International Business Machines Corporation

New York Stock Exchange
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Bullish +75

Stocks making the biggest moves midday: Unusual Machines, Snowflake, Arm, Dollar Tree & more

📈 IBM shares rose about 3% after announcing plans to invest more than $10 billion in quantum computing over the next five years.

🚀 Arm Holdings stock jumped over 15% following a Mizuho price target increase to $360, citing tailwinds from CPU ramps and customer strength.

🚂 Railway stocks for Norfolk Southern and Union Pacific tumbled around 4% after the Surface Transportation Board paused their $71.5 billion merger review due to insufficient information.

🛸 Drone stocks surged across the board after reports that President Trump's administration is considering funding, with Unusual Machines up 65% and AeroVironment up 18%.

☁️ Snowflake soared 37% with second-quarter adjusted operating margins of 12.5% on product revenue near $1.415 billion to $1.420 billion, exceeding analyst expectations.

🛒 Dollar Tree surged 18% after raising full-year guidance for adjusted earnings to $6.70–$7.10 and announcing a new delivery partnership with DoorDash.

💼 Salesforce saw marginal gains after beating Q1 estimates and raising its full-year earnings guidance, reporting revenue between $11.27 billion and $11.35 billion.

🔬 Agilent Technologies popped 17% after raising full-year adjusted earnings guidance to $6–$6.10 per share and posting a second-quarter beat on top and bottom lines.

📺 Best Buy shares rose nearly 19% following an earnings and revenue beat, with comparable sales up 2% year-over-year led by gaming and mobile phones.

🥩 Hormel Foods gained about 13% after reporting fiscal Q2 adjusted earnings of 40 cents, surpassing analyst expectations of 35 cents.

💾 Everpure shares shed 13% despite posting a revenue and earnings beat for the first quarter; the stock previously traded under the name Pure Storage.

📉 Synopsys slipped 9% after appointing activist Elliott Investment Management's Jesse Cohn to its board effective June 1, despite second-quarter earnings beating estimates.

🛍️ Burlington Stores fell 8% on the news of an earnings and revenue beat in its Q1 report, even though it reaffirmed full-year guidance.

🧥 Kohl's shares jumped 18% after reporting a narrower-than-expected first-quarter loss of 13 cents compared to the expected loss of 19 cents.

💳 NCino climbed 4% after raising its full-year revenue guidance for financial institution software services to $642–$646 million.

🖥️ Dell Technologies rose 6% after securing a $9.7 billion contract with the Pentagon to provide a software suite to the Department of Defense.

☁️ Nebius Group rose 10% after reports that a hedge fund run by a former OpenAI employee holds a 5.6% stake in the Dutch cloud provider.

Bullish Signals
  • IBM shares rose about 3% after the company disclosed a plan to invest more than $10 billion toward quantum computing over the next five years.
  • Arm Holdings jumped more than 15% after Mizuho lifted its price target to $360 from $290, citing tailwinds from internal CPU ramps in 2027 and continued strength from customer CPUs.
  • Drone stocks saw broad gains after reports that the Trump administration is in talks to provide funding, with Unusual Machines surging about 65%, AeroVironment jumping 18%, Red Cat Holdings gaining 39%, and Kratos Defense & Security Solutions popping 14%.
  • Snowflake soared 37% after reporting second-quarter adjusted operating margin of 12.5% on product revenue between $1.415 billion to $1.420 billion, surpassing analyst expectations of 11.9% margin and $1.37 billion in revenue.
  • Dollar Tree surged 18% after raising its full-year adjusted earnings guidance to a range of $6.70 to $7.10 per share, up from the prior forecast of $6.50 to $6.90 per share, and announced a partnership with DoorDash for on-demand delivery.
  • Salesforce raised its full-year earnings guidance range and posted a first-quarter earnings and revenue beat after shares moved higher following the results.
  • Agilent Technologies shares popped 17% after raising its full-year adjusted earnings guidance to between $6 and $6.10 per share, beating the previous estimates of $5.90 to $6.04 per share along with a second-quarter beat.
  • Best Buy stock was up almost 19% after an earnings and revenue beat for the first quarter where comparable sales were up 2% year-over-year, led by gaming, computing, mobile phones, and services.
  • Hormel Foods shares popped about 13% after reporting fiscal second-quarter adjusted earnings of 40 cents compared to analyst expectations of 35 cents.
  • Everpure previously known as Pure Storage, reported a first-quarter adjusted earnings and revenue beat along with operating income guidance for the current quarter and full year that exceeded estimates despite the stock name change confusion.
  • Synopsys second-quarter results surpassed Wall Street's estimates with adjusted earnings of $3.35 per share on revenue of $2.28 billion, even while shares slipped due to board changes.
  • Burlington Stores current quarter guidance and full-year guidance came in above expectations following an earnings and revenue beat, with plans to open 115 net new stores throughout the year.
  • Kohl's shares were up 18% after reporting a narrower-than-expected loss of 13 cents per share compared to analysts' expectation of a 19 cent loss.
  • NCino climbed 4% after raising its full-year revenue guidance to a range of $642 million to $646 million versus prior estimates of between $639 million to $643 million.
  • Dell Technologies stock was up 6% after winning a $9.7 billion contract with the Pentagon to provide a suite of software to the Department of Defense.
  • Nebius Group rose 10% after a hedge fund operated by a former OpenAI employee revealed it owns a 5.6% stake in the Dutch cloud provider.
Risk Factors
  • IBM's shares rose only modestly (~3%) despite announcing a massive $10 billion investment in quantum computing over the next five years, which may raise concerns about capital intensity or potential strain on current profit margins.
  • Union Pacific and Norfolk Southern saw shares tumble ~4% after the Surface Transportation Board halted its review of their proposed $71.5 billion merger due to needing more information, creating significant regulatory uncertainty that could derail the deal entirely.
Full Analysis
International Business Machines Corp. shares climbed approximately 3% after the tech giant announced in a regulatory filing that it plans to invest more than $10 billion in quantum computing over the next five years. This significant capital allocation highlights IBM's strategic shift toward emerging high-compute technologies, which has prompted positive market reaction despite no specific quarterly earnings data being released for the company itself. The announcement serves as a major long-term growth indicator for IBM, distinguishing it from the other companies listed in the broader midday market roundup which included movers like Snowflake, Arm Holdings, and various retail and industrial stocks. While IBM is one of several tickers mentioned in this market update, the article provides specific actionable details regarding the company's quantum computing investment plans rather than merely listing it alongside others without context. The 3% stock movement directly correlates with the $10 billion funding commitment, offering clear rationale for the price action that defines the article's primary focus on IBM's strategic pivot. This level of specific detail on a single major corporate announcement elevates the company above being incidental to the piece.