AMD, Intel, Amazon, Generac, Lennar, and More Stocks That Explain Today’s Market
Traders working on the floor of the New York Stock Exchange. (TIMOTHY A. CLARY/AFP via Getty Images)
Key Points
- U.S. stock futures rose on Thursday as investors moved past worries regarding the Federal Reserve’s interest-rate hike.
- Generac surged in premarket trading after disclosing a $2.4 billion deal to supply Amazon with generators for its data centers.
- Lennar shares fell after the home builder missed third-quarter earnings estimates due to high housing costs.
Stock futures were rising on Thursday as investors got over the worst of their worries about the Federal Reserve’s interest-rate hike.
Chip and memory stocks were trading higher ahead of the opening bell, despite fresh concerns about a slowdown in the development of artificial intelligence. Advanced Micro Devices , Coherent, Corning, Lumentum, Intel, Marvell, and Sandisk all rose.
Generac was the S&P 500’s best performer in the premarket, surging 34% after the backup-power company disclosed a $2.4 billion deal to supply Amazon with generators for its data centers. Shares of Amazon climbed 1.4%.
Lennar slid 2.6% after the builder missed analysts’ third-quarter earnings estimates, which it blamed on high housing costs and other factors that have made it a tough environment to buy homes.
Fluence Energy slumped 21% after the energy storage company cut its full-year revenue guidance, citing delays in ramping up a contract manufacturing facility in Houston.
Write to George Glover at george.glover@dowjones.com
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