US PRE-MARKET MOVERS: NVDA, MU, BABA, NXT, NBIS, SATS, WIX
ES +0.2% NQ +0.7% RTY +0.2%
- NVDA +2.2%: CEO Huang joins Trump’s China trip, igniting hopes for a H200 deal
- MU +5.9%: BofA raised its PT on Co. to $950 (prev. $500)
- BABA -2%: Rev. way light
- NXT +14%: EPS & rev. topped alongside raising FY top line guidance
- NBIS +13%: Adj. EBITDA & rev. beat
- SATS +4.5%: FCC approved Cos. $40bln sale of wireless spectrum to T & SpaceX
- WIX -15%: Top & bottom line disappointed
Re. Trump/Xi meeting, CEO’s/senior execs attending are:
- AAPL -0.2%
- BLK flat
- BX -0.2%
- BA +0.6%
- CSCO -0.1%
- C -0.5%
- COHR +8%
- GE -0.1%
- GS -0.3%
- ILMN +1.4%
- MA -0.6%
- META -0.4%
- MU +5.9%
- NVDA +2.2%
- QCOM +4.3%
- TSLA +1.1%
- V -0.5%
Context
The pre-market movements highlight significant volatility among key stocks, particularly in tech and telecommunications sectors. NVIDIA's rise might be fueled by optimism regarding a potential U.S.-China trade deal, which could impact supply chains, while Micron's strong performance reflects positive sentiment from an analyst upgrade. Meanwhile, Alibaba’s downward adjustment underscores ongoing revenue concerns, suggesting a cautious sentiment in the broader market, especially for Chinese equities.
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