Stock futures traded mixed Thursday following two days of losses for the major U.S. stock market indexes.
These stocks were poised to make moves Thursday:
Intel was rising 3.6% after Bloomberg reported it has approached Apple about securing an investment in the chip maker. after Bloomberg reported it has approached Apple about securing an investment in the chip maker. Bloomberg's report, which cited people familiar with the matter, said the two tech giants also have discussed how to work more closely together. The talks have been at an early stage and may not lead to an agreement, the people told Bloomberg. Intel declined to comment to Barron's about the report, while Apple didn't respond to requests for comment. Apple was down 0.3%.
U.S.-listed shares of Chinese e-commerce giant Alibaba gained 0.3% in the premarket session. The stock closed up 8.2% on Wednesday to $176.44, its highest close since Oct. 22, 2021, according to Dow Jones Market Data. Boosting the stock was an announcement from Alibaba that it would be opening new data centers abroad and hike spending on artificial intelligence.
KB Home slipped 0.4% after fiscal third-quarter profit fell from a year earlier and the home builder reduced its fiscal-year sales guidance. In the quarter, homes delivered fell 7% to 3,393 from a year earlier, while the average selling price fell to $475,700 from $480,900. For the fiscal year, KB Home said it expects sales of $6.1 billion to $6.2 billion, down from a previous forecast of $6.3 billion to $6.5 billion.
Adhesives maker H.B. Fuller, following a 2.8% decline in third-quarter revenue, said it anticipates fiscal-year revenue will fall 2% to 3%. The company also said it anticipates fiscal-year adjusted earnings of $4.10 to $4.25 a share, with the top end of its range down from the $4.30 a share outlook the company issued in June. The stock was down 2.1% in premarket trading.
Opendoor Technologies was rising 7.8% after Jane Street, the quantitative trading firm, disclosed a stake of 5.9% in the online homebuying platform.
Lithium Americas jumped 27%, a day after the Vancouver-based miner soared 96% on Wednesday on news the U.S. government was in negotiations to take a stake in the company. It was the stock's largest one-day percentage increase on record, according to Dow Jones Market Data. The U.S. proposed an equity stake in Lithium Americas as a way to renegotiate a $2.3 billion Energy Department loan granted during the Biden administration.
Freeport-McMoRan rose 2% in premarket trading. The stock tumbled 17% on Wednesday after the company reduced its third-quarter sales estimates for copper and gold by 4% and 6%, respectively, due to a temporary suspension in mining operations and damage to infrastructure at a copper and gold mine in Indonesia.
Shares of uniQure NV were up 10% in premarket trading after rising 247% on Wednesday to $47.50 -- the stock's largest daily percentage increase on record -- following the biotech company's announcement that its experimental gene therapy successfully had slowed the progression of Huntington's disease, an inherited condition that causes a progressive breakdown of nerve cells in the brain.
Hertz Global Holdings, Inc. rose 6% after the car rental company said its a subsidiary plans to sell $250 million of exchangeable senior notes due in 2030 in a private offering.
Worthington Steel reported fiscal first-quarter earnings and revenue that rose from a year earlier. Revenue gained 5% to $872.9 million, lifted by an increase in direct volumes. The stock, however, fell 3.1% in after-hours trading Wednesday after toll volumes -- the amount of steel processed by a third-party company -- decreased 22%.
Earnings reports are expected Thursday from Costco Wholesale, Accenture, TD Synnex, CarMax, Jabil, Concentrix, and BlackBerry.