Stock futures were mostly higher Friday as Wall Street weighed the impact of the strike by workers at the Big Three auto makers, while sentiment received an early lift from better-than-expected economic data in China.
These stocks were poised to make moves Friday:
Nio rose over 3% in premarket trading as it announced earlier this week that it will host a launch event for its new EC6 electric coupe SUV on September 15, starting at 8 pm Beijing time.
XPeng rose nearly 2% in premarket trading as it will hold a launch event for the new G9 on September 19 in Dunhuang, Gansu province in northwest China.
ASML slipped over 3% in premarket trading after TSMC has told its major suppliers to delay the delivery of high-end chipmaking equipment, as the world's top contract chipmaker grows increasingly nervous about customer demand, two sources familiar with the matter said.
Nikola continued to surge over 19% in premarket trading as it is set to begin selling its hydrogen fuel-cell trucks at the end of the month, the company’s chief executive said.
Ford (F) fell 1.7%, General Motors (GM) declined 1.9%, and Stellantis (STLA) dipped 0.4% after the United Auto Workers union launched its first-ever partial strike against the car companies after the sides failed to reach a deal for a new contract ahead of a deadline just before midnight Thursday.
Carvana (CVNA) rose 1.6% and CarMax (KMX) edged higher in premarket trading. Shares of the used-car retailers jumped 13% and 4%, respectively, on Thursday ahead of the auto workers strike.
Arm Holdings (ARM) was rising 8.9% to $69.24 in premarket trading after the U.K. chip design company closed its first day of trading Thursday at $63.59, 25% above the initial public offering price. The IPO for ARM, which provides chip designs to a range of semiconductor manufacturers, including the processor designs used in essentially every current smartphone, was the biggest of the year.
Adobe (ADBE) reported fiscal third-quarter adjusted earnings of $4.09 a share on revenue of $4.89 billion, higher than analysts’ estimates of $3.98 a share on revenue of $4.87 billion. The software company said it expects fourth-quarter earnings of $4.10 to $4.15 a share on revenue of $4.98 billion to $5.03 billion, versus Wall Street forecasts of $4.06 a share on revenue of $5 billion. Adobe shares fell 1.8%.
Fiscal third-quarter earnings and revenue from home builder Lennar (LEN) beat analysts’ expectations. Although revenue fell 2% from the third quarter a year earlier, home deliveries rose 8% and new orders jumped 37%. “Market conditions remained constructive for new homebuilders” during the quarter, said Chief Executive Stuart Miller. The stock fell 0.2%.