A number of stocks fell in the afternoon session after China announced new export controls on the critical minerals. Beijing's Commerce Ministry stated that foreign suppliers now need government approval to export products containing certain rare-earth materials. These materials are essential for producing high-tech goods, including computer chips, electric vehicles, and defense technology. Analysts view the move as a strategic assertion of China's dominance in the global rare earth supply chain, particularly amid ongoing trade tensions and ahead of an anticipated meeting between the US and Chinese presidents. The new policies are expected to tighten global supply chains, potentially causing licensing delays and cost increases for manufacturers in key strategic sectors.
Also, investors paused a record-setting rally amid uncertainty from the ongoing U.S. government shutdown.
The AI rally continues to set the tone on Wall Street. Nvidia and AMD once again led the charge on Wednesday, while gold broke above the $4,000 per troy ounce mark. Markets remain remarkably resilient despite the ongoing U.S. government shutdown.
Shares of semiconductor maker Penguin Solutions (NASDAQ:PENG) fell 16.2% in the afternoon session after the company reported third-quarter financial results that missed revenue expectations and provided a disappointing forecast.
Semiconductor maker Penguin Solutions (NASDAQ:PENG) fell short of the market’s revenue expectations in Q3 CY2025, but sales rose 8.6% year on year to $337.9 million. Its non-GAAP profit of $0.37 per share was in line with analysts’ consensus estimates.
Investors and traders are closely monitoring the gap up and gap down stocks in today's session on Wednesday. Let's explore the market movements and identify the stocks with significant gaps.
Semiconductor maker Penguin Solutions (NASDAQ:PENG) missed Wall Street’s revenue expectations in Q3 CY2025, but sales rose 8.6% year on year to $337.9 million. Its non-GAAP profit of $0.37 per share was in line with analysts’ consensus estimates.
A number of stocks fell in the afternoon session after reports revealed tech giant Oracle is generating lower-than-expected margins in its cloud business and losing money on Nvidia chip rentals. The news caused Oracle's shares to tumble over 5% and sparked a wider tech sell-off, pulling the S&P 500 and Nasdaq down.
Shares of semiconductor maker Penguin Solutions (NASDAQ:PENG) jumped 4.4% in the morning session after an analyst at Stifel maintained a 'Buy' rating and raised the firm's price target on the company's shares.
