Stock futures showed a cautious tone in early Wednesday trading as investors awaited Nvidia’s highly anticipated third-quarter earnings, scheduled for release after the market close.
Here are some of Wednesday’s biggest stock movers:
Biggest stock gainers
- La-Z-Boy (LZB) +7% – Shares jumped after delivering an FQ2 beat, with new store openings and the closure of weaker locations helping lift sales even in what management called a “choppy landscape.” The company also announced a 10% dividend hike, its fifth straight double-digit increase, raising the payout to $0.242 per share. For the current quarter, LZB expects revenue of $525M–$545M (up 1%–4% and bracketing the $534.2M consensus) and guides adjusted operating margin to 5.0%–6.5% vs. 7.1% in the latest quarter.
- On Semiconductor (ON) +3% – Shares gained after unveiling a three-year, $6B share repurchase program starting January 1, 2026, replacing the current plan set to end on December 31. The company has already bought back $2.1B of stock over the past three years and said the larger authorization underscores its focus on disciplined capital allocation and long-term value creation. ON noted it expects to dedicate nearly all of its 2025 free cash flow to buybacks. The announcement arrived alongside a disclosure of up to $300M in restructuring-related costs tied to previously announced initiatives.
Biggest stock losers
- Plug Power (PLUG) -15% – Shares tumbled after pricing $375M of 6.75% convertible senior notes due 2033 in a private offering, with an additional $56.25M available to initial purchasers under a 13-day option. The note sale, expected to close on Nov. 21, 2025, will generate approximately $347.2M in net proceeds (or ~$399.4M if the option is fully exercised), as the notes were priced at 95% of face value. Plug Power plans to use roughly $245.6M of the proceeds to fully repay its outstanding principal balance.
- Eos Energy (EOSE) -2.7% – Shares fell after launching a registered direct common-stock offering to a select group of investors, alongside a private offering of $500M in convertible senior notes due 2031 with an additional $75M option for initial purchasers. The company expects to use proceeds from both offerings to partially repurchase its existing 6.75% convertible senior notes due 2030 and for general corporate purposes, with plans to negotiate private transactions for those repurchases. A concurrent registered direct equity offering is also planned, contingent on the completion of the note issuance.