Key Points To Watch Out For:
- Intel shares rose 7% after rumors of a potential deal with TSMC
- Tesla advanced 2% in premarket, despite still losing more than 40% in 2024
- Rheinmetall rose 4% in Frankfurt after announcing a 35% increase in sales
Intel (INTC): Possible alliance with TSMC boosts its share price
Intel shares rose 7% in premarket trading after Reuters announced that TSMC had contacted Nvidia and other US chip firms in order to invest in a joint venture that would manage Intel factories.
Tesla (TSLA): Slight recovery after a 40% fall in 2024
Tesla rose 2% in premarket trading, despite concerns about weak sales and Elon Musk’s role in U.S. politics. The stock has dropped more than 40% this year.
Stitch Fix (SFIX): Optimism after improved revenue forecast
Stitch Fix shares jumped 17% in premarket trading after raising its annual revenue forecast and announcing lower-than-expected losses in its last quarter.
Alcoa (AA), Nucor (NUE), U.S. Steel (X): Impact of new tariffs
Investors are keeping an eye on Alcoa, Nucor and U.S. Steel after the 25% tariffs on steel and aluminum imports came into effect. So far, the shares have remained unchanged in premarket trading.
Rheinmetall (RHM): Sales growth boosts share price
Rheinmetall shares rose 4% in Frankfurt, after posting a 35% increase in sales in 2023. The company has been boosted by prospects of increased defense spending in Europe.
Porsche (P911): Earnings warning weighs on its share price
Porsche fell 3.5% in Frankfurt after warning that its 2024 earnings will be impacted by investments and job cuts as part of its business transformation.
Today’s top earnings
Today, financial reports are pending from several key companies:
- Adobe (ADBE)
- Crown Castle (CCI)
- UiPath (PATH)
Investors will be watching for growth prospects in technology and telecommunications.
