U.S. Stocks to Watch: Nvidia, Venture Global, Applied Digital, Levi Strauss, Elastic, and More

Dow Jones
10/10

Stock futures rose modestly Friday at the end of a week in which stocks have struggled for direction because of uncertainty about the ongoing U.S. government shutdown.

These stocks were poised to make moves Friday:

Nvidia rose 0.6% to $193.67 after shares of the leading maker of chips for artificial-intelligence applications gained 1.8% on Thursday to close at $192.57, an all-time high. Cantor Fitzgerald analysts on Thursday raised their price target on Nvidia to $300 from $240 and maintained an Overweight rating on the stock, saying the buildout for AI has only started. The firm's $300 price target translates to a $7 trillion market cap for Nvidia, which closed Thursday with a market cap of $4.678 trillion. Coming into Friday, Nvidia shares have risen more than 43% this year.

Fiscal third-quarter adjusted earnings and revenue at Levi Strauss topped analysts' estimates and the jeans maker raised its fiscal-year outlook. Levi Strauss expects fiscal-year revenue to rise 3%, higher than previous guidance that called for an increase of 1% to 2%. The company also boosted its adjusted earnings forecast to $1.27 to $1.32 a share from $1.25 to $1.30. Shares of Levi Strauss, however, fell 7.7%.

Venture Global tumbled 17%. The U.S. natural-gas exporter lost an arbitration case against customer BP. Venture Global said the International Court of Arbitration had issued a partial final award to BP. The British energy company is seeking damages of more than $1 billion, as well as interest, costs and attorneys' fees, according to Venture Global.

Vertiv Holdings, the maker of AI infrastructure products that cool and power data centers, rose 3.7% in premarket trading. Shares closed 0.9% higher in the previous session, bringing gains this year to 49%. The move came after Citi analysts on Thursday put a bullish 90-day catalyst watch on Vertiv, citing "increased conviction on robust data center infrastructure demand."

Applied Digital reported a fiscal first-quarter adjusted loss of 3 cents a share, narrower than analysts' estimates that called for a loss of 13 cents. Revenue of $64.2 million beat forecasts of $46.1 million. The company also finalized a new lease agreement with CoreWeave. Shares of Applied Digital, the operator of artificial-intelligence data centers, soared 25%.

Data-analytics company Elastic soared 11% after hiking its revenue guidance and announcing a $500 million stock buyback. Elastic expects fiscal 2026 revenue of between $1.697 billion and $1.703 billion, up from a previous call of between $1.679 billion and $1.689 billion.

Amcor rose 4.7% after the packaging solutions company named Stephen Scherger as chief financial officer, following Michael Casamento's decision to return to Australia. The company also reaffirmed fiscal 2026 guidance for adjusted earnings of between 80 cents and 83 cents a share, representing 12-17% constant currency growth.

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