Stock futures inched up Wednesday morning as softer economic readings strengthened expectations for an imminent interest rate cut, encouraging investors to cautiously add exposure after the recent data-driven pullback.
Here are some of Wednesday’s biggest stock movers:
Biggest stock gainers
- Autodesk (ADSK) +6% – Shares soared following strong Q3 results and a positive outlook, with revenue increasing 18%, driven by a 19% rise in the design segment and broad double-digit growth across all regions. The company expects Q4 revenue between $1.907B and $1.917B, surpassing the consensus of $1.87B, and adjusted EPS guidance of $2.59 to $2.67 against a consensus of $2.59. For FY2025, Autodesk projects revenue of $7.15B to $7.165B, vs. consensus of $7.1B. Adjusted EPS was forecasted between $10.18 and $10.25 for the year, above the consensus of $10.22.
- Dell technologies (DELL) +3% – Shares rose after the PC and IT giant raised its full-year sales outlook on the back of strong Q3 results and growing demand for AI servers. For FY2026, Dell now expects revenue of $111.2B–$112.2B, up 17% Y/Y at the midpoint and above both its prior $105B–$109B range and the $107.94B consensus, including $25B from AI servers (up from $20B). For Q4, the company projects revenue of $31B–$32B, topping the $27.64B consensus, and sees adjusted EPS of roughly $3.50 per share vs. analysts’ $3.31 forecast.
Biggest stock losers
- Nutanix (NTNX) -16% – Shares plunged after the company delivered lower-than-expected guidance, forecasting FQ2 revenue of $705M to $715M (below the $749M estimate) and lowering its full-year revenue projection to $2.82B to $2.86B. While the company’s CFO noted that underlying demand remains strong, the decline was attributed to a revenue shift from FQ1 into future periods, a dynamic factored into the lowered outlook, despite the firm raising its full-year free cash flow guidance.
- Zscaler (ZS) -8% – Shares tumbled despite beating FQ1 results as the company reported an operating loss of $36.4M, which was 5% of revenue. Zscaler expects FQ2 revenue to range from $797M to $799M, above the $796.1M consensus, and adjusted EPS to range from $0.89 to $0.90, which is in line with the $0.89 estimate. The company expects full-year revenue to range from $3.28B to $3.3B, which clears the $3.27B consensus. It projects full-year adjusted EPS ranging from $3.78 to $3.82, which also hurdles the $3.65 estimate.
- Workday (WDAY) -6% – Shares dipped after the back-office software provider reported Q3 results and guidance that were above Wall Street’s forecast and upped its full-year forecast. For the current quarter, the back-office software provider projected subscription revenue of $2.355B (+16% Y/Y), and an adjusted operating margin of at least 28.5%. For FY2025, Workday now expects subscription revenues of $8.828B and an operating margin of approximately 29%.
- HP (HPQ) -5% – Shares fell after the company offered a weaker-than-expected forecast for the upcoming year, overshadowing its FQ4 earnings beat. The PC and printer giant projects adjusted EPS between $0.73 and $0.81 for FQ1, with the midpoint below the $0.78 estimate, and a full-year 2026 adjusted EPS range of $2.90 to $3.20, which is well below the $3.34 consensus. The company further announced a restructuring plan that includes a reduction of 4,000 to 6,000 employees and anticipated related costs of approximately $650M through FY2026.
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