U.S. stock futures traded higher Thursday, as solid quarterly corporate earnings overshadowed concerns over interest rates remaining elevated for longer than expected.
Here are some of the biggest premarket U.S. stock movers today:
Nvidia (NASDAQ:NVDA) stock soared over 7% after the chipmaker’s first quarter earnings blew past estimates, as well as offered up a stronger-than-expected revenue forecast for the current quarter, as it continued to benefit from strong demand in the growing AI industry.
Advanced Micro Devices (NASDAQ:AMD) and Broadcom (NASDAQ:AVGO) rose over 2% each, with Nvidia’s peers benefiting from the continued AI demand, while memory chip maker Micron Technology (NASDAQ:MU) rose 3.8% and chip designer Arm Holdings (NASDAQ:ARM) rose nearly 4%.
News Corp (NASDAQ:NWSA) stock rose 2% after the news giant signed a content sharing deal with OpenAI, granting the latter access to content from several of its biggest publications.
Live Nation Entertainment (NYSE:LYV) stock fell 6.8% following a report that the Department of Justice was planning a lawsuit against the firm over allegedly monopolistic practices by its Ticketmaster unit, and that lawmakers were also seeking a separation of Ticketmaster from the firm.
Snowflake (NYSE:SNOW) stock rose 3.9% after the data cloud analytics firm forecast second-quarter product revenue above estimates and raised its annual expectations.
DuPont (NYSE:DD) stock climbed 5.4% following the U.S. conglomerate's announcement of plans to split into three publicly traded companies.
Taiwan Semiconductor Manufacturing (NYSE:TSM) stock rose 2.7% after the Taiwanese contract chipmaker forecast annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.
Medtronic (NYSE:MDT) stock rose 1% after the medical device maker beat estimates for quarterly profit, aided by a post-pandemic pickup in surgical volumes at hospitals that boosted demand for its medical devices.
