Nvidia’s results, Indian tariffs, French markets - what’s moving markets
Investing.com -- US stock futures slipped lower Friday, weighed by disappointing corporate earnings from some major names.
Here are some of the biggest premarket US stock movers today:
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FedEx (NYSE:FDX) stock slumped 8.6% after the parcel delivery company cut its annual profit and revenue outlook, citing the "continued weakness and uncertainty in the U.S. industrial economy."
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Nike (NYSE:NKE) stock fell 7.3% after the footwear giant warned that sales will drop by a double digit percentage in its current quarter as it contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.
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Micron Technology (NASDAQ:MU) stock fell 3.2%, reversing earlier gains after the provider of memory and storage solutions forecast third-quarter revenue above Wall Street estimates, signaling strong demand for its high-bandwidth memory chips used in AI models.
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Tesla (NASDAQ:TSLA) stock rose 0.4%, with the number of its electric vehicles traded in this month on pace to hit a record high, Reuters reported on Thursday, citing data from national car shopping website Edmunds.
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Super Micro Computer (NASDAQ:SMCI) stock rose 1.4% after JPMorgan upgraded its stance on the leading player in the AI server market to ‘neutral’ from ‘underweight’, saying the company has established itself as a leader in this space, particularly known for its advanced direct liquid cooling technology and next-generation GPU capabilities.
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Nio (NYSE:NIO) ADRs fell 4.3% after the Chinese electric vehicle maker reported worse-than-expected fourth-quarter results and disappointing guidance for the current quarter.
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AstraZeneca (NASDAQ:AZN) ADRs fell 0.8% after the drugmaker said it will spend $2.5 billion on a research and development hub in Beijing, as it scrambles to revive business in its second-biggest market after scandals including the arrest of its China president last year.
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Lennar (NYSE:LEN) stock fell 5.1% after the housebuilder’s first-quarter profits took a hit as high borrowing costs and shaky consumer confidence weighed heavily on its housing business.
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Luminar (NASDAQ:LAZR) stock rose 6.7% after the automobile technology firm reported a smaller than expected loss in the fourth quarter, improving from the previous year.