Stock futures were rising Thursday after President Donald Trump said he was set to announce the first trade deal since he imposed tariffs on countries across the world early last month. The Wall Street Journal reported Trump was expected to announce a framework of a trade deal with the U.K.

These stocks were poised to make moves Thursday:

ARM Holdings , the U.K. semiconductor and software design company, reported better-than-expected fiscal fourth-quarter adjusted earnings and revenue but issued a disappointing outlook for the current first quarter. Arm said it anticipated revenue of $1.05 billion at the midpoint of its forecast range, below Wall Street estimates of $1.1 billion. The company also said it expects adjusted earnings of 30 cents to 38 cents a share in the first quarter, below expectations of 42 cents. U.S.-listed shares of Arm declined 10%.

NVIDIA jumped 1.8% in premarket trading and other chip stocks were rallying after the Commerce Department said it doesn't intend to implement artificial-intelligence processor restrictions drawn up under the Biden administration that were set to go into effect on May 15. The Commerce Department plans to replace the rule, which imposed caps on how many chips could go to countries such as India, Switzerland, Mexico, and Israel, a spokeswoman told The Wall Street Journal.

AppLovin Corporation surged 15% in premarket trading after the digital advertising company posted first-quarter earnings of $1.67 a share, beating Wall Street estimates of $1.44, as revenue rose 40% from a year earlier to $1.48 billion and topped expectations. The company also said it reached an agreement to sell its mobile gaming business.

Alphabet was up 2% in premarket trading after shares of the parent company of Google closed Wednesday at $151.38, down 7.26%, the stock's largest percentage daily decrease since earlier February when it tumbled 7.3%. A Bloomberg report said Eddy Cue, Apple's senior vice president of services, expected artificial-intelligence search providers would one day take market share away from traditional search engines like Google.

Fortinet declined 8.9% after the cybersecurity company reported first-quarter earnings and revenue that beat Wall Street estimates but issued a revenue forecast for the second quarter that came up slightly short of expectations.

First-quarter earnings and revenue at used-car dealer Carvana rose from a year earlier and the stock gained 4.3%. Revenue rose 38% to $4.23 billion and beat expectations of $4 billion. Carvana sold 133,898 retail units in the quarter, up 46%, and expects a sequential increase in retail units sold.

IONQ Inc. , the quantum computing hardware and software company, reported a first-quarter loss that narrowed from a year earlier as revenue of $7.6 million was flat with the previous year but beat expectations of $7.5 million. Shares rose 5.4%.

Zillow was down 4.1% as the real estate marketplace company, best known for its home listings portal, reported its first quarterly net profit since 2022 and topped analysts' expectations but issued softer-than-expected second-quarter guidance.

Cleveland-Cliffs was falling 7.7% after the steelmaker posted a wider-than-expected first-quarter loss and lower revenue, and said it was fully or partially idling six facilities to "optimize its footprint, reposition away from loss-making operations, and release excess working capital."

Earnings reports are expected Thursday from Shopify, Coinbase Global, ConocoPhillips, Monster Beverage, Cloudflare, Trade Desk, Microchip Technology, Rocket Cos., Expedia, $Warner Bros. Discovery(WBD)$, Pinterest, DraftKings, Affirm Holdings, D-Wave Quantum, Peloton Interactive, Paramount Global, and Lyft.

Shopify rose 3.2% ahead of the release of e-commerce company's first-quarter earnings scheduled for before the stock market opens Thursday. Coinbase shares were up 4.8%. The crypto asset manager and brokerage company is scheduled to post quarterly earnings after the closing bell.