Today’s trading session saw mixed performance across major indices, with the S&P 500 (ES) dipping 0.3%, the Nasdaq (NQ) down 0.5%, and the Russell 2000 (RTY) declining 0.6%. Several stocks stood out due to big moves driven by major news. Here’s a rundown of the highlights:

Nvidia (NVDA) +2%: Blackwell Production in Full Swing

Nvidia surged 2% after CEO Jensen Huang confirmed that the company’s next-gen chip, Blackwell, is in full production and meeting its timeline. Huang also emphasized that demand is “insane,” which further boosted investor confidence in the company’s growth trajectory, especially in the AI and high-performance computing sectors.

Levi Strauss (LEVI) -12%: Weak Guidance and Strategic Review

Levi Strauss plummeted 12% after reporting weaker-than-expected revenue and issuing disappointing fiscal year guidance. The company also announced a formal review of strategic alternatives for its Dockers brand, signaling potential divestiture or restructuring. Investors reacted negatively to the lackluster financials and uncertainty surrounding the Dockers review.

Hims & Hers (HIMS) -12.5%: FDA Moves Drugs Off Shortage List

Shares of Hims & Hers fell 12.5% following the U.S. FDA’s decision to remove Eli Lilly’s blockbuster weight-loss and diabetes drugs from its shortage list. The news dampened expectations for demand for alternative weight-loss treatments, which are a core part of Hims’ offerings.

Lockheed Martin (LMT) +0.5%: Dividend Increase and Share Buyback

Lockheed Martin edged up 0.5% after announcing a Q4 dividend increase and authorizing an additional $3 billion for its share buyback program. These moves reflect the company’s confidence in its financial stability and commitment to returning value to shareholders.

Bank of America (BAC) -0.5%: Berkshire Reduces Stake

Bank of America saw a 0.5% drop as Berkshire Hathaway sold another $337.9 million worth of BAC shares, reducing its stake in the bank to just under 10%. While Berkshire’s continued divestment weighed on sentiment, BAC remains one of Warren Buffett’s largest holdings.

Wolfspeed (WOLF) -6.5%: Downgrade Hits Hard

Wolfspeed slumped 6.5% after Mizuho downgraded the stock. The downgrade, coupled with ongoing industry challenges in the semiconductor space, added pressure to the stock, which has been struggling to regain momentum.

EVgo (EVGO) +24%: Big Boost from U.S. Loan Guarantee

EVgo skyrocketed 24% after receiving a conditional $1.05 billion loan guarantee from the U.S. government to expand its electric vehicle (EV) charging infrastructure. The stock was also upgraded by JPMorgan, which praised the company’s pivotal role in the growth of EV charging networks across the country.

Tesla (TSLA) -1.5%: Discontinued Model and Recalls

Tesla shares slipped 1.5% after the company discontinued its cheapest electric car. In addition, the automaker recalled over 27,000 vehicles in the U.S. due to delayed rear-view camera images, adding to recent concerns around quality control.

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Today’s market was driven by company-specific news that significantly impacted share prices. Nvidia continues to ride the AI wave, while EVgo gained from government support. On the downside, companies like Levi Strauss and Hims & Hers faced significant challenges, while Bank of America and Tesla grappled with external pressures. Investors will be closely watching how these developments play out in the coming weeks.