In premarket trading on December 9, 2024, several stocks demonstrated significant movements, particularly within the technology and retail sectors. Nvidia (NVDA) saw a downturn of 1.5%, reflecting investor concerns over its latest Q3 earnings report, which underwhelmed expectations with a revenue decline of 10% year-over-year, coming in at $5.42 billion. Conversely, Macy’s (M) reported an increase of 3.2% in premarket trading after surpassing revenue expectations in its latest earnings report, with a total revenue of $5.55 billion, representing a growth of 4% compared to the previous year. Tesla (TSLA) rose 2.1% following positive remarks from CEO Elon Musk regarding upcoming product releases, claiming they will ‘revolutionize the industry.’ Workday (WDAY) climbed 4% after announcing a strategic partnership with Microsoft aimed at integrating their services into a unified platform. Meanwhile, Palantir Technologies (PLTR) dropped by 2.9% as analysts projected slower growth rates in government contracts. In the technology sector, IPG Photonics (IPG) fell 3.5%, attributed to adverse market conditions affecting laser technologies. Meta Platforms Inc. (META) and Advanced Micro Devices (AMD) also joined the downward trend, with declines of 2.1% and 1.7%, respectively, amid broader concerns regarding tech sector performance. The overall market sentiment appears mixed, with investors weighing the impact of economic factors and industry developments on stock performance.
Premarket Stock Summary: Major Moves in Tech and Retail Sectors
