Stock futures declined modestly Thursday, a day after the Dow Jones Industrial Average and S&P 500 closed at record highs and as Wall Street awaited the latest reading on U.S. consumer inflation.
These stocks were poised to make moves Thursday:
Chinese ADRs up in premarket trading. YINN rose 4%; Trip.com rose 3.9%; XPeng rose 3.2%; Alibaba, PDD Holdings rose 1.4%.
Tesla Motors was up 0.8% ahead of its highly anticipated Robotaxi Day scheduled for Thursday evening. The electric-vehicle maker likely will discuss the state of its self-driving technology and provide a road map to the start of its self-driving cab service within a couple of years. Analysts at Wedbush said they see Robotaxi Day as a "seminal and historical day for [CEO Elon} Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future."
Broadcom fell 0.8% in premarket trading after shares of the chip company rose 2.9% Wednesday to set a closing record high of $185.95. The stock has risen five of the past six days, and has gained 66% this year and 113% over the past 12 months.
SUPER MICRO COMPUTER INC declined 0.8%. Analysts at Barclays reduced their estimates for the server maker's fiscal 2025 earnings to $3.09 a share from $3.50, writing in a research note it expects gross margins at the company likely below expectations. Barclays maintained its Equal Weight rating on the stock and price target of $42.
10x Genomics, Inc. was falling 26% after the life-sciences technology company said it expects third-quarter revenue of about $151.7 million, down 1% from a year earlier and below analysts' estimates of $162.2 million. CEO Serge Saxonov said in a statement that modifications made to the company's commercial processes and organization 'to increase effectiveness represented a significant change in how we engage with customers. The transition 'was more disruptive than we anticipated, especially in the Americas."
Toronto-Dominion Bank was down 3.1%. The Canadian bank expected to pay about $3 billion in penalties and have limits placed on its growth in the U.S. as part of a settlement over charges it failed to properly monitor money laundering by drug cartels.
AZZ Inc reported fiscal second-quarter adjusted earnings of $1.37 a share, beating estimates by 5 cents, and the metal coatings and welding services company raised its fiscal 2025 profit forecast. The stock was down 1.4%.
Earnings reports are expected Thursday from Delta Air Lines, Domino's Pizza, NeoGenomics, and Tilray Inc..
Delta Air Lines was up 0.2% in premarket trading ahead of the release of the carrier's third-quarter earnings. Analysts expect Delta to post a profit of $1.52 a share on sales of $14.6 billion. The company last month said earnings would come in at the higher end of the $1.70 to $2 a share range that management previously had predicted. The earnings report will include the five days in July when the airline was forced to ground about 7,000 flights after a content update by CrowdStrike crippled Microsoft computers around the world.
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