US stock futures declined as Wall Street dialed back expectations for interest-rate cuts after Federal Reserve Chairman Jerome Powell said the central bank wasn’t in a hurry to reduce rates.
These stocks were poised to make moves Friday:
Tesla, Rivian - Tesla was down 0.7% after falling 5.8% on Thursday following a report from Reuters that said Trump likely would eliminate $7,500 purchase tax credits for electric vehicles. Analysts generally see the credit rollback as neutral for Tesla since it has the scale and cost structure to be profitable without the credits. An elimination of the credits, however, were being perceived as a negative for the rest of the industry. Rivian Automotive was down 1.5% in premarket trading after tumbling 14% on Thursday.
Palantir - Palantir Technologies was rising 3.5% after the saying it planned totransfer its listingto the Nasdaq from the New York Stock Exchange on Nov. 26. Upon transferring, Palantir said it anticipates meeting the eligibility requirements of the Nasdaq-100 Index, which includes the largest non-financial companies listed on the exchange.
Applied Materials - Applied Materials reported fiscal fourth-quarter earnings that beat analysts’ estimates but shares fell 8% after the chip-equipment maker issued a disappointing outlook. Applied Materials said it anticipates fiscal first-quarter adjusted earnings of $2.29 a share, plus or minus 18 cents, on revenue of $7.15 billion, plus or minus $400 million. Wall Street was expecting adjusted earnings of $2.27 a share on revenue of $7.24 billion.
Vaccine Makers - Shares of vaccine makers such as Pfizer and Moderna declined after President-elect Donald Trump announced he was nominating Robert F. Kennedy Jr., a vaccine skeptic and harsh critic of federal health agencies, to lead the U.S. Department of Health and Human Services. Pfizer fell 0.5%, Moderna dropped 2.1%, BioNTech SE was down 2.8%, and Novavax slid 1.9%. The prospect of Kennedy leading HHS or a similar agency has raised major questions about the future of the health system.
AST SpaceMobile - AST SpaceMobile, the space-based broadband company, reported athird-quarter lossof $1.10 a share, well wider than a loss of 23 cents a share a year earlier and analysts’ estimates that called for a loss of 20 cents. Revenue of $1.1 million also missed forecasts of $1.8 million. The stock declined 12.4%.
Domino's Pizza, Pool, ulta beauty - Domino’s Pizza rose 7.7% after Berkshire Hathaway bought 1.3 million shares of the pizza chainthat were worth about $550 million on Sept. 30, according to a quarterly 13-F filing with the Securities and Exchange Commission. Warren Buffett’s company also initiated a holding in Pool, buying 404,000 shares that were worth $152 million on Sept. 30. Pool shares jumped 6.6%. Ulta Beauty fell 5.7% after Berkshire Hathaway sold nearly all its position in the beauty products retailer.
Alibaba - Alibaba is scheduled to reportfiscal second-quarter earningsbefore the stock market opens Friday. Wall Street expects the Chinese e-commerce giant to report adjusted earnings of 14.82 yuan ($2.05 a share) on sales of 239.5 billion yuan ($33.2 billion) in the period. U.S.-listed shares of Alibaba dipped 0.3%.
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