Nvidia, Hormel fall; Nutanix, Forma Therapeutics rise

Sep 1, 2022, 1:18 AM | Updated: 1:20 pm

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday:

Nvidia Inc., down $11.57 to $139.37.

The chipmaker said a new product might be delayed due to new U.S. government restrictions on exporting certain technology to China.

Hormel Foods Corp., down $3.30 to $46.98.

The maker of Spam and Skippy peanut butter lowered its earnings forecast, saying inflationary pressures will continue.

Nutanix Inc., up $5.04 to $22.34.

The cloud computing company reported results that were better than analysts expected and issued a forecast that beat expectations.

Semtech Corp., down $12.54 to $33.65.

The semiconductor maker forecast results for the current quarter that were well below what Wall Street was expecting.

Forma Therapeutics Holdings Inc., up $6.84 to $20.24.

The biopharmaceutical company agreed to be acquired by Novo Nordisk for about $1.1 billion.

Ciena Corp., down $5.26 to $45.48.

The network infrastructure company reported quarterly results that fell short of analysts’ forecasts.

Ollie’s Bargain Outlet Holdings Inc., down 49 cents to $54.82.

The closeout retailer reported weaker-than-expected results and cut its forecasts for the full year.

MongoDB, down $81.75 to $241.11.

The database company sharply cut its full-year forecasts.

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