By Caitlin McCabe
Nvidia $(NVDA)$, Advanced Micro Devices $(AMD)$: Chip stocks rebounded somewhat in premarket trading, with Nvidia, Micron Technology and AMD each rising more than 2%. The sector has been hit hard recently amid a broader rotation out of big tech stocks.
NatWest Group (UK:NWG): Shares of the U.K. bank jumped more than 7% after the lender posted better-than-expected results and upgraded its annual guidance. That put the stock on course to close at its highest level since 2014.
DexCom $(DXCM)$: Shares of the diabetes-device maker plunged more than 30% premarket after the company cut its fiscal 2024 revenue outlook. The chief executive said a shortage of new patients was part of the problem.
Coinbase $(COIN)$: The crypto exchange's stock leapt more than 4% premarket, tracking a similar move in the price of bitcoin, which rose above $67,000. The move also followed Coinbase's announcement that it had added OpenAI's Chris Lehane and two others to its board.
Hermès International (FR:RMS)****: The Birkin handbag-maker's shares rose nearly 5% after the company reported growth in sales, helping it buck a global slowdown in luxury demand. Hermes said momentum continued across all regions except for Asia.
Mercedes-Benz Group (XE:MBG): The German car maker lowered the upper range of a profitability target and posted a drop in quarterly earnings. It pointed to a tough Chinese market and trade tensions that could hamper its business down the road. Its Mercedes shares edged higher in Frankfurt, recouping earlier losses.
Up ahead, earnings from 3M $(MMM)$****, Bristol Myers Squibb $(BMY)$****, Colgate-Palmolive $(CL)$ and Charter Communications $(CHTR)$ are due before the market's open.
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(END) Dow Jones Newswires
July 26, 2024 05:13 ET (09:13 GMT)
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