Dow Futures fell 0.11%, S&P 500 Futures fell 0.07%, Nasdaq Futures fell 0.08%, as sentiment skewed cautious amid lingering pressure on semiconductors.

Penguin Solutions shares rose 4.4%% in overnight trading after the semiconductor company posted fiscal third-quarter results and guidance that topped estimates.

SpaceX rose 1.02%. The gain followed a wave of mostly positive analyst initiations from major banks.

Navitas Semiconductor Corp (NVTS) tumbled 6.86%. Wolfspeed filed a Delaware lawsuit alleging its GaN and SiC devices infringe multiple patents.

Applied Materials (AMAT) slipped 1.52%. The stock fell 6.5% on Tuesday amid a broad chip selloff.

Micron Technology (MU) declined 1.34%. Shares dropped 4.7% Tuesday as investors reassessed AI-driven memory demand.

SanDisk Corp. fell 1.16%. Samsung’s second-quarter revenue missed lofty expectations, fueling sector selling and hedge fund outflows into storage names.

SUPER MICRO COMPUTER INC (SMCI) retreated 1.10%. The shares underperformed Tuesday, marking a fourth straight decline in a weak tech tape.

Astera Labs, Inc. (ALAB) dropped 1.10%. The stock featured among Tuesday’s notable decliners during the chip-sector selloff.

Chip stocks fell, with Direxion Daily Semiconductors Bull 3x Shares (SOXL) falling 1.16%.

FuelCell shares fell 16.4% in overnight trading after the company announced the launch of a $200 million underwritten public offering of common stock.