Here’s a look at some of the companies that are catching our eye in premarket trading: Nvidia — The chipmaker rose 7.4% after strong first-quarter results, better-than-expected guidance and a 10-for-1 stock split. Super Micro Computer and Advanced Micro Devices jumped 5% and more than 3%, respectively. Taiwan Semiconductor — The chipmaker rose 2.4% after it predicted 10% annual revenue growth for the global semiconductor industry. Live Nation — Shares of the concert industry giant fell 6% in premarket after Bloomberg reported that the Department of Justice and several states are expected to sue the company in the Southern District of New York on Thursday for antitrust violations related to Ticketmaster’s monopoly on concert ticket sales. Snowflake — The cloud computing company rose 3.8% after beating Wall Street’s first-quarter revenue estimates. Snowflake posted revenue of $829 million, versus $786 million expected by analysts surveyed by LSEG.Adjusted earnings for the quarter were 14 cents per share, missing the consensus estimate by 4 cents. News Corp. — Shares soared more than 5% after the media company announced late Wednesday that it had entered into a “multi-year global partnership” with OpenAI. As part of the deal, OpenAI will be able to display content from News Corp media within its ChatGPT chatbot. VF Corp. — The parent company of The North Face and Vans fell 13.6% after reporting an unexpected loss per share and weak earnings in the fourth quarter. VF Corp. lost 32 cents per share on revenue of $2.37 billion, while analysts surveyed by LSEG had expected a profit of 1 cent per share and revenue of $2.41 billion. NetEase — U.S. shares of the Chinese game maker fell 3.4% after first-quarter earnings fell short of expectations. NetEase also paid a smaller quarterly dividend than in the previous quarter. ELF Beauty — The cosmetics maker rose 3.4% after significantly beating fourth-quarter consensus estimates from analysts surveyed by FactSet. Specifically, ELF reported earnings per share, excluding items, of 53 cents on sales of $321.1 million, compared with analysts’ expectations of 33 cents on sales of $292.6 million. However, full-year guidance fell short of expectations. LiveLamp Holding — The advertising technology company rose 14.5% on better-than-expected fourth-quarter earnings. Additionally, LiveLamp provided solid sales guidance for both the current quarter and full year. Cytokinetics — The biopharmaceutical company fell 14.7% following a $500 million common stock offering. JPMorgan, Goldman Sachs and Morgan Stanley were the sole co-lead managers on the offering. DuPont de Nemours — Shares rose 5.3% after the company announced it would split into three separate businesses. One of the companies in the industrial solutions business will become the new DuPont.The remaining two will focus on electronics and water purification. Additionally, the company said CEO Ed Brett will step down to become chairman of the board on June 1, and CFO Lori Koch will take over. Alibaba — Shares fell 1.5% after Bloomberg reported that Chinese tech giant Alibaba is considering a convertible bond offering to raise $5 billion. Bloomberg cited unnamed sources as saying the bond offering could happen as early as this week. Take-Two Interactive Software — The video game stock rose 2.3% after Bank of America upgraded it to buy from neutral. The investment firm said in a client note that Take-Two’s games pipeline for this year remains strong, even with Grand Theft Auto scheduled for fall 2025. GoodRX — The medical-focused digital healthcare platform rose 5.8% after RBC upgraded it to outperform from sector average. RBC said the stock has noteworthy growth opportunities.Hasbro — Shares rose 3% after JPMorgan upgraded Hasbro’s rating to overweight from neutral, saying investors are underestimating the toy maker’s cost efficiencies and digital gaming forecasts. The Wall Street firm said it expects both to increase. — CNBC’s Jesse Pound, Pia Xin, Yun Li, Tanaya Maciel, Sarah Ming and Michelle Fox contributed reporting.
Biggest pre-open movers: NVDA, LYV, SNOW
