Today’s Stocks to Watch: Tesla, Nvidia, and Strategy
Key Points To Watch Out For:
- Tesla and Nvidia shares rose in premarket trading following falls in the preceding session.
- Gilead and GSK fell on the potential for cuts in HIV funding in the US
- Strategy rose after previous losses due to the issuing of securities to buy bitcoin
Tesla (TSLA): Rebound After 5% Fall on Tuesday
Tesla shares rose in premarket trading after losing more than 5% on Tuesday, continuing their poor performance since December.
Nvidia (NVDA): Jensen Huang Highlights Increased Demand for AI
Nvidia rose in premarket trading after Jensen Huang, its CEO, told the GTC conference that advances in AI will require 100 times more computing power than was predicted a year ago.
Gilead Sciences (GILD) and GSK (GSK): Pressure Over Possible HIV Cutbacks
Gilead and GSK shares fell in premarket trading after reports indicated that the U.S. Department of Health could drastically cut funding for HIV prevention, which would affect treatment manufacturers such as ViiV Healthcare, in which GSK is the majority shareholder.
Strategy (MSTR): Recovery After Sale of Bitcoin Securities
MicroStrategy shares rose in the premarket after falling on Tuesday following the announcement of a new securities issue to finance further purchases of bitcoin.
Autodesk (ADSK): Starboard Value Launches Offensive Against the Company
The activist fund Starboard Value is preparing to fight for representation on the Autodesk board of directors after building up a stake of more than $500 million in the company.
Tencent (TCEHY): Profit Doubles in the Last Quarter
Tencent shares rose after the company nearly doubled its quarterly net profit, showing strong performance in video games and social networks.
Today’s Earnings Highlights
Today, the financial reports of the companies listed below are expected:
- General Mills (GIS), before the market opens.
Investors remain focused on the performance of the consumer and food sectors.