US Stocks to Watch: Apple, Qorvo, JD.com, Rivian, Nukkleus, and More

Dow Jones
01-17

Stock futures rose Friday and bond yields retreated, a day after the S&P 500's three-session winning streak was snapped, led lower by a slump in technology stocks.

These stocks were poised to make moves Friday:

Apple was up 0.6% in premarket trading. Shares of the iPhone maker dropped 4% on Thursday to $228.26, the stock's lowest close since Nov. 18, and its largest daily percentage decrease since Aug. 5. The company fell to third place in terms of market share in China, according to data from research firm Canalys, as domestic manufacturers took advantage of Apple's lack of artificial-intelligence features available on phones purchased in the country.

Qorvo jumped 7.2% after activist investor Starboard Value amassed a 7.7% position in the company, which makes radio-frequency chips for connectivity in Apple iPhones, iPads, Apple Watches, and other wireless devices. Starboard is seeking changes to boost the company's lagging share price, The Wall Street Journal reported, citing people familiar with the matter.

Western Digital, the maker of data-storage devices, said it expects fiscal second-quarter earnings at the lower end of prior guidance of $1.75 to $2.05 a share, saying it was seeing a "more challenging pricing environment" in its flash business. Western Digital said revenue in the period was expected at the midpoint of its previous guidance range of $4.2 billion to $4.4 billion.

UnitedHealth shares were the big loser Thursday, finishing down 6%, after the health insurer reported weaker-than-expected fourth-quarter results for its insurance division. Revenue at the division was $74.1 billion, below analysts' estimates of $75.2 billion. The stock was rising 0.5% in premarket trading.

Nukkleus shares jumped 37% in premarket trading Friday. The fintech firm Nukkleus said on Thursday that it has regained compliance with the market value of listed securities requirement as outlined in Nasdaq Listing Rules and the market value of publicly held shares requirement as outlined in the rules.

US-listed shares of JD.com jumped 6% in premarket trading Friday. The Chinese e-commerce giant announced the launch of a gifting feature, which allows users to share their gifts to other parties through WeChat with just one click, when shopping on JD.com.

J.B. Hunt Transport Services declined 11% after fourth-quarter revenue fell 5% to $3.15 billion, just topping analysts' estimates of $3.13 billion, on lower revenue per load, excluding fuel surcharge revenue, across the company's intermodal and truckload segments.

Rivian Automotive rose 3.3% after the electric-vehicle maker said it closed a loan agreement with the U.S. Department of Energy for up to $6.6 billion to support construction of a new manufacturing facility in Georgia. Rivian said the loan would help create 7,500 new manufacturing jobs and accelerate production of the company's new R2 SUV and R3 crossover.

Plug Power gained 1.5% after it closed a $1.66 billion loan guarantee from the Energy Department, which the hydrogen energy company said would be used to construct up to six U.S. projects to produce and liquify zero- or low-carbon hydrogen.

MoonLake Immunotherapeutics was rising 4.9% to $43.50 after Goldman Sachs upgraded the stock to Buy from Neutral with a price target of $82.

Earnings reports are expected Friday from Truist Financial, SLB, Fastenal, State Street, and Regions Financial.

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