By Joe Woelfel and Elsa Ohlen
Stocks turned lower Friday after President Donald Trump in a social media post threatened Beijing with a "massive increase" of tariffs on Chinese goods.
These stocks were moving Friday:
Nvidia rose slightly to $192.62 after shares of the leading maker of chips for artificial-intelligence applications gained 1.8% on Thursday to close at $192.57, an all-time high. Cantor Fitzgerald analysts on Thursday raised their price target on Nvidia to $300 from $240 and maintained an Overweight rating on the stock, saying the buildout for AI has only started. The firm's $300 price target translates to a $7 trillion market cap for Nvidia, which closed Thursday with a market cap of $4.678 trillion. Coming into Friday, Nvidia shares have risen more than 43% this year.
Meanwhile, Bloomberg reported the U.S. has approved several billion dollars' worth of Nvidia chip exports to American customers including Oracle for use in the United Arab Emirates.
Fiscal third-quarter adjusted earnings and revenue at Levi Strauss topped analysts' estimates and the jeans maker raised its fiscal-year outlook. Levi Strauss expects fiscal-year revenue to rise 3%, higher than previous guidance that called for an increase of 1% to 2%. The company also boosted its adjusted earnings forecast to $1.27 to $1.32 a share from $1.25 to $1.30. Shares of Levi Strauss, however, fell 12%.
Venture Global tumbled 21%. The U.S. natural-gas exporter lost an arbitration case against customer BP. Venture Global said the International Court of Arbitration issued a partial final award to BP. The British oil company and several other customers accused Venture Global of withholding contracted liquefied natural gas cargoes, and instead selling them on the spot market to benefit from a surge in prices that was driven by the war in Ukraine.
Qualcomm declined 3.1% as China launched an investigation into the chip company for suspected violations of the country's antimonopoly law, said China's State Administration for Market Regulation. The investigation involves the takeover of Israeli start-up Autotalks, which Qualcomm acquired in June.
Applied Digital reported a fiscal first-quarter adjusted loss of 3 cents a share, narrower than analysts' estimates that called for a loss of 13 cents. Revenue of $64.2 million beat forecasts of $46.1 million. The company also finalized a new lease agreement with CoreWeave. Shares of Applied Digital, the operator of artificial-intelligence data centers, soared 20%.
Data-analytics company Elastic jumped 6.4% after hiking its revenue guidance and announcing a $500 million stock buyback. Elastic expects fiscal 2026 revenue of between $1.697 billion and $1.703 billion, up from a previous call of between $1.679 billion and $1.689 billion.
Mosaic tumbled 7.9% after the chemicals company said "unexpected mechanical issues" at its Riverview sulfuric acid plant and "utility interruptions" at Bartow, both located in Florida, in mid-September "caused a meaningful decline in overall production for the remainder of the month."
Vertiv Holdings, the maker of AI infrastructure products that cool and power data centers, rose 4.5%. The move came after Citi analysts on Thursday put a bullish 90-day catalyst watch on Vertiv, citing "increased conviction on robust data center infrastructure demand."
EightCo Holdings rose 18% after the technology investment company announced a pilot program to advance artificial-intelligence authentication for enterprises. Eightco said the initiative will develop approaches to address identity and verification challenges brought about by the expansion of AI.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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October 10, 2025 11:11 ET (15:11 GMT)
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