By Joe Woelfel

Stocks rose Tuesday after U.S. inflation at the producer level cooled slightly in December.

These stocks were making moves Tuesday:

Nvidia was up 1%, rebounding from Monday's decline of 2% after the Biden administration outlined new rules that impose caps on how many advanced AI chips can be exported to certain countries, along with additional licensing requirements for AI technology. As Barron's has reported, the incoming Trump economic team could revoke or change the rules. Micron Technology, which fell 4.3% on Monday, also rebounded and was trading up 1.1%.

Palantir Technologies gained 4.1% to $67.66. Shares of the AI software company fell 3.4% on Monday and have declined 14% this year coming into Tuesday's session after soaring 340% in 2024. Analysts at Jefferies late Monday said the stock may face more downside on multiple compression risks. The firm maintained an Underweight rating on Palantir with a price target of $28.

Eli Lilly declined 7.5% after the pharmaceutical company reported sales of blockbuster GLP-1 medicines Zepbound and Mounjaro that missed analysts' estimates.

KB Home was up 5.8% after the home builder posted fourth-quarter earnings that rose from a year earlier as revenue jumped to $2 billion. Net orders in the period soared 41% as "buyers continued to demonstrate a desire for homeownership and housing market conditions improved relative to last year, despite ongoing mortgage interest rate headwinds, " KBH said.

Signet Jewelers was falling 19% after the world's largest retailer of diamond jewelry reduced sales expectations for the fourth quarter, saying it expects sales in the period of $2.32 billion to $2.335 billion, down from a prior forecast of $2.38 billion to $2.46 billion. Holiday same-store sales declined 2%.

ServiceTitan, a software platform for trade businesses, reported a fiscal third-quarter loss of $1.74 a share, wider than a loss of $1.53 a year earlier. Revenue rose 24% to $199.3 million and topped analysts' estimates of $198.5 million. It was the company's first earnings report since going public in December. The stock fell 7.3%.

IAC, the Barry Diller-backed conglomerate, said its board approved the spinoff of Angi, the home-services unit formerly known as Angie's List that IAC bought in 2017. As part of the plan, IAC said Chief Executive Joey Levin will step down and become an advisor to the company. Levin also will be appointed executive chairman of Angi following the completion of the spinoff. IAC shares were down 3.6% while Angi stock jumped 4.8%.

Aehr Test Systems slumped 25% after the maker of test systems for sensors and semiconductors swung to a fiscal second-quarter loss and said that growth in silicon carbide sales outside of China should remain challenging before recovering in 2026.

Applied Digital surged 17% after Macquarie agreed to invest up to $5 billion in data centers being built by the AI infrastructure company.

Celanese was upgraded to Buy from Underperform at Bank of America and shares of the chemicals company were rising 5.1%.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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January 14, 2025 09:53 ET (14:53 GMT)

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