Walmart, Nvidia, Exact Sciences, Bath & Body Works, and more

Major U.S. stock indexes fell Thursday afternoon, reversing early gains as the rally fueled by Nvidia’s (NVDA) huge earnings faded after the bell on Wednesday. The Dow Jones Industrial Average fell 0.7%, the S&P 500 fell 0.9%, and the tech-heavy Nasdaq fell 1.1%.

Nvidia shares, which jumped as much as 5% earlier in the session on the chipmaker’s better-than-expected results, fell nearly 2% in recent trading.

Jacobs Solutions (J) led declines in the S&P 500 as shares fell nearly 10% after the company reported weaker-than-expected results, citing a decline in the value of one of its investments, along with a significantly higher full-year tax rate.

Bath and Body Works (BBWI) shares fell 25% after the retailer’s latest earnings report. Sales and profits fell, and it cut its full-year forecast as CEO Daniel Heff said the strategy by previous leadership to pursue new avenues of growth had failed to deliver, and had also hurt sales of its core categories of soaps, candles and other scented products.

Cybersecurity company Palo Alto Networks (PANW) saw its shares fall nearly 7%, one day after reporting quarterly results and full-year forecasts that were largely in line with analyst consensus. The company also said it would buy AI cybersecurity company Chronosphere for $3.35 billion.

Shares of Walmart (WMT) jumped 5%, making it the best-performing stock in the S&P 500 on Wednesday, after the retail giant’s third-quarter results were better than analysts expected, and it raised its full-year forecast. Walmart also said it would move its listing to the Nasdaq from the New York Stock Exchange, just one week after announcing its CEO succession plan.

Shares of Exact Sciences (EXAS) rose 17% after Abbott Laboratories (ABT) approved the maker of a cancer screening test in a deal that values ​​Exact Sciences at $21 billion.

Regeneron Pharmaceuticals (REGN) stock rose more than 4% after the company received FDA approval for a higher-dose version of a drug it makes to treat eye diseases, along with approval for a new dosing schedule for the drug.

Oil and gold futures lost ground. The yield on 10-year Treasury bonds fell. There was little change in the US dollar against the euro, and it rose against the pound and the yen. Most major cryptocurrencies declined, with Bitcoin falling below $87,000.