Check out the companies making the biggest moves in midday trading: Quantum stocks — Shares of quantum computing companies soared following a Wall Street Journal report that the government plans to award $2 billion in grants to nine firms. The deal also included government equity stakes, the report said. Rigetti Computing jumped more than 30%, D-Wave Quantum surged 22%, and Quantum Computing rallied 13%. IonQ gained 9%, IBM rose 7% and GlobalFoundries added 11%. Rare earth stocks — Rare earth stocks extended their rebound from a sell-off tied to concerns around export restrictions in China. USA Rare Earth rose 7% after it announced $19.3 million in funding from the U.S. Department of Energy to support pilot-scale rare earth element separation development. Critical Metals rose 3% after it signed a 15-year offtake agreement with Greenland’s Tanbreez rare earth deposit. Bloom Energy — The energy company jumped more than 12% after it unveiled a partnership with Europe’s Nebius , an AI cloud provider seeking to overcome power constraints in the AI infrastructure buildout. Nebius shares rose more than 16%. Deere — The agriculture equipment maker reported better-than-expected second-quarter results, with its earnings of $6.55 per share, topping the FactSet consensus estimate of $5.70 per share. It had net sales of $11.78 billion, versus also $11.54 billion expected from analysts. Deere reaffirmed its full-year net income guidance. Shares fell nearly 8%. Birkenstock — The shoemaker’s stock jumped more than 17% after it said it would accelerate its stock repurchase program. CEO Oliver Reichert said recent market volatility created a “strong disconnect” between its share price and underlying fundamentals. Shares have fallen almost 30% over the past year. Spotify — Shares of the music streaming platform rose 14% after it provided a strong forecast at its first investor day since 2022. Spotify expects revenue to grow at a compound annual growth rate in the mid-teens and laid out plans to reach 1 billion subscribers. Stellantis — The automaker’s stock fell more than 3% after it disclosed its plans to boost North American sales by 35% by 2030 . Stellantis said it will add new crossovers to its storied Chrysler brand, and is targeting 60% for its Chrysler and Ram trucks. These steps were part of a broader five-year plan the company unveiled Thursday. Walmart — The megaretailer tumbled nearly 7% after it issued a disappointing outlook . Walmart expects adjusted earnings per share to be between $2.75 and $2.85, lower than expectations of $2.91, according to LSEG. Its first-quarter adjusted EPS was in line with expectations, while its revenue topped estimates. Rocket Lab — The space company tumbled 5% after Space X filed a prospectus with the Securities and Exchange Commission to trade publicly on the Nasdaq. CNBC reported last week the company plans to kick off a roadshow to market the deal on June 8. Nvidia — The chip titan said revenue surged 85% year over year to $81.62 billion in the first quarter, exceeding the prediction of $78.86 billion from analysts polled by LSEG. Shares were down about 2%. Intuit — Shares sank nearly 20% after the financial software company announced a 17% workforce cut. Intuit also missed analyst expectations for revenue in the third fiscal quarter, posting $8.56 billion against an LSEG consensus forecast of $8.61 billion. Kroger — The grocer shed 2% following a Bloomberg report that it plans to significantly cut prices across its stores to take on Walmart and Costco. Applied Digital — The data center company jumped 19% on the back of the announcement that it entered a long-term lease agreement with a U.S.-based high investment-grade hyperscaler. Nio — U.S.-listed shares of the Chinese electric-vehicle maker climbed nearly 2% even though its first-quarter earnings and revenue topped expectations. The company said it plans to deliver between 110,000 and 115,000 deliveries in the second quarter, a nearly 60% increase from the year prior. — CNBC’s Alex Harring contributed reporting.
