Nvidia, MongoDB, Okta, C3.ai, NIO, and More Stock Market Movers Thursday
Seagate and Western Digital are trading lower in Thursday's premarket session.
Stock futures were lower Thursday as the fears of a more aggressive Federal Reserve continued to weigh on investors and new lockdowns in China hit sentiment.
Contracts linked to the the Dow Jones Industrial Average fell 0.5%, S&P 50 0 futures declined 0.5%, and futures on the tech stock-heavy Nasdaq Composite were down 0.7%.
These are some of the stocks making notable moves in premarket trading Thursday.
Nvidia (NVDA) stock was 4.3% lower after the chip maker said in a filing the U.S. government has informed the company it has imposed a new licensing requirement, covering any exports of Nvidia’s A100 and upcoming H100 products to China, including Hong Kong, and Russia. Fellow chip maker, Advanced Micro Devices (AMD), fell 2.6% Thursday.
MongoDB (MDB) shares plunged 17% after the database software provider said it expects to report a loss for fiscal 2023 worse than its previous expectations.
Okta (OKTA) sank 16% despite posting strong earnings and lifting its financial forecast for the year, after the company noted that business growth has been affected by unexpected problems with integrating Auth0, which Okta acquired in 2021.
C3.ai (AI) stock fell 14% after the artificial intelligence software company cut its revenue outlook and said it plans on overhauling its business model.
Seagate Technology (STX) was down 2.4% after the data-storage company was downgraded to Hold from Buy at Benchmark, one day after the company reduced its financial forecasts. Western Digital (WDC) was downgraded to Sell from Hold by an analyst at Benchmark. The stock fell 2.2%.
American depositary receipts of Li Auto (LI) were down 2% after the Chinese electric-vehicle maker’s deliveries droppedfrom a year earlier. NIO (NIO) shares were 2.2% lower and XPeng’s (XPEV) stock was down 2.2% despite their delivery reports looking better.
Write to Angela Palumbo at angela.palumbo@dowjones.com