Stock futures were rising Thursday as investors bet that President Donald Trump’s visit to China could help extend a recent tech rally.
These stocks were making moves in premarket trading:
Cisco surged 16% after the networking company showed off its artificial-intelligence credentials with a strong fiscal third-quarter earnings report. The shares surpassed their dot-com era high in December and had risen more than 30% for the year as of Wednesday’s close of trading.
Micron Technology fell 2% as investors opted to lock in some profit following a stellar rally for the memory-chip maker. Micron shares jumped 4.8% on Wednesday, lifting the company’s market capitalization above $900 billion for the first time ever.
NVIDIA gained 2% after closing Wednesday at a record high of $225.83. The leading maker of AI chips received U.S. clearance to sell H200 hardware —which is specifically designed to meet American export restrictions—to around 10 Chinese companies, Reuters reported Thursday, citing people familiar with the matter. However, Nvidia hasn’t made any H200 deliveries because of opposition from Beijing to its domestic companies ordering the hardware, according to the report.
Fervo Energy Co. dropped 3%. The geothermal energy stock jumped 35% on Wednesday in its trading debut on the Nasdaq. Fervo sold $1.9 billion worth of shares at $27 each late Tuesday in the largest energy or utility initial public offering since 2013, according to Renaissance Capital.
Doximity, Inc. plummeted 23% after the telehealth company’s fiscal fourth-quarter profit missed analysts’ targets. Doximity’s fiscal 2027 revenue guidance also fell well short of Wall Street’s expectations.
StubHub Holdings soared 15% after the online ticket resale marketplace swung to a first-quarter profit. CEO Eric Baker touted strong demand for live events as revenue topped Wall Street estimates.
Bullish, Intuitive Machines, Klarna, Ondas, Viking Holdings, YETI, Applied Materials, Figma, Xanadu Quantum, and York Space Systems are scheduled to report earnings Thursday.
