Check out the companies making the biggest moves in intraday trading: Quantum stocks — Shares of quantum computing companies soared after a Wall Street Journal report that the government plans to give $2 billion in subsidies to nine companies. The deal also includes government stock, the report said. Righetti Computing soared more than 30%, DWave Quantum soared 22% and Quantum Computing rose 13%. IonQ rose 9%, IBM rose 7% and GlobalFoundries rose 11%. Rare Earth Stocks — Rare earth stocks extended their rebound from a selloff tied to concerns about China’s export restrictions. US Rare Earths rose 7% after announcing $19.3 million in funding from the US Department of Energy to support pilot-scale rare earth element separation development. Critical Metals rose 3% after signing a 15-year offtake agreement for the Tambreez rare earth deposit in Greenland. Bloom Energy — The energy company soared more than 12% after announcing a partnership with Nebius, a European AI cloud provider that aims to overcome power constraints in building AI infrastructure. Nevius stock rose more than 16%. Deere — The agricultural equipment maker reported better-than-expected second-quarter results, with earnings of $6.55 per share, beating the FactSet consensus estimate of $5.70 per share. Net sales were $11.78 billion, compared to analysts’ expectations of $11.54 billion. Deere reaffirmed its full-year net profit forecast. The stock price fell nearly 8%. Birkenstock — The shoe maker’s stock rose more than 17% after announcing it would accelerate its share buyback program. CEO Oliver Reichert said recent market volatility had created a “strong disconnect” between share prices and underlying fundamentals. The stock price has fallen nearly 30% over the past year. Spotify — Shares of the music streaming platform rose 14% after the company delivered positive forecasts at its first investor day since 2022. Spotify expects revenue to grow at a compound annual growth rate in the mid-teens and has laid out plans to reach 1 billion subscribers. Stellantis — The company’s stock price fell more than 3% after the company announced plans to increase sales in North America by 35% by 2030. Stellantis said it is adding a new crossover to the historic Chrysler brand, targeting 60% of the Chrysler and Ram trucks. The measures were part of a broader five-year plan the company announced Thursday. Walmart — The giant retailer fell nearly 7% after reporting disappointing guidance. Walmart expects adjusted earnings of $2.75 to $2.85 per share, below expectations of $2.91, according to LSEG. Adjusted EPS for the first quarter was in line with expectations, and revenue exceeded expectations. Rocket Lab — The space company fell 5% after Space X filed a prospectus with the Securities and Exchange Commission to list on the Nasdaq. CNBC reported last week that the company plans to begin a roadshow to sell the deal on June 8th. Nvidia — The chip giant announced first-quarter revenue of $81.62 billion, up 85% from a year earlier, beating the $78.86 billion expected by analysts surveyed by LSEG. The stock price fell about 2%. Intuit — Shares fell nearly 20% after the financial software company announced 17% layoffs. Intuit also missed analysts’ expectations for third-quarter revenue, posting $8.56 billion compared to LSEG’s consensus estimate of $8.61 billion. Kroger — The grocer fell 2% after a Bloomberg report that it plans deep price cuts across its stores to compete with Walmart and Costco. Applied Digital — The data center company soared 19% after announcing it had signed a long-term lease with a U.S.-based high investment-grade hyperscaler. Nio — The Chinese electric car maker’s U.S.-listed shares rose nearly 2% despite first-quarter earnings and sales that beat expectations. The company said it plans to deliver 110,000 to 115,000 deliveries in the second quarter, an increase of nearly 60% from a year ago. — CNBC’s Alex Harring contributed reporting.
