Stock futures were lower Thursday as the fears of a more aggressive Federal Reserve continued to weigh on investors and new lockdowns in China hit sentiment.
These are some of the stocks making notable moves in premarket trading Thursday.
Nvidia (NVDA) stock was 4.3% lower after the chip maker said in a filing the U.S. government has informed the company it has imposed a new licensing requirement, covering any exports of Nvidia’s A100 and upcoming H100 products to China, including Hong Kong, and Russia. Fellow chip maker, Advanced Micro Devices (AMD), fell 2.6% Thursday.
Okta (OKTA) sank 16% despite posting strong earnings and lifting its financial forecast for the year, after the company noted that business growth has been affected by unexpected problems with integrating Auth0, which Okta acquired in 2021.
Seagate Technology (STX) was down 2.4% after the data-storage company was downgraded to Hold from Buy at Benchmark, one day after the company reduced its financial forecasts. Western Digital (WDC) was downgraded to Sell from Hold by an analyst at Benchmark. The stock fell 2.2%.
American depositary receipts of Li Auto (LI) were down 2% after the Chinese electric-vehicle maker’s deliveries droppedfrom a year earlier. NIO (NIO) shares were 2.2% lower and XPeng ’s (XPEV) stock was down 2.2% despite their delivery reports looking better.
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