Wall Street ended Thursday, November 12, slightly lower after the biggest corporate news of the year: Nvidia‘s board said Jensen Huang has resigned as CEO, president and director, effective immediately, with CFO Colette Kress named interim CEO. The S&P 500 slipped 0.35% to 7,592.40, the Nasdaq Composite fell 0.39% to 25,366.09, the Dow lost 0.36% to 52,297.09 and the small-cap Russell 2000 dropped 1.66%. Earnings sent Corteva, Nebius and YETI sharply lower, while AEVEX and Fermi jumped. This morning we covered the premarket action in Stocks Moving Premarket Today (Nov 12). Here is how the biggest movers finished.
| Stock | Close (4:00 p.m. ET) | Why it moved |
|---|---|---|
| Nvidia (NVDA) | −4.3% to $166.19 | CEO Jensen Huang resigned; CFO Colette Kress is interim CEO |
| Corteva (CTVA) | −24.3% to $9.19 | Cut its 2026 forecast on a weaker Brazil market |
| Nebius (NBIS) | −16.8% to $128.64 | Fell after its third-quarter report |
| YETI (YETI) | −10.5% to $38.30 | Lowered its 2026 sales and profit outlook |
| Keurig Dr Pepper (KDP) | −7.4% to $35.42 | Announced a proposed stock offering |
| AEVEX (AVEX) | +13.4% to $13.76 | Raised its 2026 revenue outlook |
| Fermi (FRMI) | +13.8% to $2.06 | Signed an agreement with a cloud computing company |
| Intuitive Machines (LUNR) | +7.0% to $13.03 | Record quarterly revenue and backlog |
Nvidia: Jensen Huang steps down
Nvidia’s board announced that Huang, who co-founded the company 33 years ago, resigned as president, CEO and board member effective immediately. CFO Colette Kress is interim CEO while the board considers internal and external candidates. The news followed reports of a second relationship with a company employee. The stock closed down about 4.3% after trading lower for much of the day. Nvidia is still due to report earnings next Tuesday; see our Nvidia earnings preview. Is the dip a buy or a warning? Vote bullish or bearish on $NVDA.
Corteva sinks on Brazil
The seeds and crop chemicals company updated its 2026 forecast for a weaker market in Brazil, where it said high dealer stocks, cash-strapped farmers and high interest rates delayed purchases. Third-quarter net sales fell 9% to $1.59 billion. Share your take on $CTVA.
Nebius drops despite fast growth
The AI cloud company reported third-quarter revenue of $980.8 million, up 571% from a year earlier, but the stock fell almost 17%, a sign of how high expectations have become for AI infrastructure names this week. Bullish or bearish on $NBIS?
YETI cuts its outlook
The cooler and drinkware maker now expects adjusted sales growth of about 6%, down from 7% to 8%, and adjusted earnings per share of $2.90 to $2.95, citing a more cautious consumer. Vote on $YETI.
Keurig Dr Pepper slides on stock sale
Shares fell after the company announced a proposed public offering of common stock, which would add new shares to the market. What’s your call on $KDP?
AEVEX, Fermi and Intuitive Machines rally
AEVEX, which makes drones and autonomous systems, raised its 2026 revenue outlook to $820 million to $840 million after third-quarter revenue rose 56.5% to $189.7 million. Fermi, a data center power site developer, said a cloud computing company with an investment-grade credit rating signed an agreement with it. Intuitive Machines reported record third-quarter revenue of $269 million and a record $1.9 billion backlog. Post your take on $AVEX, $FRMI or $LUNR.
After the bell: Applied Materials
Applied Materials (AMAT) reported fiscal fourth-quarter revenue of $10.41 billion, up 53%, and adjusted earnings of $4.16 a share, and guided first-quarter revenue to $11.1 billion, plus or minus $500 million. Shares slipped in early after-hours trading despite the beat. Cisco (CSCO) also reported after the close; see our Cisco preview for what to watch.
How the indexes closed
| Index | Close | Change |
|---|---|---|
| S&P 500 | 7,592.40 | −0.35% |
| Nasdaq Composite | 25,366.09 | −0.39% |
| Dow Jones | 52,297.09 | −0.36% |
| Russell 2000 | 2,799.06 | −1.66% |
Not every chip stock followed Nvidia down: AMD rose 5.9% and Broadcom gained 5.5%.
What to watch tomorrow
- How Nvidia trades in its first full session under an interim CEO, and any news on a permanent pick.
- The Cisco and Applied Materials reactions at the open.
- Next week’s big earnings: Nvidia, Walmart, Home Depot and Target. See earnings this week.
- Live prices and sentiment on every ticker page
- Weekly email with your watchlist movers
- Price alerts on the stocks and coins you follow
Frequently asked questions
Why did Nvidia stock fall today?
Nvidia’s board announced that CEO Jensen Huang resigned effective immediately, and named CFO Colette Kress interim CEO. The stock closed down about 4.3%.
Who is Nvidia’s new CEO?
CFO Colette Kress is interim CEO. The board said it is considering internal and external candidates for the permanent role.
Why did Corteva stock drop?
Corteva cut its 2026 forecast because of a weaker market in Brazil, and its third-quarter sales fell 9%.
Sources: company press releases (Nvidia, Corteva, Nebius, YETI, AEVEX, Intuitive Machines, Applied Materials), StockTitan, CNBC, Reuters, CNN and Yahoo Finance closing data.
This article is general information, not financial advice. Prices are 4:00 p.m. ET closes unless noted.
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