Credo, Dell, Palo Alto, PG&E, Uber, MongoDB, and More Stocks That Explain Today's Market -- Barrons.com

By George Glover and Mariapaula Gonzalez

Stocks rose Wednesday with Nvidia and the tech sector moving higher even as bond yields and oil prices remained elevated.

Nvidia shares advanced 3.2% after CEO Jensen Huang spoke about token monetization in artificial-intelligence computing at the G-20 summit.

Dell Technologies rose nearly 16% was the best-performing stock in the S&P 500 on Wednesday. The hardware company posted second-quarter earnings and revenue that topped analysts' expectations as the artificial-intelligence boom drives up demand for its products.

Palo Alto Networks fell 9.3% and was the worst performer in the S&P 500 Wednesday. The cybersecurity company reported strong fourth-quarter earnings, but investors still opted to take profits with shares up 97% for the year through Tuesday's close of trading.

Credo Technology declined 20% even as the electrical cable maker's first-quarter earnings beat expectations. The revenue beat and guidance "seems a bit skinnier" than in previous quarters, Mizuho analyst Jordan Klein said.

PG&E dropped 5.2% after the California utility announced a strategic review and that it will "consider the full range of options" for how it should be organized and financed. Wildfire-related liability is top of mind for the utility. Edison International declined 6.1% and Sempra fell 0.6%.

AST SpaceMobile rose nearly 12% to $62.40 after analysts at Berenberg initiated coverage of several space stocks with Buy ratings. The firm's price target on AST is $92. AST is constructing a satellite constellation to offer space-based communications, similar to SpaceX's Starlink product.

GitLab gained 10% after the coding platform's second-quarter earnings came in well above Wall Street's target, easing fears about fierce competition from the likes of Microsoft's GitHub and SpaceX's Cursor.

MongoDB fell nearly 14% after second-quarter revenue for the document database company's multi-cloud service Atlas grew at a slower pace than expected. Mizuho Securities analyst Jordan Klein said major hedge funds had privately expected 30.5% to 31% growth in Atlas revenue.

Uber advanced 1.6% after the ride-hailing company announced it would cut about 10% of its global staff as part of a broader restructuring move.

FuelCell Energy stock dropped almost 16% after the fuel cell power plants maker posted a larger-than-expected quarterly loss and missed revenue expectations.

Sirius XM stock rose 7.5% after Deutsche Bank upgraded shares from Hold to Buy and raised the price target to $45 from $31.

Reddit shares advanced 9.3% after Baird analyst Colin Sebastian maintained a Neutral rating on the stock as the social-media site approaches expirations for key data licensing contracts.

Chip maker Broadcom, cloud-computing company Snowflake, and server maker Hewlett Packard Enterprise report earnings after the closing bell.

Write to George Glover at george.glover@dowjones.com and Mariapaula Gonzalez at mariapaula.gonzalez@barrons.com

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September 02, 2026 16:21 ET (20:21 GMT)