Investing.com – U.S. stock futures traded higher on Thursday as strong quarterly corporate earnings overshadowed concerns that interest rates will remain elevated longer than expected.
Here are some of the biggest players in the US stock market today:
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Nvidia (NASDAQ:) shares soared more than 10% after the chipmaker’s first-quarter earnings beat forecasts and also provided stronger-than-expected revenue guidance for the current quarter as the company continues to benefit from strong demand in a growing industry artificial intelligence. .
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Advanced microdevices (NASDAQ:) and Broadcom (NASDAQ:) rose more than 2%, with rivals Nvidia benefiting from continued demand for AI and the memory chip maker Micron Technology NASDAQ shares: up 3.8%, and chip designer Hand Holdings (ARM) rose almost 4%. Some chip makers, including AMD, have struggled to maintain their gains.
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Corporation News (NASDAQ:) shares rose 2% after the news giant signed a content sharing agreement with OpenAI, giving the latter access to content from several major publications.
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Living Nation Entertainment (NYSE:) shares fell 6% after a report that the Justice Department plans to file a lawsuit against the firm over the alleged monopolistic practices of its Ticketmaster unit, and that lawmakers are also pushing to split Ticketmaster from the firm.
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Snowflake Shares (NYSE:) fell 3% even though the cloud data analytics company forecast second-quarter product revenue above estimates and raised its full-year expectations.
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DuPont Shares of (NYSE:) rose 5.4% before the open after the US conglomerate announced plans to split into three publicly traded companies. By midday, the stock had given back most of its gains. This step was considered logical, but not surprising.
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Taiwan semiconductor manufacturing TSM shares rose 2% after the Taiwanese contract chipmaker forecast annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.
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Medtronic (NYFB:) (MDT) fell 3% even though the medical device maker’s quarterly profit topped forecasts, helped by a post-pandemic surge in hospital surgical volumes that boosted demand for its medical equipment. Concerns over the margin outlook weighed on shares.
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Boeing (NYSE:) shares fell 6% after management said it had not made any recent aircraft deliveries to China due to a request from the country’s aviation regulator for additional certification documents. The plane maker also warned of worsening cash flow.
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elf Beauty, Inc. (NYSE:) rose 20% despite full-year guidance coming in well below expectations. Analysts said the quarterly results were good and the forecast was “conservative.”
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GlobalFoundries (NASDAQ:) fell 7% after announcing that Mubadala Technology Investments was offering $950 million worth of shares in the company. The company plans to buy back some shares.
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Dell Technologies (NYSE:) rose 6% after it was added to research firm Evercore ISI’s list of top stocks.
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Cytokinetics (NASDAQ:) fell 16% after the company announced plans to offer approximately $500 million of its common stock in an underwritten public offering. The Company has also entered into a strategic financing agreement with Royalty Pharma plc (Nasdaq: RPRX). Some investors had expected a takeover of the company, but that now looks less likely in the near future.
Additional reporting by Louis Juricic