What happens to stocks if AI loses momentum?
Investing.com -- U.S. stock futures traded largely unchanged Thursday, as investors awaited the release of more important inflation and unemployment data.
Here are some of the biggest premarket U.S. stock movers today:
- Cisco Systems stock fell 1.5% after the networking equipment group announced a stronger-than-anticipated first-quarter revenue outlook, but noted some impact from sweeping U.S. tariffs during its just-ended fiscal year.
- Deere stock slumped 7.3% after the agricultural machinery giant reported better-than-expected third-quarter results, but shares fell 5% as the farm equipment manufacturer narrowed its full-year profit guidance amid ongoing market challenges.
- Tapestry stock dropped 16% after the fashion group unveiled income estimates for its current fiscal year that underwhelmed Wall Street expectations.
- Bumble stock dropped 9.9% after Bloomberg reported that shareholders are offering a block of shares at a significant discount to the day’s closing price.
- Shares of Birkenstock gained 3.5% after the iconic German shoemaker reported better-than-anticipated profit in its fiscal third quarter and backed its full-year outlook, despite the impact of elevated U.S. tariffs on the European Union.
- Advance Auto Parts stock fell 0.8% after the automotive aftermarket parts provider soft full-year outlook offset the better-than-expected second-quarter results.
- Coherent stock slumped 19% after the laser and optical components maker issued a mixed forecast for the current quarter.
- Dlocal stock soared 25% after the financial technology company reported net income for the second quarter that beat the expectations.
- Ibotta stock gained 35% after the digital marketing software company reported disappointing results for the second quarter and issued third quarter sales guidance that was below expectations.