Today’s Market Movers: Nebius, Generac, and Fluence Energy Lead Stock Moves Thursday

TLDR

• Generac surged 33% after signing an up to $8 billion backup-power supply deal with Amazon for data centers
• Nebius shares jumped 8% after raising prices, lifting peers Iren and CoreWeave
• Fluence Energy dropped 16% after cutting its full-year revenue guidance from up to $3.1 billion down to $2.4 billion
• GE Vernova, SpaceX, and AMD were among the biggest mega-cap gainers on Wednesday
• Lennar fell over 2% after cutting its home delivery target again, blaming interest rate pressure

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Generac Holdings was the standout stock mover on Thursday, with shares surging 33% after the company announced a long-term supply agreement with Amazon for backup-power generators at data centers.

The deal includes $2.4 billion in initial generator deliveries in 2027 and 2028. Total payments to Generac and its global affiliates could reach up to $8 billion, according to a regulatory filing.

As part of the agreement, Generac issued an Amazon subsidiary a warrant to purchase up to 1.69 million shares at an exercise price of around $200.93 per share.

Neoclouds Catch a Bid

Nebius Group shares jumped 8% in premarket trading after the neocloud company announced it was raising prices. The move lifted shares in peers Iren and CoreWeave as well.

Vicor Corporation gained 10% after announcing a licensing deal with an unnamed OEM covering its Vertical Power Delivery technology for high-performance AI processors. Financial terms were not disclosed.

On the losing side, Fluence Energy fell 16% after slashing its full-year revenue guidance to $2.4 billion, down from a prior range of $2.9 billion to $3.1 billion. The company also now expects an adjusted EBITDA loss of around $200 million for the full year, compared to a prior forecast of about a $10 million loss.

Fluence blamed supply chain issues and delays in ramping up contract manufacturing operations in Houston. The company said demand remains strong and that it has taken steps to increase daily production.

Viant Technology dropped 10% after launching a public offering of 8.5 million Class A shares by a selling stockholder. The company said it would receive no proceeds from the base offering.

Wednesday’s Biggest Movers

Wednesday saw broad swings across market caps. GE Vernova rose nearly 6%, while SpaceX gained over 5% and AMD climbed 4%.

Arista Networks added 3%, while Coherent and Credo Technology each gained around 7%.

On the downside, Exxon Mobil fell 2.7% and Chevron dropped 2.2%. J.B. Hunt Transportation fell 13%, one of the steepest declines among large-cap names.

Among smaller stocks, LuxExperience jumped over 25% on a revenue beat despite missing on earnings. Gloo Holdings gained nearly 25%.

Lennar shares fell more than 2% on Thursday after the homebuilder cut its home delivery target for the full year a second time, citing interest rate pressure and worsening housing market conditions.

Nike shares rose 1.5% on heavy volume, one day after hitting their lowest close in 12 years. The company is set to report quarterly earnings on October 1.

The broader market edged higher in premarket trading as investors weighed a 25 basis point rate hike from the Federal Reserve and comments from Fed Chair Kevin Warsh signaling a continued hawkish approach to inflation.