Stocks headed lower on Thursday as investors continue to fret over hawkish tones from the central banks and another China covid lockdown.
Here are 3 tickers trending on Yahoo Finance in premarket trading:
Nvidia (NVDA): Shares of the chip designer Nvidia Corp are lower in pre-market trading after the U.S. ordered the company to stop exporting two top computing chips for artificial intelligence work to clients in China. The chipmaker said the ban, which affects its A100 and H100 chips designed to speed up machine learning tasks, could interfere with the development of its flagship chip, H100, that it announced this year. Nvidia noted it had booked $400 million in sales of the affected chips this quarter to China that could be scrapped if clients won’t purchase alternative products, adding that the company plans to apply for exemptions to the rule.
Disney (DIS): Shares of Disney are roughly flat on Thursday morning after the Wall Street Journal reported that Disney is exploring an “Amazon-like” membership program that could offer discounts or perks to encourage more customers to spend more on its streaming services, theme parks, resorts and merchandise. Reportedly, the plan is internally referred to as”Disney Prime” among company executives and would be designed to encourage potential members to spend more on Disney-linked products across its streaming, parks, and merchandise categories.
Okta (OKTA): Shares of the software company are down in premarket trading after executives revealed the company faced issues with integrating the identity software company Auth0, a $6.5 billion acquisition. Okta previously posted better-than-expected quarterly results and lifted its financial forecasts for the full year, signaling strong demand for its identity software amid the macroeconomic uncertainty.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv