US futures contracts held steady on Thursday as uncertainty over the health of the US economy and the pace of possible Federal Reserve interest rate cuts persist.
These stocks made moves Thursday:
Tesla - Tesla plans to launch the advanced driver assistance system that it calls Full Self Driving technology in China and Europe in the first quarter of next year, pending regulatory approvals. The shares rose 2.5% in premarket trading.
Nvidia - Nvidia, responding about the US Department of Justice sending out subpoenas as part of an antitrust probe, said it has been in contact with the government agency but hasn’t been subpoenaed. The shares rebounded 1% in premarket trading.
C3.ai - C3.ai missed quarterly subscription revenue estimates, as enterprises tightened spending amid economic uncertainties, sending its shares down by 19.3% in premarket trading.
ChargePoint - ChargePoint shares are 9.5% lower in premarket trading after the company reported soft Q2 results and disappointing guidance for the current quarter, and said it plans to cut its workforce as part of a reorganization.
Faraday Future - Faraday Future shares jumped 13% in premarket trading after soaring 52.7% yesterday. Early Tuesday, Faraday Future Intelligent Electric announced the launch of a co-creation campaign titled “Your Vision, Our Drive: Co-Creating the Future of Affordable AI EVs.”
NIO - NIO shares rose 1.7% in premarket trading ahead of it earnings. The Chinese EV maker is set to report second-quarter earnings on Thursday morning. For the second quarter, Wall Street is looking for a per-share loss of 31 cents from sales of $2.4 billion, according to FactSet. A year ago, NIO lost 45 cents a share from sales of $1.2 billion.
U.S. Steel - U.S. Steel shares rebounded 2.5% in premarket trading after tanking 17.5% yesterday after reports Biden would block Nippon Steel takeover. A spokesman for U.S. Steel said that the company had not received any updates or executive orders related to the CFIUS process and that it saw no national security issues with the transaction. He added that the company planned to continue to pursue all legal options to ensure that the transaction closed.
Hewlett Packard Enterprise - Hewlett Packard Enterprise shares dropped 0.4% in premarket trading despite the company posting solid earnings and revenue that came in above Wall Street’s expectations. It seems investors were much more interested in the company’s bottom line, and may have been perturbed by weaker-than-expected margins that suggest lower profits in its closely watched data center server business.
Eastside Distilling - Eastside shares rocketed 152.3% in premarket trading. Eastside Distilling signed merger with Beeline Financial, a privately held mortgage technology company that operates an end-to-end, all-digital, AI-enhanced platform for homeowners and property investors.
Verint - Verint Systems shares plunged 14.3% in premarket trading after it missed estimates on the top and bottom line in the second quarter.
XPO Logistics - The trucking company dropped 4.9% in premarket trading after saying preliminary less-than-truckload tonnage dropped 4.6% in August from the year-earlier period. Management blamed “a soft demand environment.”
Copart - The online car auction service slumped 6.1% in premarket trading after fiscal fourth-quarter earnings of 33 cents per share missed the consensus analyst estimate of 37 cents, according to FactSet. Gross income and operating income were also shy of Street expectations.
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