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Premarket movers
Mag 7 stocks all rise (Alphabet +1.3%, Amazon +1.3%, Apple +0.8%, Nvidia +1.5%, Meta +0.9%, Microsoft +1%, Tesla +1.8%),
Arm Holdings (ARM) rises 12% after the semiconductor designer said it will start selling its own chips for the first time. The new business is expected to generate about $15 billion annually within five years.
Blaize Holdings (BZAI) soars 42% after the semiconductor device company reported its fourth-quarter results and gave an outlook that analysts are positive on.
Braze (BRZE) gains 21% after the software company forecast revenue for the first quarter that was higher than the average analyst estimate. The company also reported better-than-expected revenue for the fourth quarter.
Chewy (CHWY) gains 6% after online retailer of pet food posted fourth-quarter results.
General Motors Co. (GM) climbs 2% after Wolfe raised its rating to outperform, saying investors may be underestimating several tailwinds, including a lower net tariff burden.
EchoStar (SATS) rises 5%, Rocket Lab (RKLB) gains 3% and AST SpaceMobile (ASTS) climbs 3% as the Information reports that SpaceX aims to file a prospectus for an initial public offering as soon as this week.
KB Home (KBH) falls 4% after the single-family home builder forecast deliveries for the second quarter that missed the average analyst estimate.
Sturm Ruger & Co. (RGR) rises 5% after the gunmaker said Beretta Holding said it’s prepared to commence a tender offer for up to 20% of the outstanding shares not already owned at a purchase price of $44.80 per share.
Terns Pharmaceuticals (TERN) gains 5% after Merck & Co. agreed to buy the drugmaker in a $6.7 billion deal.
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