Closing Bell: Ford Soars, Nvidia Rallies, Cisco Rises on Results

Today's biggest winners and losers in the stock market.

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- Ford (F) stock surged Wednesday after Morgan Stanley issued a bullish call that the automaker’s energy storage business could soon make a deal with hyperscalers. Shares climbed 13%, cementing the stock’s biggest one-day gain since March 2020, and helping it turn positive for the year. “We believe that there is a fairly high likelihood that Ford signs an Energy Storage System supply agreement with large commercial customers, and potentially hyperscalers, over the next few months,” Morgan Stanley analyst Andrew Percoco said.

- Nvidia (NVDA) co-founder Jensen Huang joined US President Donald Trump on his visit to China as a last-minute addition, thrusting AI and technology into the spotlight before a high-stakes Beijing summit. Huang is among several US business leaders including Apple Inc.’s Tim Cook and Tesla Inc.’s Elon Musk on Trump’s first overseas trip since waging war in the Middle East — a 36-hour visit with Xi Jinping that’s expected to encompass the war, tariffs and the self-ruled island of Taiwan. The list of attendees until Tuesday had not included Huang, whose company makes the chips at the heart of the AI boom and has been pushing for greater leeway in a market he’s identified as a $50 billion opportunity. It’s unclear whether Trump will raise with Xi any concerns that relate specifically to Nvidia. Regardless, shares of Nvidia, as well as shares of other chipmakers rallied in trading on Wednesday.

- Cisco (CSCO) delivered a better-than-anticipated forecast while also announcing plans to cut thousands of jobs, a move it said would help the company focus on a fast-growing AI market. Revenue will be $16.7 billion to $16.9 billion in the period, which runs through July, the company said in a statement Wednesday. Excluding some items, earnings will be roughly $1.16 to $1.18 a share. Analysts estimated sales of $15.8 billion and profit of $1.07 a share, according to data compiled by Bloomberg. Cisco’s shares soared on the news, climbing as much as 16% in late trading. The stock had increased 32% this year through the close.

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