Investing.com -- U.S. stock futures fell sharply Wednesday, with the tech stocks in sharp retreat as the quarterly earnings season continues.
Here are some of the biggest premarket U.S. stock movers today:
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Taiwan Semiconductor Manufacturing (NYSE:TSM) stock fell 5% after Donald Trump, the Republican candidate for the U.S. presidency, said Taiwan should pay the U.S. for supplying defense equipment, putting the spotlight on the island’s biggest company.
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Nvidia (NASDAQ:NVDA) stock fell 4% and ASML (AS:ASML) ADRs dropped almost 8% following a Bloomberg report that said the Biden administration is considering clamping down on companies exporting their critical chipmaking equipment to China.
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Amazon (NASDAQ:AMZN) stock fell 1.1%, weighed by the overall negative tone even though the online retail giant’s annual Prime Day two-day shopping event, which concludes later, could see its sales rise 10.5% from last year, according to forecasts from Adobe (NASDAQ:ADBE).
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Five Below (NASDAQ:FIVE) stock slumped 15% after the discount retailer said that its CEO Joel Anderson had stepped down and preannounced second-quarter guidance that fell short of estimates.
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Johnson & Johnson (NYSE:JNJ) stock fell 0.3% despite the healthcare giant reporting a robust second quarter, with both earnings and revenue surpassing Wall Street estimates, driven by strong sales of its drugs.
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Spirit Airlines (NYSE:SAVE) stock dropped 6.3% after the carrier lowered its second-quarter revenue outlook, citing lower-than-expected non-ticket revenue.
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JB Hunt (NASDAQ:JBHT) stock fell 2.9% after the transportation company reported a 24% drop in second-quarter profit as well as a 7% decrease in total operating revenue.
- Eli Lilly (NYSE:LLY) and Novo Nordisk (CSE:NOVOb) (NYSE:NVO) both dropped 3.7% after Swiss rival Roche (SIX:RO) revealed promising early-stage trial data from its latest obesity drug candidate.
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Synchrony Financial (NYSE:SYF) stock fell 0.2% despite the financial services company posting a nearly 12% rise in second quarter net profit, driven by higher income from loans that offset an increase in the consumer banking firm's loan loss reserves.