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U.S. stocks increased on Wednesday as investors awaited Nvidia’s highly anticipated earnings report.
New home sales data released in the morning showed sales of new single-family homes in January 2025 were recorded at a seasonally adjusted annual rate of 657,000, missing the consensus for 680,000 and down 10.5% from December’s upwardly revised 734,000.
Here are stocks to watch today:
Axon
Axon (AXON+16.45%) stock surged after the weapons and surveillance technology company reported stronger-than-expected fourth-quarter earnings and issued upbeat full-year guidance. Axon posted adjusted earnings of $2.08 per share, topping the analysts’ average of $1.40. Revenue climbed to $575.1 million from $544.3 million a year earlier.
Intuit
Intuit (INTU+12.65%) stock rose sharply following a strong earnings report and mixed guidance for the current period. The tax preparation and accounting software provider posted adjusted earnings per share of $3.32 for its fiscal second quarter, well above the estimated $2.57. Revenue reached $4 billion, surpassing expectations of $3.8 billion.
Nvidia
Nvidia (NVDA+4.75% stock gained as the AI chip powerhouse prepares to release its fiscal fourth-quarter earnings after the bell. After Chinese AI startup DeepSeek spooked investors in January, Nvidia’s stock plunged 17%, wiping out nearly $600 billion in value — a record for a U.S. company.
Salesforce
Salesforce (CRM+1.01%), a leading customer relationship management technology provider, rose ahead of its earnings report, scheduled for release after the market closes.
Super Micro Computer
Super Micro Computer (SMCI+19.35%) stock surged after the AI hardware maker filed its long-awaited financial reports, alleviating delisting concerns on the Nasdaq that had loomed since last year.
Tesla
Tesla (TSLA-0.90%) shares rose about 1.5%, as some investors bought the dip. The company’s market capitalization has gone below $1 trillion.