Nvidia, Evgo and Affirm fall premarket; Pfizer and SolarEdge rise
Dec 16, 2024

Investing.com -- US stock futures slipped lower Tuesday ahead of the start of the final Federal Reserve policy meeting this year, which could see policymakers signal a more cautious stance to monetary policy loosening going forward.

Here are some of the biggest premarket US stock movers today:

  • Nvidia (NASDAQ: NVDA ) stock fell 1.6%, continuing the chipmaker’s recent weakness which has resulted in the stock entering correction territory.

  • Pfizer (NYSE: PFE ) stock rose 2.9% after the drugmaker said it was expecting its 2025 profits to be nearly in line with expectations, with the company reining in costs and cutting debt by shedding non-core businesses as its rebuilds itself post a sharp slump in sales of COVID-19 products.

  • Coinbase (NASDAQ: COIN ) stock rose 0.8% and MicroStrategy (NASDAQ: MSTR ) stock climbed 0.7%, with the crypto-focused stocks rallying as bitcoin surpassed $107,000.

  • Albertsons Companies (NYSE: ACI ) stock rose 1% after Telsey Advisory Group upgraded its stance on the supermarket group to "outperform" from "market perform."

  • Evgo (NASDAQ: EVGO ) stock slumped 22% after the EV charging provider announced the closing of its $1.25 billion guaranteed loan facility from the US Department of Energy to construct 7,500 new fast charging stalls nationwide.

  • SolarEdge (NASDAQ: SEDG ) stock rose 13% after Goldman Sachs upgraded its stance on the solar company to ‘buy’ from ‘sell’, saying 2025 will mark a major turnaround.

  • Red Cat (NASDAQ: RCAT ) stock slumped 12%, handing back a portion of the previous session’s 27% gains after the drone company announced a partnership with Palantir (NASDAQ: PLTR ).

  • Affirm (NASDAQ: AFRM ) stock fell 3.7% after the fintech company announced a private offering of $750 million of convertible senior notes and said it plans to repurchase up to $300 million of common stock.

  • Stellantis (NYSE: STLA ) stock rose 2.1% after Reuters reported that the auto giant will assign a new mass market model to one of its Italian plants as part of a long-term production plan due to be presented to the Italian government.