Tesla, Apple, Intel, and AT&T rise premarket; Enphase Energy slumps

Investing.com -- U.S. stock futures rose Wednesday, gaining after President Donald Trump reined in his criticism of Fed chair Jerome Powell as well as offering hope the trade war with China can be cooled.

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

• Tesla (NASDAQ:TSLA) stock gained 7% after the EV manufacturer reported first-quarter profits at its core auto business that were better than rock-bottom estimates, while CEO Elon Musk announced plans to spend more time concentrating on running his many companies.

• Apple (NASDAQ:AAPL) stock rose 3% and Meta Platforms (NASDAQ:META) gained 4.6% despite the tech giants being fined hundreds of millions of dollars by the European Union for not following the bloc’s rules governing tech companies.

• Intel (NASDAQ:INTC) stock gained 4.9% after Bloomberg reported the chipmaker is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies.

• AT&T (NYSE:T) stock rose 3.9% after the telecom giant beat estimates for wireless subscriber additions in the first quarter, driven by steady demand for its plans that bundled high-speed fiber services and 5G mobile offerings.

• Boston Scientific (NYSE:BSX) stock gained 8.6% after the medical device maker reported first-quarter earnings and revenue that surpassed expectations, seeing robust growth across its business segments.

• Philip Morris (NYSE:PM) stock rose 4.2% after the tobacco giant posted a solid first-quarter report, and raised its full-year 2025 earnings guidance.

• Thermo Fisher (NYSE:TMO) stock rose 1.7% after the medical devices company reported better-than-expected profit and revenue for the first quarter, helped by resilient demand for its products and services used for developing therapies.

• GE Vernova (NYSE:GEV) stock soared 6.5% after the energy equipment maker reported first-quarter earnings and revenue that beat analyst expectations.

• BP (NYSE:BP) ADRs rose 3.2% after activist investor Elliott went public with a stake of more than 5% in the struggling British oil major.

• SAP (NYSE:SAP) ADRs soared 8.1% after the German software giant reported better-than-expected first-quarter earnings, driven by strong growth in its cloud business.

• Enphase Energy (NASDAQ:ENPH) stock slumped 12% after the energy technology company’s first-quarter results missed expectations, while the low end of its second-quarter revenue outlook also fell short.