International Business Machines – Shares rose about 3% after the company disclosed in a regulatory filing that it would invest more than $10 billion toward quantum computing over the next five years. Arm Holdings – The chipmaker jumped more than 15% after Mizuho lifted its price target to $360 from $290. The firm said it sees tailwinds from internal CPU ramps in 2027 and continued strength from customer CPUs. Norfolk Southern , Union Pacific – The railways tumbled around 4% after the Surface Transportation Board halted its review of a proposed $71.5 billion merger of the two companies. The agency said it needs more information before it moves forward with the application. Drone stocks — Shares gained across a slew of companies after The Wall Street Journal reported that President Donald Trump's administration is in talks to provide funding to some. Unusual Machines surged about 65%. AeroVironment jumped 18%. Red Cat Holdings gained 39%, while Kratos Defense & Security Solutions popped 14%. Snowflake — The cloud-based data platform provider soared 37%. Snowflake sees second-quarter adjusted operating margin coming in at 12.5% on product revenue of $1.415 billion to $1.420 billion. Analysts polled by StreetAccount were looking for 11.9% margin, with $1.37 billion in product revenue. Dollar Tree — The discount retailer surged 18% after the company raised its guidance for the full year, calling for adjusted earnings in a range of $6.70 to $7.10 per share. That's up from the prior forecast of $6.50 to $6.90 per share. The FactSet consensus sought $6.67 per share. The company also announced a partnership with DoorDash to bring on-demand delivery from its stores to consumers. Salesforce — Shares were marginally higher after the cloud-based software guided for current-quarter revenue between $11.27 billion to $11.35 billion, while analysts were looking for $11.36 billion, per LSEG. However, Salesforce raised its full-year earnings guidance range. The company also posted a first-quarter earnings and revenue beat. Agilent Technologies — Shares popped 17% after the healthcare equipment provider raised its full-year adjusted earnings guidance to between $6 and $6.10 per share, higher than previous estimates of between $5.90 to $6.04 a share. Agilent also reported a second-quarter beat on both the top and bottom lines. Best Buy — The stock was up almost 19% after an earnings and revenue beat for the first quarter. Comparable sales were up 2% year-over-year, with gaming, computing, mobile phones and services leading the way. The company also reaffirmed its full-year guidance. Hormel Foods — Shares popped about 13% after the company reported fiscal second-quarter adjusted earnings of 40 cents, compared to analysts polled by FactSet's expectations of 35 cents. Revenue came in about where estimates forecasted. Everpure — The cloud and data storage stock shed 13% after Everpure posted a first-quarter non-GAAP gross margin that was in line with expectations. However, the company formerly known as Pure Storage reported a first-quarter adjusted earnings and revenue beat. Everpure also shared operating income guidance for the current quarter and full year that exceeded estimates. Synopsys — The designer of silicon chips slipped 9%. Synopsys said that it has reached an agreement with activist Elliott Investment Management, appointing Jesse Cohn to its board of directors, effective June 1. Separately, second-quarter results surpassed Wall Street's estimates, with Synopsys posting adjusted earnings of $3.35 per share on revenue of $2.28 billion. Burlington Stores — The retailer fell 8% despite an earnings and revenue beat in its first-quarter financial report, according to data from analysts polled by FactSet. Current quarter guidance also came in above expectations, as well as full-year guidance. The company plans also throughout the year to open 115 net new stores. Kohl's — Shares were up 18% after the retailer reported a narrower-than-expected loss in the first quarter. Kohl's lost 13 cents per share, compared to analysts polled by FactSet's expectations for a loss of 19 cents. Revenue came in as expected. NCino — Shares climbed 4% after the software provider for financial institutions raised 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 — The stock was up 6% after the company won a $9.7 billion contract with the Pentagon. In the deal, Dell will provide a suite of software to the Department of Defense. Nebius Group — The Dutch cloud provider rose 10% after a hedge fund operated by a former OpenAI employee revealed it owns a 5.6% stake in the company. — CNBC's Lisa Kailai Han, Nick Wells and Darla Mercado contributed reporting.
