US stock futures were rising Wednesday after the S&P 500 closed lower for a fourth consecutive session and Wall Street looked ahead to quarterly earnings from chip giant Nvidia.
These stocks were poised to make moves Wednesday:
Super Micro Computer soared 25% after the artificial-intelligence server maker filed its delayed 10-K late Tuesday. The company’s newly filed operating statement for fiscal 2024 underwent some changes from its preliminary report issued in August. Revenue for the fiscal year ended June 30, was 0.3% higher than Super Micro’s preliminary reporting, while net income was revised down by 4.6%. “The company is now current with its (Securities and Exchange Commission) financial reporting obligations,” Super Micro said in a statement. “The company has received correspondence from the Nasdaq staff that the company has regained compliance with the filing requirements, and the matter is now closed.”
Nvidia was up 2.5% in premarket trading. The leading maker of chips for artificial-intelligence applications is scheduled to report fourth-quarter earnings after the closing bell Wednesday. Wall Street expects the company to post adjusted earnings in the period of 85 cents a share on revenue of $38.1 billion. Nvidia shares fell 2.8% on Tuesday and have declined 5.7% this year. The last time Nvidia fell between quarter-end and the release of earnings was in the weeks leading up to the chip maker’s report in May 2022, according to Dow Jones Market Data.
Tesla rose 2.2% in premarket trading to $309.17. Shares of the electric-vehicle giant tumbled 8.4% on Tuesday, its fourth-straight down day, after new vehicle registrations in the European Union and the U.K. declined sharply in January. The auto maker’s market value fell below $1 trillion. Coming into Wednesday, the stock has fallen 37% from its record closing high of just under $480 a share on Dec. 17.
Lucid gained 10% after the EV maker’s fourth-quarter loss of 22 cents a share was narrower than expectations and said itexpects to manufacture 20,000 vehicles in 2025versus 9,029 vehicles in 2024. Sales of $234.5 million beat forecasts of $214 million. Lucid also appointed Chief Operating Officer Marc Winterhoff as interim chief executive, replacing CEO Peter Rawlinson, who will serve as a technical advisor to the company’s chairman. Rawlinson has led Lucid since 2019.
Intuit, the maker of tax-preparation software maker, reported fiscal second-quarter revenue that beat Wall Street expectations and forecast fiscal third-quarter revenue of $7.55 billion to $7.6 billion, higher than expectations of $7.52 billion. Intuit sees adjusted earnings in the period of $10.89 to $10.95 a share, below estimates of $11.51 a share. Shares of Intuit, which owns TurboTax and Credit Karma, was up 8.2%.
Workday jumped 13% after the human resources software company reported better-than-expected fourth-quarter earnings and revenue. For fiscal 2026, Workday said it anticipates subscription revenue rising 14% to $8.8 billion and operating margins of 28%.
Axon Enterprise, the Taser maker, was up 16% afterfourth-quarter adjusted earningsof $2.08 a share topped estimates of $1.40, and revenue rose to $575.1 million from $544.3 million and beat Wall Street predictions of $566 million.
IMaplebear, the parent company of Instacart, was down 11% after the grocery delivery service’s first-quarter forecast for adjusted Ebitda—or earnings before interest, taxes, depreciation and amortization—of $220 million to $230 million was below expectations of $237.3 million.
In addition to the earnings report from Nvidia, reports are also expected Wednesday from Salesforce, Lowe’s, TJX Cos., Synopsys, Snowflake, Agilent Technologies, eBay, Pure Storage, and Paramount Global.
Lowe's traded flat ahead of fourth-quarter earnings from the home-improvement retailer. Lowe’s bigger rival Home Depot posted fourth-quarter earnings on Tuesday that topped expectations and sawsame-store salesturn positive for the first time in two years.Home Depot rose 2.8% on Tuesday.
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