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TSMC and Netflix rise premarket; Domino's Pizza, Beyond Meat fall

Published 2024-07-18, 07:36 a/m
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Investing.com -- U.S. stock futures mostly rose Thursday, with the tech stocks rebounding after the previous season’s rout.

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

  • Taiwan Semiconductor Manufacturing (NYSE:TSM) stock rose 1.1% after the world’s largest contract chipmaker posted a hefty 36% rise in second-quarter net profit earlier Thursday, riding the surge in demand for semiconductors used in artificial intelligence applications.

  • Netflix (NASDAQ:NFLX) stock rose 0.3% ahead of the streaming giant’s quarterly results after the close. It has already guided for lower net subscriber additions in the second quarter than in the first three months of the year.

  • DR Horton (NYSE:DHI) stock fell 2.1% after the homebuilder trimmed its full-year revenue outlook, even after it beat estimates for quarterly profit, and also approved a new share buyback authorization totaling $4 billion.

  • Domino’s Pizza (NYSE:DPZ) stock slumped 12% after the pizza chain missed estimates for quarterly same-store sales, as inflation worries discouraged U.S. consumers.

  • Beyond Meat (NASDAQ:BYND) stock dropped 13% following a report the plant-based meat producer has engaged with bondholders to begin discussions about restructuring its balance sheet.

  • Novartis (SIX:NOVN) ADRs fell 2.1% despite the Swiss pharma giant raising its profit guidance, as the Swiss drugmaker reported second-quarter profit and sales ahead of expectations.

  • Infosys (NS:INFY) ADRs rose 3.8% after the Indian outsourcing giant reported growing profits and forecast a slight pickup in sales growth for the year.

  • Blackstone (NYSE:BX) stock fell 0.8% after the investment firm posted only a modest rise in its second-quarter distributable earnings, with a jump in asset sales in its private equity and credit divisions offsetting a slump in its real estate arm.

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