Biggest stock movers Wednesday: PANW, TOL, and more

Stock futures extended their decline Wednesday morning ahead of a slate of retail earnings, as investors awaited insights into how President Trump’s tariffs are impacting the outlook.

Here are some of Wednesday’s biggest stock movers:

Biggest stock gainers

• Toll Brothers (NYSE:TOL) +5% – Shares rose after the home builder delivered upbeat Q2 results and reaffirmed its FY2025 outlook despite softer housing demand. It expects Q3 deliveries of 2.8K–3.0K homes (midpoint: 2.9K) vs. the 2,987 estimate from Visible Alpha, with an average price of $965K–$985K. The company reiterated its full-year guidance for 11.2K–11.6K home deliveries, with an average price of $945K–$965K, and a 27.25% adjusted home sales gross margin.
• Keysight Technologies (NYSE:KEYS) +6% – Shares jumped after Q2 results topped expectations, and the company reiterated its full-year growth forecast of 5%–7% despite macroeconomic headwinds. For Q3, Keysight guided revenue of $1.31B–$1.33B (vs. $1.3B est.) and adjusted EPS of $1.63–$1.69, slightly below the $1.70 consensus. CEO Satish Dhanasekaran noted a healthy pipeline and raised the full-year outlook to the midpoint of the company’s long-term growth target.

Biggest stock losers

• Palo Alto Networks (NASDAQ:PANW) -4% – Shares slipped despite FQ3 results topping expectations, with revenue up 15% Y/Y. Product and Subscription & Support revenues rose 15% and 16%, respectively. For Q4, the company guided revenue of $2.49B–$2.51B (midpoint in line with $2.5B estimate) and adjusted EPS of $0.87–$0.89 (midpoint slightly above $0.87 consensus). It expects Next-Gen Security ARR of $5.52B–$5.57B, up 31%–32% Y/Y, and RPOs of $15.2B–$15.3B, a 19%–20% increase.
• Take-Two Interactive (NASDAQ:TTWO) -4% – Shares declined after the company announced a $1B underwritten public offering of common stock, with all shares to be sold by TTWO. The company also expects to grant underwriters a 30-day option to purchase up to an additional $150M. Proceeds are earmarked for general corporate purposes, including potential debt repayment and future acquisitions.