Midday movers: HP Inc., Nvidia, Coinbase and more

Investing.com -- U.S. were rising on Wednesday as investors await the release of important labor market economic data later this week.

Here are some of the biggest U.S. stock movers today:

• HP (NYSE:HPQ) stock fell 7% after the information technology company tempered expectations for annual profit, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China.

• Hewlett Packard Enterprise (NYSE:HPE) stock rose 3% after the tech company forecast fourth-quarter revenue below expectations, at a time when demand for the company's servers is taking a hit from soft enterprise spending.

• Nvidia (NASDAQ:NVDA) stock rose 2.1%, adding more gains after the chipmaker recorded its highest-ever closing price on Tuesday, as it has become the focal point of a recent surge in enthusiasm around the applications of generative artificial intelligence.

• Coinbase (NASDAQ:COIN) stock fell 0.8%, handing back some of the previous session’s 15% gains as the cryptocurrency exchange benefited from a landmark decision by an appeals court in the U.S. which set the stage for a spot bitcoin exchange-traded fund.

• Johnson & Johnson (NYSE:JNJ) stock rose 0.4% after the pharmaceutical giant forecast 12.5% growth in its annual adjusted profit, a downwards revision, after completing the separation of consumer health company Kenvue (NYSE:KVUE), up 0.7%.

• Texas Instruments (NASDAQ:TXN) stock fell 0.4% after Bernstein downgraded its stance on the chipmaker to ‘underperform’ from ‘market perform’, saying it’s poised to fall 15%.