Check out the companies making headlines before the bell. China stocks – U.S.-listed shares of Chinese companies fell after China’s state planner Zheng Shanjie failed to announce any new economic stimulus plans . Online video company Bilibili tumbled more than 13%, while automaker Nio and Temu parent PDD each fell more than 9%. E-commerce companies JD.com and Alibaba also fell nearly 9% and 7%, respectively. Wynn Resorts , Las Vegas Sands – Shares of the casino operators, which both have resorts in Macau, China, fell more than 4% and 3%, respectively, after China skipped new stimulus measures . DocuSign – Shares in the electronic signatures company climbed more than 5% on news it will replace MDU Resources in the S & P 500 MidCap 400 index effective Friday. Super Micro Computer – The stock rose 4%, extending Monday’s gains, when the computer server maker jumped nearly 16% after saying it recently deployed more than 100,000 graphics processing units with its liquid cooling solution for “some of the largest AI factories ever built” as well as other cloud service providers. Nvidia – The dominant maker of chips powering artificial intelligence applications moved up nearly 2% following Foxconn chairman Young Liu’s comments that the boom in artificial intelligence “still has some time to go.” Liu said that demand for Foxconn servers based on Nvidia’s upcoming Blackwell chip – which are on track to ship this quarter – is “much better than we thought.” Wells Fargo – The bank rose more than 1% after Wolfe Research upgraded the lender to outperform from peer perform. The firm said the bad news surrounding Wells is “fully baked in” to the stock price. Humana – Shares rose nearly 1% after Bernstein upgraded the health insurer to outperform from market perform. The investment firm believes Humana is “now an attractive investment” following recent losses . Microsoft – Shares moved fractionally lower after Oppenheimer downgraded the Xbox owner to perform from outperform. The investment bank said it was concerned about estimated losses at OpenAI of as much as $3 billion in fiscal 2025 on slow AI adoption by business. PepsiCo – The Gatorade and Frito-Lay parent edged down less than 1% after third-quarter revenue came in lighter than expected. PepsiCo reported $2.31 in adjusted earnings per share on $23.3 billion of revenue. Analysts surveyed by LSEG had projected $2.29 per share on $23.8 billion of revenue. The company also lowered its outlook for organic revenue. — CNBC’s Jesse Pound, Brian Evans and Michelle Fox Theobald contributed reporting.
https://www.cnbc.com/2024/10/08/stocks-making-the-biggest-moves-premarket-bili-docu-nvda-and-more.html
