US stock futures fell Thursday, coming off gains made in the previous session following consumer inflation data that have Wall Street believing the Federal Reserve will cut interest rates when it meets next week. A reading on wholesale inflation will be released Thursday.
These stocks were poised to make moves Thursday:
Tesla - Tesla shares were up 0.4% in premarket trading at $426.30, after rising Wednesday by 5.9% to $424.77, an all-time closing high. During the session, the stock traded as high as $424.88, an intraday record high. Shares of the electric-vehicle maker have risen for six consecutive consecutive sessions, gaining 21% over the period. They have gotten a boost -- jumping 69% -- since Donald Trump was elected U.S. president on Nov. 5 -- investors believe CEO Elon Musk's relationship with Trump will benefit the EV company. Destiny Tech100 rose 5.6% in premarket trading.
Alphabet - Alphabet also set a record closing high, ending Wednesday at $195.40, up 5.5%. The parent company of Google announced Gemini 2.0, an update to the company's flagship artificial-intelligence model. Alphabet said developers will be the first to have access to Gemini 2.0, with general availability in January. In premarket trading, Alphabet was rising 0.4%.
Adobe - Adobe tumbled 10% after the software company and creator of apps such as Photoshop and Illustrator posted fiscal fourth-quarter adjusted earnings and revenue that beat analysts' estimates but issued first-quarter and fiscal-year revenue guidance below expectations. Adobe anticipates revenue in the first quarter of between $5.63 billion to $5.68 billion, below consensus of $5.72 billion. The company expects fiscal 2025 revenue of between $23.3 billion and $23.6 billion, which is below estimates of $23.8 billion.
Uber - Uber Technologies rose 3.4% in premarket trading after shares of the ride-hailing company declined 5.8% on Wednesday following an announcement from General Motors that it would be scrapping its Cruise robotaxi program. Uber had announced in August that would it be partnering with GM to bring Cruise autonomous vehicles to the Uber platform. The partnership was expected to launch in 2025.
Broadcom - Broadcom was down 0.4% ahead of fiscal fourth-quarter earnings from the semiconductor company. Broadcom stock has risen 64% this year, getting a lift from spending on artificial-intelligence data centers. Shares rose 6.6% on Wednesday on a report that Broadcom will make custom AI accelerator chips for Apple.
Chewy - Chewy, an online retailer of pet products, saw its shares drop by 3.1% following the announcement of a significant public stock offering by its largest shareholder. Buddy Chester Sub LLC, linked to BC Partners, is initiating an underwritten public offering of $500 million worth of Chewy's Class A common stock.
Earnings reports are expected Thursday from Broadcom, Costco Wholesale, Ciena, and RH.
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