US stock futures pointed to a higher open for Wall Street Thursday following four straight days of losses for the S&P 500.
These stocks were set to make moves Thursday:
TSMC (TSM) - Taiwan Semiconductor Manufacturing, a major supplier to Nvidia and Apple, reported first-quarter earnings rose 8.9% from a year earlier and topped analysts’ expectations. Quarterly revenue in U.S. dollars rose 13% to $18.87 billion. For the second quarter, TSMC projected revenue of between $19.6 billion and $20.4 billion. Shares of the the world’s largest third-party semiconductor chip manufacturer were rising 1.3% in premarket trading.
Alcoa (AA) - Alcoa reported an adjusted loss in the first quarter of 81 cents a share, wider than estimates that called for a loss of 64 cents. The company said the results reflected lower average realized third-party prices for aluminum and higher production costs. Revenue fell 2.7% to $2.6 billion but topped forecasts. “The market is really starting to shape up favorably for the company,” CEO William Oplinger told Barron’s. “Aluminum prices have been going up on the back of strong demand.” Alcoa shares were rising 2.4%.
CSX (CSX) - First-quarter earnings at railroad operator CSX fell to 46 cents a share from 48 cents a year earlier but topped analysts’ expectations. Revenue in the period fell 1% to $3.68 billion as “lower fuel surcharge, a decline in other revenue, weaker trucking revenue, and reduced export coal prices offset gains in merchandise pricing and higher intermodal and coal volumes,” CSX said. The stock rose 2.9%.
Las Vegas Sands (LVS) - Las Vegas Sands posted a first-quarter profit of 66 cents a share, up from 19 cents a year earlier. On an adjusted basis, earnings were 75 cents a share, beating Wall Street estimates of 62 cents. The casino company said revenue rose almost 40% to $2.96 billion. Las Vegas Sands said it experienced strong growth in Macao and Singapore. Shares of Las Vegas Sands declined 1.5%.
Equifax (EFX) - Equifax forecast second-quarter revenue of $1.41 billion to $1.43 billion, missing expectations. The company said it was maintaining its 2024 guidance, which reflects expectations of a decline of 11% in U.S. mortgage credit inquiries. Shares of the consumer credit reporting agency were down 5.6% in premarket trading.
Duolingo (DUOL) - Duolingo was rising 6.6% in premarket trading after it was announced the stock would be added to the S&P MidCap 400 on April 22. The provider of language-learning services will replace Cable One, which is moving to the S&P SmallCap 600.
Trump Media & Technology Group (DJT) - Trump Media & Technology Group was up 5.5% in premarket trading. Shares of the parent company of the Truth Social platform on Wednesday rose 16%—their best one-day performance since March 26—after falling nearly 30% over the previous two sessions.
Lithium Americas (LAC) - Lithium Americas was falling 21% to $5.25 after its public offering of 55 million shares was priced at $5 each.
Earnings reports are expected Thursday from Netflix, Intuitive Surgical, Blackstone, Elevance Health, D.R. Horton, PPG Industries, Genuine Parts, KeyCorp, Ally Financial, and Alaska Air.
Netflix (NFLX) - Netflix was up 0.4% in premarket trading ahead of its first-quarter earnings report scheduled for after the closing bell Thursday. For the quarter, the company projects revenue of $9.24 billion, up 13.2% from a year earlier, with profit of $4.49 a share. Wall Street expects revenue of $9.27 billion, earnings of $4.51 a share, and a net gain of 5.1 million subscribers in the period.
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