Qualcomm, Corning, Casey's, Braze, and More Stocks That Explain Today's Market

Dow Jones09-09 18:31

Stock futures were sliding on Wednesday as fresh strikes between the U.S. and Iran drove oil prices back above $100 a barrel for the first time since July.

Some AI stocks traded higher despite worries about a flare-up in inflation. Chip maker Qualcomm added 1.4% ahead of the opening bell, having climbed 3.2% on Tuesday thanks to a deal with Amazon.

Glassmaker Corning and memory-card maker Sandisk were also rising in the premarket, but chip makers Advanced Micro Devices and Intel slid.

Casey's General Stores sank 8%. The convenience-store chain posted better-than-expected first-quarter earnings late Tuesday, but investors were looking for more given that shares were up 33% for the year.

Braze tumbled 12% after the marketing software developer reported better-than-expected second-quarter results. Wall Street was hoping for more evidence that AI can boost the company's revenue growth.

ServiceTitan slumped 18% after a disappointing revenue outlook overshadowed the software company's second-quarter earnings beat.

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