U.S. stock futures were higher Wednesday as market participants absorbed another round of corporate results and positioned ahead of the release of the minutes from the last Federal Reserve meeting. Individual-company headlines drove notable pre-market moves across technology, semiconductors, media and leisure names.
Notable pre-market movers
- Palo Alto Networks (PANW) - The cybersecurity firm slid 6.1% after reducing its annual profit forecast. Management attributed the change to rising costs tied to recent acquisitions intended to bolster the company’s artificial intelligence capabilities.
- Nvidia (NVDA) - The chipmaker climbed 2.2% after announcing a multi-year agreement to supply Meta Platforms with millions of current and future AI chips.
- Amazon (AMZN) - Shares rose 1.7% following regulatory filings showing that Bill Ackman’s Pershing Square increased its stake in the e-commerce company by 65% during the fourth quarter, making the fund Amazon’s third-largest holding.
- Micron Technology (MU) - The memory-chip maker ticked up 0.9% after David Tepper’s Appaloosa Management boosted its position in the company.
- Cadence Design Systems (CDNS) - The chip design software provider jumped 7.3% after beating fourth-quarter revenue estimates and issuing a stronger-than-expected outlook for 2026, a performance the company said was supported by demand for AI-focused design tools.
- Caesars Entertainment (CZR) - The casino operator gained 5.5% after reporting a larger-than-expected increase in fourth-quarter revenue, helped by robust digital performance and stability at its Las Vegas operations.
- SanDisk (SNDK) - Shares fell 2.7% after Western Digital (WDC), which was up 1.9%, said it plans to raise $3.17 billion by selling some of its stake in its former unit via a secondary share sale.
- New York Times (NYT) - The publisher climbed 3.4% after Berkshire Hathaway disclosed a $350 million stake in the company.
- Global-E Online (GLBE) - The fintech stock surged 24% after reporting strong full-year 2025 financial results, with the final three months of the year identified as its strongest quarter on record.
- Riot Platforms (RIOT) - The infrastructure and blockchain-related company rose 5.7% after Starboard Value, a significant investor, sent a letter to the company’s leadership urging action on artificial intelligence and high-performance computing opportunities.
Context and market tone
Overall, the pre-market session reflected investors parsing a mix of corporate earnings beats, management guidance updates and shareholder moves. Technology and semiconductor names were prominent, with AI-related demand and strategic chip supply agreements featuring in the headlines. Media and leisure companies also registered sizable responses to stake disclosures and quarterly results.
Research and subscription note
The conversation around individual stocks included commentary on whether certain winners, such as Cadence Design Systems, merit purchase based on a range of financial metrics and momentum indicators. For investors seeking algorithmic or AI-driven idea generation, some subscription services offer systematic evaluations of stocks across numerous metrics.
Market participants remain attentive to incoming central bank details, as the minutes from the Federal Reserve’s latest meeting are expected to provide additional clarity on policy deliberations and could influence near-term risk appetite.