Stock futures fell Thursday after the Federal Reserve indicated it could begin tapering stimulus this year even as surging coronavirus infections caused by the delta variant have raised worries about the pace of the U.S. recovery.
Here are some of the top movers during premarket trading Thursday.
1. Robinhood HOOD | Down 9.8%
The company posted a loss of $502 million, or $2.16 a share, in its first earnings report as a public company.
Robinhood’s revenue more than doubled to $565 million thanks to a torrent of customers trading cryptocurrency.
2. Nvidia NVDA | Up 1.5%
Shares of Nvidia (NVDA) – Get Report rose after the graphics-chip maker benefited from continued hot demand for devices from computer videogamers and cryptocurrency miners, pushing its sales and profit to records.
Nvidia also issued an upbeat forecast for the fiscal third quarter even as the market for chip supplies remains tight.
3. Alibaba BABA | Down 3.4%
U.S.-listed shares of Alibaba (BABA) – Get Report fell. A new round of proposed regulations released Tuesday by China’s top market regulator aim to prevent internet companies from adopting forced exclusivity and blocking competitors’ links and apps.
4. Kohl’s KSS | Up 2.7%
Shares of Kohl’s (KSS) – Get Report rose after the department-store chain blasted Street forecasts for its second-quarter earnings while boosting its full-year profit guidance. Shoppers flocked to traditional retailers as the coronavirus pandemic eased.
5. Macy’s M | Up 5.1%
Shares of Macy’s (M) – Get Report jumped after the retailer posted much stronger-than-expected second-quarter earnings and raised its full-year profit outlook. Macy’s also reinstated its dividend and authorized a $500 million share buyback.