U.S. stock futures surged Thursday, as investors digested the Federal Reserve’s interest rate cut and indications of more reductions this year.
Here are some of the biggest premarket U.S. stock movers today:
Intel (NASDAQ:INTC) stock surged 28% after Nvidia (NASDAQ:NVDA), up 3.1%, announced a $5 billion investment in the chipmaker, with the investment coming as part of a broader collaboration between the two semiconductor giants to develop multiple generations of custom data center and PC products.
Advanced Micro Devices (NASDAQ:AMD) stock fell 5.8% after rivals Nvidia and Intel announced a strategic collaboration to develop AI infrastructure and personal computing products together.
Alphabet (NASDAQ:GOOGL) stock rose 1% after the Financial Times reported that China has decided to drop its antitrust investigation into Google as Beijing and Washington step up negotiations over trade, TikTok, and Nvidia.
Darden Restaurants (NYSE:DRI) stock fell 6.1% after the Olive Garden parent reported fiscal first quarter earnings and revenue that missed expectations, while maintaining guidance that barely meets consensus forecasts.
Dupont De Nemours (NYSE:DD) stock fell 0.1% after the chemicals company cut its third-quarter adjusted profit forecast to reflect the impact of reclassifying its heat resistant fiber brand, Aramids, as discontinued operations.
Novo Nordisk (CSE:NOVOb) stock soared 7.4% after the drugmaker said late-stage trial results for its once-daily obesity pill showed “significant” weight reduction and tolerability in line with its blockbuster Wegovy injection.
Cracker Barrel Old Country
Store (NASDAQ:CBRL) stock dropped 7.2% after the restaurant chain’s fourth-quarter earnings missed expectations, while its full-year guidance also disappointed.
FactSet (NYSE:FDS) stock fell 1% after the financial data and software firm missed earnings estimates in the fourth quarter, while the full-year earnings guidance also fell short.
American Express (NYSE:AXP) stock rose 1.5% after the credit card giant unveiled long-awaited upgrades to its U.S. Platinum cards, adding new perks worth over $3,500 annually while raising the annual fee by $200.
