NXP Semiconductors tumbled more than 7% in overnight trading. The company announced a new chief executive officer as part of its quarterly earnings report and warned that the chipmaker was navigating “a very uncertain environment” due to tariffs.

Tesla rose 0.6% in overnight trading after five days winning streak. Shares of the electric-vehicle maker closed above their 50-day moving average on Friday. Tesla reported earnings on Tuesday evening, and despite a disappointing first-quarter print, the stock rose after CEO Elon Musk said he would spend less time in Washington, D.C., and more time at Tesla headquarters. A positive reaction to earnings has brought $300 into play, said ChartSmarter founder and market technician Douglas Busch, who sees a "decent chance" the stock can rise as high as $360.

Wolfspeed stock jumped 4% in overnight trading after surging 26% on Monday. Stocks in the semiconductor industry have seen a heightened level of short interest, according to Raymond James. Analysts with the firm noted that Wolfspeed topped the list of stocks with the largest short-interest ratio, at 41%.

Okta Inc. will replace Berry Global Group Inc. (NYSE: BERY) in the S&P MidCap 400 effective prior to the opening of trading on Thursday, May 1. S&P 500 constituent Amcor plc (NYSE: AMCR) is acquiring Berry Global Group in a deal expected to close soon, pending final closing conditions. Okta shares jumped 5% in overnight trading.