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HomeStocks in FocusPremarket Winners and Losers: Nvidia, Meta Platforms, Coinbase Slip; Spire Global Shows...

Premarket Winners and Losers: Nvidia, Meta Platforms, Coinbase Slip; Spire Global Shows Gains.

Premarket Winners and Losers

U.S. futures fell Tuesday amid caution before a keenly anticipated Federal Reserve policy meeting.

Top Gainers


AstraZeneca (NASDAQ:AZN) said it will purchase Fusion Pharmaceuticals (NASDAQ:FUSN) for $2 billion in cash, sending its shares up 99%.
Spire Global (NYSE:SR) stock jumped 17% after announcing an AI-driven weather prediction partnership with Nvidia.
Despite a bleak prognosis, Xpeng (NYSE:XPEV) shares increased 3.2% after reporting better-than-expected quarterly results.
Unilever (NYSE:UL) ADRs climbed 2.7% after the consumer products firm announced it will spin off its ice cream unit, home to Magnum and Ben & Jerry’s, and shed 7,500 jobs in a cost-cutting effort.
IFF shares increased 0.5% after the specialty chemicals firm announced a $2.85 billion sale of its pharma solutions division to French plant-based ingredients producer Roquette to focus on higher-margin industries.

Pfizer (NYSE:PFE) stock increased 0.1% after selling a $3.9 billion stake in Haleon, reaching 22.6%.

Top losers

Due to the steep drop in Bitcoin, the most popular digital currency, Coinbase (NASDAQ:COIN) shares slumped 5.2%.

Nvidia (NASDAQ:NVDA) shares dipped 1.8% after unveiling its new AI processors at its annual developer conference, reversing some of its remarkable gains this year.

Meta Platforms (NASDAQ:META) stock declined 0.8% after the internet giant pledged to lower Facebook and Instagram membership fees during regulator negotiations.

Stocks in focus

Nvidia (NVDA) was among the most frequently traded stocks before the bell, falling about 2%. Over the weekend, the chip giant launched its annual GTC conference with a flurry of announcements from CEO Jensen Huang’s keynote presentation, including the Blackwell GPU platform. Named for mathematician David Blackwell, the new platform has two GPUs, the B100 and B200, double the size of Nvidia’s H100 processors. Some experts said investors had already considered the Blackwell chip’s debut appearance and were waiting for additional details. Nvidia (NVDA) stock’s remarkable surge and high GTC conference expectations are particularly noteworthy.


U.S.-listed Tencent Music Entertainment (TME) shares rose 2% in pre-market trading after the Chinese tech giant’s music streaming services company reported a strong increase in quarterly music paying users despite a revenue drop. Tencent Music (TME) earned 14 cents per share adjusted for Q4 2023 on $971M in sales. Social media revenue fell 7.2% Y/Y, offsetting a rise in online music sales. TME’s quarterly music paying consumers climbed 20.6% Y/Y to 106.7M, and online music ARPU rose to RMB 10.7 from RMB 8.9 a year earlier.


Unilever (UL) stock rose over 3% before market open as investors welcomed the consumer goods giant’s restructuring plan to spin off its ice cream division and reduce 7.5K jobs worldwide. The firm said its board chose to separate the ice cream segment because its operating strategy was substantially different and would best suit future growth. The ice cream company, which includes Magnum and Ben & Jerry’s, earned €7.9B in 2023. Unilever (UL) also announced a “productivity program” that would entail job cutbacks and save €800M over three years.

After announcing a possible public stock offering of up to 2M shares, Super Micro Computer (SMCI) shares fell 10% in pre-market trading. New offering comes roughly a month after company’s $1.5B convertible senior notes deal. Super Micro (SMCI) joined the S&P 500 (SP500) index on Tuesday. Super Micro (SMCI) has risen 221.1% since its last quarterly results in January, mostly owing to rising demand for AI servers and revenue potential.

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3M (MMM) rose over 7% pre-market. The industrial conglomerate’s appointment of former L3Harris Technologies (LHX) CEO William Brown as its new CEO, starting May 1, appeared to please investors. Brown will succeed Michael Roman as 3M’s (MMM) executive chairman. Brown was Harris Corp’s CEO before its 2019 merger with L3 Technologies. After becoming CEO of the merged firm, he was executive chair from June 2019 until June 2022. Roman was 3M’s (MMM) CEO since July 2018.

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