U.S. Stocks to Watch: Nvidia, AMD, UnitedHealth, American Eagle, Exelixis, Grail, and More

Dow Jones
5 hours ago

Stock futures were down slightly Wednesday after the S&P 500 moved into positive territory for the year as tech stocks powered higher.

These stocks were poised to make moves Wednesday:

Nvidia gained 1.9% in premarket trading after the leading maker of artificial-intelligence chips jumped 5.6% on Tuesday following CEO Jensen Huang's announcement the company was partnering with Saudi Arabia's state-backed Humain on a 500-megawatt data-center project. Nvidia said the project would be powered by several hundred thousand of its most advanced graphics-processing units over the next five years.

Nvidia finished with a market cap Tuesday of $3.17 trillion, the first time the company closed above $3 trillion since Feb. 28, according to Dow Jones Market Data. Nvidia had surpassed Apple in market value at times during Tuesday's trading session, but closed slightly behind as Apple ended the day at $3.18 trillion.

Advanced Micro Devices rose 1.5% in premarket trading. The chip maker gained 4% on Tuesday after it was announced AMD also would be supplying semiconductors to Humain in a $10 billion project.

Palantir Technologies was rising slightly. The data analytics company jumped 8.1% on Tuesday to $128.10, a record closing high, and finished the session with a market cap of $302.3 billion, the first time it has closed above $300 billion.

First Solar jumped 23% on Tuesday to $191.60 but was down 1.6% in the premarket session. The solar company has closed higher for five straight sessions, gaining 51% over the span. The stock received a boost Tuesday from early drafts of the Republican tax and spending bill that weren't as bad for the sector as feared.

UnitedHealth rose 2.8% after the health insurance giant sank 18% on Tuesday to $311.38, the stock's lowest close since Oct. 30 2020, according to Dow Jones Market Data. On Tuesday, UnitedHealth pulled its outlook for 2025, citing challenges facing its Medicare Advantage business, and announced that its CEO stepped down.

American Eagle Outfitters slumped 14% after the apparel maker swung to a loss in its fiscal first quarter and pulled guidance for the rest of the fiscal year. "We are clearly disappointed with our execution in the first quarter. Merchandising strategies did not drive the results we anticipated, leading to higher promotions and excess inventory," said CEO Jay Schottenstein in a statement.

Clean-energy company Oklo reported a first-quarter loss of 7 cents a share, narrower than analysts' estimates that called for a loss of 10 cents and narrower than a year-earlier loss of 34 cents. The stock was down 2.7% in premarket trading. Oklo gained 11% on Tuesday after saying it had finished drilling to gather information about the proposed location of its first nuclear plant in what it called a " pivotal step" toward the production of commercial power.

Wolfspeed was rising 3.9% in premarket trading. Shares of Wolfspeed, which makes silicon-carbide technology for use in the automotive industry, rose 16% on Tuesday following a report from The Wall Street Journal that said Apollo Global Management engaged investment bank Moelis as the asset manager negotiates a possible debt restructuring with the company. The Journal report cited people familiar with the matter.

Grail fell 14% after the biotechnology company reported a narrower first-quarter loss and revenue of $31.8 million that rose from a year earlier but missed analysts' estimates of $35.2 million.

Earnings reports are expected Wednesday from Cisco Systems, CoreWeave, Dynatrace, Nextracker, Boot Barn, and DXC Technology.

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