Pre-Bell | US Stock Futures Rise; AMD, Nvidia Jump 1%; SoundHound AI Soars 27%; Tempus AI, MP Materials Pop 9%; Trade Desk Plummets 32%

Tiger Newspress
Aug 08

U.S. stock futures ticked higher on Friday after the Dow Jones Industrial Average logged its second losing day in the past three.

Market Snapshot

At 8:17 a.m. ET, Futures tied to the Dow Jones Industrial Average rose 82 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures each climbed 0.2%. Advanced Micro Devices, NVIDIA up 1%; MP Materials Corp. up 9%.

Pre-Market Movers

Trade Desk Inc. stock plummeted 32% despite posting solid second-quarter earnings. Revenue came in at $694 million, up 19% from last year and ahead of expectations. The company forecast revenue of at least $717 million in the current quarter, implying a growth rate of 14%. The ad-tech company announced that CFO Laura Schenkein will be replaced by Alex Kayyal—a board member who spent nearly a decade at Salesforce in executive roles—on Aug. 21.

Expedia soared 15% after the travel booking company raised its full-year outlook on the back of second-quarter earnings that beat expectations late Thursday. It now sees 2025 revenue and gross booking growth of between 3% and 5% each, up from a range between 2% and 4%, previously.

Pinterest, Inc. shares fell 13% after the photo-sharing website disappointed Wall Street with its latest earnings report. Second-quarter earnings were 33 cents a share on revenue of $998 million, below the of 35 cents a share on revenue of $975 million expected by analysts, according to FactSet.

Twilio reported earnings that beat expectations late Thursday, sending shares of the cloud communications company down 15% early Friday. Revenue in the second quarter rose 13% year-over year to $1.2 billion while adjusted earnings per share came in at $1.19, comfortably ahead of estimates of $1.05 a share, according to FactSet.

Gilead Sciences stock rose 5% after it raised guidance on the back of strong demand for its HIV medicine and solid quarterly earnings late Thursday. CEO Daniel O’Day told Barron’s that the recent launch of its HIV prevention shot Yeztugo had started off well.

SoundHound AI Inc stock jumped 27% after the voice-based AI company beat expectations with a wide margin. Adjusted loss per share was 3 cents, better than the expected loss per share of on revenue of 5 cents. Revenue rose 217% year-over-year to $43 million. CEO Keyvan Mohajer called it the company’s “strongest ever quarter.”

Microchip Technology stock fell 5% as the chip maker reported quarterly earnings and gave guidance that left investors wanting more. Adjusted earnings came in ahead of expectations at 27 cents a share. Sales were large in line with analysts’ call of $1.1 billion, but down 13% from last year. The company forecast sales for the current quarter between $1.11 billion and $1.15 billion.

Take-Two shares rose 5% after the game developer reported better-than-expected results for its fiscal first quarter late Thursday. The Grand Theft Auto maker posted a loss of 7 cents a share, much better than the loss per share of 69 cents a share analysts polled by FactSet had expected. It also said it sees bookings for its fiscal 2026 between $6.05 billion and $6.15 billion, up from a previous guidance range of between $5.9 billion and $6 billion.

Block, Inc., the company behind Cash App and Square, rose 8% after it raised its full-year outlook late Thursday alongside its quarterly earnings report. It now sees 2025 gross profit of $10.17 billion and adjusted operating income of $2.03 billion, up from previous guidance of $9.96 billion and $1.9 billion, respectively.

Firefly Aerospace Inc. was on track to drop 7% on its second day of trading on the Nasdaq. It closed 34% above the initial public offering price Thursday and looked to be giving back some of those gains Friday.

Under Armour stock plummeted 16% as it said it expects sales to decline by between 6% and 7% in the current quarter. The sportswear retailer said the outlook considers uncertainty around trade policies and the broader macroeconomic environment, including tariffs.

Market News

Tesla to Streamline Its AI Chip Design Work, Musk Says

Tesla Motors will streamline its AI chip research to focus on its development of inference chips used to run AI models and make real-time decisions, CEO Elon Musk said, after a media report he had ordered the closure of the in-house Dojo supercomputer team.

Bloomberg News on Thursday cited people familiar with the matter as saying Musk had ordered the Dojo team to be disbanded, with team leader Peter Bannon departing the company.

Tempus AI Raises Outlook, CEO Cites Faster-Than-Expected Growth And Improved Margins

The AI-focused precision medicine and patient care company Tempus AI reported a second-quarter adjusted loss of 22 cents per share, beating analyst estimates for a loss of 24 cents per share.

Tempus AI reported quarterly revenue of $314.64 million, beating the consensus estimates of $296.85 million. Revenue increased 89.6% year-over-year.

“The business is performing well with revenues and margins growing faster than expected, contributing to our continued improvement in adjusted EBITDA on a year-over-year basis,” said Eric Lefkofsky, Founder and CEO of Tempus.

“We saw significant re-acceleration of our clinical volumes, which grew 30% in the quarter, as we delivered more than 212,000 NGS tests,” Lefkofsky said in a statement on Friday.

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