U.S. Stocks to Watch: Super Micro, AMD, Novo Nordisk, Sarepta, EA, Rivian, Tesla, and More

Dow Jones
07 May

Stock futures were rising Wednesday as the U.S. and China planned trade negotiations and as Wall Street awaited the Federal Reserve's policy decision on interest rates later in the session. Economists widely expect the U.S. central bank to hold steady on rates.

These stocks were poised to make moves Wednesday:

Advanced Micro Devices reported first-quarter adjusted earnings of 96 cents a share, better than analysts' estimates of 94 cents, on revenue of $7.4 billion, topping expectations for $7.1 billion. Data-center revenue rose 57% from a year earlier. The chip maker said it expects second-quarter revenue at $7.4 billion, plus or minus $300 million, versus Wall Street forecasts of $7.2 billion. "Despite the dynamic macro and regulatory environment, our first-quarter results and second-quarter outlook highlight the strength of our differentiated product portfolio and consistent execution positioning us well for strong growth in 2025," said AMD CEO Lisa Su. The stock rose 1.9%.

Super Micro Computer was down 4.8% after the artificial-intelligence server maker issued fiscal fourth-quarter guidance that was shy of analysts' estimates. Super Micro said it expects fourth-quarter adjusted profit of 40 cents to 50 cents a share on revenue of $5.6 billion to $6.4 billion, while analysts had been calling for earnings 66 cents on revenue of $6.65 billion. Super Micro reported fiscal third-quarter revenue of $4.6 billion, shy of consensus of $5.05 billion. "Some customers delayed making platform decisions in the quarter," said CEO Charles Liang, adding he expects commitments in the quarters ending in June and September, but "economic uncertainty and tariff impacts may have a short-term impact."

U.S.-listed shares of Novo Nordisk rose 7.9% after the Danish pharmaceutical company posted better-than-expected first-quarter earnings but reduced its guidance for the year, saying it cut its outlook "due to lower-than-planned branded GLP-1 penetration, which is impacted by the rapid expansion of compounding in the U.S.."

First-quarter earnings and revenue at Arista Networks topped Wall Street estimates but shares fell 5.4% after the networking equipment company said adjusted gross margin and operating margin may decline in the second quarter.

Rivian Automotive, the electric-vehicle maker, reported a first-quarter gross profit of $206 million on sales of $1.2 billion, topping analysts' expectations, but expects vehicle deliveries for the year between 40,000 and 46,000, down from a prior range between 46,000 and 51,000. Rivian said it wasn't "immune to the impacts of the global trade and economic environment," namely trade policies and tariffs. Rivian shares rose 0.6%.

Fellow EV maker Lucid Group was up 0.9% after posting a narrower-than-expected adjusted loss in the first quarter but revenue of $235 million that was shy of estimates of $247.6 million. The company delivered 3,109 vehicles in the quarter, up 58% from a year earlier. Lucid maintained that it would make about 20,000 vehicles this year.

The largest U.S. maker of electric vehicles, Tesla, rose 1.3% in premarket trading following results from Rivian and Lucid.

Electronic Arts reported fiscal fourth-quarter earnings that rose from a year earlier as revenue jumped 6.5% to $1.9 billion. The videogame developer said it expects fiscal 2026 revenue of $7.1 billion to $7.5 billion, with the release of a new title in its Battlefield franchise helping to boost sales. EA rose 5.4%.

Sarepta Therapeutics cut its full-year outlook, sending the stock down 20% in premarket trading. The company expects total net product revenue of $2.3 billion to $2.6 billion for the year, down from a prior forecast of $2.9 billion to $3.1 billion. Sarepta said the broader biotech market has been facing significant pressures.

Tempus AI posted a narrower-than-expected first-quarter adjusted loss as revenue of $255.7 million topped consensus of $248.1 million. Shares of the technology company were up 1%.

Palantir Technologies rose 0.3% in premarket trading after shares of the data analytics company closed Tuesday down 12% to $108.86 following a solid first-quarter earnings report. "Some investors may be disappointed with the modest full-year revenue guidance raise ... and the international commercial revenue year-over-year decline," wrote William Blair analyst Louie DiPalma in a research note. DiPalma has a Market Perform rating on the stock, which had its largest daily percentage decrease since May 7, 2024, when it fell more than 15%, according to Dow Jones Market Data.

Wynn Resorts' first-quarter adjusted earnings of $1.07 a share missed analysts' forecasts of $1.24 as casino revenue fell to $1.04 billion from $1.12 billion. The stock was down 1.7%.

Earnings reports are expected Wednesday from Walt Disney, Uber Technologies, AppLovin, DoorDash, Carvana, Occidental Petroleum, Emerson Electric, Johnson Controls, and Fortinet.

Disney was up 1.6% ahead of the release of the entertainment giant's fiscal second-quarter earnings report.

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