.2 million, both above analyst forecasts.

Analog Devices rose 0.9% after beating earnings estimates for its fiscal second quarter and announcing a $1.5 billion cash deal to acquire power chip maker Empower Semiconductor.

Viavi Solutions fell 6% after the company announced a public offering of 11.11 million shares at $45 each, targeting gross proceeds of around $500 million to repay debt.

The post Today’s Market Movers: Nvidia, Cava, and Micron Lead Wednesday Gains appeared first on CoinCentral.