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JPMorgan, Nvidia, Johnson Controls rise premarket; Li Auto falls

Published 2024-05-20, 07:34 a/m
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Investing.com -- U.S. stock futures traded marginally higher Monday, retaining a degree of optimism at the start of a new week that offers more clues as to the likely future direction of U.S. monetary policy.

Here are some of the biggest premarket U.S. stock movers today:

  • JPMorgan Chase (NYSE:JPM) stock rose 0.7% after the investment bank raised its forecast for net interest income, or the difference between what it makes on loans and pays out on deposits, to $91 billion, excluding markets.

  • Nvidia (NASDAQ:NVDA) stock rose 1.4% ahead of this week’s quarterly earnings amid very high expectations of another round of strong results and a positive outlook as the AI infrastructure investment cycle continues.

  • Johnson Controls (NYSE:JCI) stock rose 6.2% after Bloomberg reported that activist investor Elliott Investment Management had built a stake worth more than $1 billion in the building solutions provider.

  • Paramount Global (NASDAQ:PARA) stock climbed 2% after the New York Times reported that Sony (NYSE:SONY) and Apollo Global Management (NYSE:APO) have signed non-disclosure agreements that will allow them to look at the U.S. media company's books ahead of a potential bid for its assets.

  • Li Auto (NASDAQ:LI) stock fell 4.6% after the Chinese EV manufacturer unveiled a forecast for current-quarter revenue and deliveries that were both below expectations.

  • Tesla (NASDAQ:TSLA) stock rose 0.4% after Reuters reported that the EV manufacturer is taking steps to appease European leasing companies after its repeated retail price cuts devalued their fleets and slow service and expensive repairs alienated corporate customers.

  • Alphabet (NASDAQ:GOOGL) stock rose 0.4% after the tech giant said its Google unit will invest a further €1 billion ($1.1 billion) into the expansion of its data centre campus in Finland to drive its artificial intelligence business growth in Europe.

  • Ryanair (NASDAQ:RYAAY) ADRs fell 0.5% after the budget airline flagged that airfares were not climbing as fast as initially expected heading into the all-important summer travel season.

  • Target (NYSE:TGT) stock fell 0.1% after the retailer announced lower prices on about 5,000 frequently shopped items heading into the holiday weekend.

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