By Joe Woelfel

Stock futures fell Wednesday and Treasury yields rose, a day after the S&P 500 snapped a six-session winning streak.

These stocks were poised to make moves Wednesday:

Wolfspeed sank 56% to $1.38 after The Wall Street Journal reported the chip-component maker was getting ready to file for bankruptcy in the next few weeks amid struggles with its debt levels. The Journal, citing sources familiar with the matter, said Wolfspeed was aiming to work out a Chapter 11 plan that has support of a majority of its creditors.

Tesla was up 0.2% after gaining 0.5% on Tuesday after CEO Elon Musk indicated he was committed to the electric-vehicle company. The chief executive told a conference in Qatar that he expects to be CEO in five years, and also said he would step back from political spending. Musk also told CNBC in an interview that Tesla was on track for a June launch of robotaxi service in Austin, Texas, adding though that the rollout would be slow.

Nvidia declined 1.1%. CEO Jensen Huang again slammed U.S. curbs on the chip maker's exports to China. Huang said Wednesday at a news conference in Taiwan that U.S. measures designed to stop China from getting its hands on Nvidia's artificial-intelligence chips had been "a failure," according to reports.

Target fell 1.9% as the retailer's first-quarter adjusted earnings missed analysts' estimates and revenue fell 2.8% year over year to $23.8 billion for the quarter ended May 3. For the fiscal year ending in January, the company expects a low-single digit decline in sales. Past guidance called for sales to grow around 1% for the year.

Alphabet was up 0.2% in premarket trading. The company's Google unit, at its developers conference Tuesday, issued updates around artificial intelligence and how it plans to solidify its place in search. But many of the AI products announced by Alphabet won't come for a few months. Google's headline announcement was the implementation of artificial intelligence into search in what it is calling "AI Mode." Alphabet CEO Sundar Pichai said it was a "total reimagining of search."

Lowe's jumped 2.7% after posting first-quarter earnings that topped analysts' estimates. The company maintained its fiscal-year outlook.

Palo Alto Networks reported fiscal third-quarter adjusted earnings and revenue that topped analysts' estimates and raised fiscal 2025 profit expectations. Shares of the cybersecurity company were down 3.7% in premarket trading, however, after Palo Alto Network's revenue outlook for the fourth quarter missed estimates.

Fiscal second-quarter earnings at Keysight Technologies beat Wall Street forecasts. The test-equipment maker also said it anticipates third-quarter profit of $1.63 to $1.69 a share versus consensus of $1.69. Shares rose 4.8%.

Toll Brothers jumped 5.5% after the home builder reported second-quarter adjusted earnings of $3.50 a share, topping analysts' estimates of $2.86. Revenue was a better-than-expected $2.74 billion. "Despite a softer demand environment, we generated record second-quarter home sales revenues of $2.71 billion, well above our guidance of $2.47 billion," said Chairman and CEO Douglas C. Yearley Jr. The company said it continues to expect to deliver 11,200 to 11,600 units this year.

Take-Two Interactive Software fell 3.8% after the videogame maker proposed an offering for $1 billion common shares.

ViaSat declined 1.4% as the satellite services company posted a fiscal fourth-quarter loss of 2 cents a share, below analysts' expectations that called for a profit of 4 cents. Revenue of $1.15 billion topped consensus of $1.13 billion.

U.S.-listed shares of Baidu rose 2.1% after the Chinese tech company's growing artificial-intelligence business helped it top analysts' first-quarter earnings estimates.

XPeng jumped 6.8% in U.S. trading after its first-quarter loss narrowed and revenue in the period more than doubled to 15.81 billion yuan. The company said it expects to deliver 102,000 to 108,000 vehicles in the second quarter.

Earnings reports are also expected Wednesday after the closing bell from Snowflake, Zoom Communications, and Urban Outfitters.

Write to Joe Woelfel at joseph.woelfel@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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May 21, 2025 06:42 ET (10:42 GMT)

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