Here are some stocks making moves on Thursday morning, an hour and a half before the opening bell. You can find more movers on our trending tickers page.
Nvidia (NVDA): Shares rose 1.6% higher on a Bloomberg report that the Trump administration plans to repeal AI chip export restrictions. According to the report, the administration will repeal a Biden-era rule, known as the AI diffusion rule, which caps the amount of AI chips that could be exported in order to prevent smuggling to China. Advanced Micro Devices (AMD) stock also gained 1.5%.
Arm (ARM): Shares tumbled 8% after the chip technology provider issued a weak revenue forecast and warned about higher costs from the US-China trade war. Arm collects royalties for its chip designs. If the smartphone and tech market slow down due to tariffs, investors worry it could dent Arm’s revenue.
AppLovin (APP): The software company that helps monetize gaming apps announced it sold its mobile gaming business to Tripledot for $400 million, sending the stock rocketing 13% higher in premarket trading. AppLovin also reported 40% annual revenue growth and earnings that surpassed Wall Street’s expectations.
Shopify (SHOP): Shares dropped over 8% after the e-commerce company’s current quarter outlook disappointed Wall Street. The Canadian company forecast revenue to grow by a mid-twenties percentage for the June quarter, compared with a year earlier. Analysts were looking for 22.4% growth.
Warner Bros. Discovery (WBD): The company missed first quarter revenue estimates on Thursday, as it wasn’t able to offset weakness in its traditional TV business with box office hits from its studios division. Revenue fell 10% to start the year, though Warner Bros. has made a stronger start to the current quarter with titles such as “Sinners” and “A Minecraft Movie.” WBD stock dropped nearly 2% in premarket trading.
Read More: Dow, S&P 500, Nasdaq edge higher as Trump touts ‘major’ US-UK trade deal
