Stock futures declined Thursday after President Donald Trump said he intends to set unilateral tariffs on trading partners within the next one or two weeks, stoking trade tensions after a spell of relative calm.
These stocks were poised to make moves Thursday:
Boeing stock sank 8% in premarket trading. An Air India Ltd. Boeing Co. 787 aircraft traveling from Ahmedabad in India to London’s Gatwick airport crashed shortly after taking off, in what stands to be the most serious accident involving the US planemaker’s most advanced widebody airliner. India confirmed 246 people on board killed in accicdent.
Oracle reported fiscal fourth-quarter adjusted earnings of $1.70 a share, better than analysts' estimates of $1.64, on revenue of $15.9 billion that rose 11% from a year earlier and topped consensus of $15.59 billion. Revenue at Oracle's cloud infrastructure business rose 52% to $3 billion in the quarter and CEO Safra Catz said Oracle anticipates its cloud infrastructure growth rate to jump to more than 70% in fiscal 2026. The stock rose 7.5% in premarket trading.
Oxford Industries was falling 13% after the owner of the Tommy Bahama and Lilly Pulitzer brands reduced its fiscal-year outlook, saying the guidance includes $40 million in additional tariff costs. Oxford said it expects fiscal-year adjusted earnings of $2.80 to $3.20 a share, down from a previous projection of $4.60 to $5. Analysts had been calling for adjusted profit of $4.35 a share.
Shares of Palantir Technologies, the artificial-intelligence data analytics company, were down 0.6% in the premarket session after rising 2.7% on Wednesday and closing at a record high of $136.35. The stock has risen for four straight sessions and has gained 80% this year. Palantir's surge has been fueled by a committed base of retail investors, last month's strong first-quarter earnings report, and its significant relationship with the U.S. Department of Defense.
Oklo declined 5.9% as the nuclear start-up announced a $400 million offering of common stock that would be used for general corporate purposes and potential future investments. The stock ended Wednesday up 29% after Oklo was conditionally selected to provide power to an Air Force base in Alaska after a nearly two-year delay.
GameStop fell 12% after the videogame retailer said it plans to offer $1.75 billion worth of convertible notes. The company intends to use proceeds from the offering for "general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." GameStop updated that policy in March to say that it will hold Bitcoin as a so-called treasury reserve asset.
Voyager Technologies rose 6.8% in premarket trading to $60.30, a day after the defense and space tech company made its trading debut. The stock opened Wednesday at $69.95, 126% higher than its initial offering price of $31, and ended the session up 82% at $56.48.
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