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Stocks fell in premarket trading today as the shares of Nike (NKE-1.43%) and FedEx (FDX-0.78%) declined after the companies’ earnings disappointed investors. Futures tied to the S&P 500, Nasdaq 100 and Dow Jones Industrial Average pointed to a lower open as of about 7:45 a.m. EDT. The benchmarks declined yesterday.
The shares of Chinese electric-vehicle makers will be in focus again today after Nio’s (NIO-8.80%) net loss unexpectedly widened. Yesterday, Geely Auto’s (GELYF+2.17%) American depositary receipts gained 3% in U.S. trading after its earnings beat projections, but shares of its Zeekr EV unit declined 6.9% despite outpacing fourth-quarter expectations. Tesla (TSLA-0.78%) edged up about 0.5% in premarket trading today.
Here are some stocks to watch today:
Carnival
Carnival’s (CCL+0.74%) stock edged down about 0.9% ahead of the cruise operators earnings, scheduled at 9 a.m. EDT today.
FedEx
FedEx stock dropped 7.3% in premarket trading after it cut its full-year revenue and profit forecasts due to economic softening and uncertainty in the U.S., as well as severe weather.
Micron
Micron’s (MU+0.82%) shares fell 3.1% premarket, reversing postmarket gains. The memory-chip maker’s earnings, released after the close yesterday, exceeded expectations for fiscal second-quarter revenue and profit on AI-related demand. The company also boosted its forecasts for the current period.
Nike
Nike’s stock tumbled 6.4% before the open after the shoemaker reported a tough quarter as it sought to pivot back toward its athletic origins while navigating increased tariffs on China-made goods and a softening U.S. consumer market.
Nio
Nio’s ADRs fell 4% in premarket trading after the Chinese EV-maker’s net loss unexpectedly widened. The shares plunged 8.9% yesterday ahead of the results, and fell 8.8% in Hong Kong on Friday. The shares of Xpeng (XPEV-7.63%), Li Auto (LI-2.78%) and Zeekr also declined in premarket trading.
Nvidia
Nvidia’s (NVDA+0.80%) shares slid 0.8% in premarket trading as its AI conference wraps up today. CEO Jensen Huang said the chipmaker is partnering with quantum computing firms including Quantinuum and QuEra Computing to build a Boston-based research center that will integrate quantum computing with AI supercomputers.
