Nvidia (NVDA) stock is moving higher in premarket trading as investors prepare for the company’s shareholder meeting these days, where votes will be hung on government reimbursements, board members and alternative issues; FedEx (FDX) stock is hovering after the parcel delivery carrier reported better-than-expected revenue and forecast consistent revenue growth in the upcoming fiscal year; Micron Generation (MU) stocks are rising as investors await the chipmaker’s quarterly earnings file, with the company expected to report a big jump in earnings as part of its partnership with Nvidia; Shares of electric car (EV) maker Rivian (RIVN) are rising after Volkswagen announced it will invest $5 billion in the startup as part of a three-way partnership that will give the German automaker access to Rivian’s car equipment. will provide access; And shares of Vista Out of Doors (VSTO) are rising after MNC Capital increased its all-cash deal for the company to $42 per share. There was negligible change in US written futures. Here’s what investors want to know these days.
1. Nvidia is moving to the shareholder assembly
After rising nearly 7% on Tuesday, Nvidia (NVDA) stock is rising an additional 2% in premarket trading ahead of the Fake Prudence (AI) giant’s annual shareholder meeting on Wednesday. The meeting will include a non-binding investor vote on compensation programs for Nvidia executives, including Chief Executive Officer (CEO) Jensen Huang, who will earn $34.2 million for fiscal 2024, up from his salary in fiscal 2023. That’s about 60% more than the salary. Shareholders will also vote to re-elect 12 members of the board of directors, including Huang, as well as to renew PwC as the company’s society accounting firm. The company is not expected to make any major new announcements, but Huang or other executives may provide an update on the chipmaker’s progress on its AI products.
2. Increase in FedEx’s profits
FedEx (FDX) stock is rising more than 13% in premarket trading after its quarterly sales beat analyst estimates and its top executive said he expects the company’s 2024 momentum to continue in the upcoming fiscal year. Will remain. The parcel delivery company reported fiscal fourth-quarter revenue of $22.1 billion and earnings per share (EPS) of $5.94, both ahead of Boulevard’s expectations, even though its full-year earnings were down from last year but in line with With analysts’ estimates. CEO Raj Subramaniam said the company has made significant progress in 2024, supported through cost-cutting measures, and he expects this momentum to continue in the 2025 fiscal year as the company projects low-to-mid-single digits. Issue guidance has been issued. PC income growth.
3. Micron Generation is heading towards profit record
Micron Generation (MU) stock is rising nearly 3% in premarket trading Wednesday ahead of the chipmaker’s third-quarter revenue record. Analysts expect Micron to post a significant jump in quarterly revenue over the same period last year, and publish net revenue of about $400 million, later reporting a loss of $1.9 billion in the fiscal quarter of 2023. It is also expected to announce stronger-than-expected steering for the fourth quarter. Micron produces the memory chips worn in Nvidia’s AI clear processing devices (GPUs), giving the company a stake in the operations of business leader Nvidia.
4. Rivian is jumping on Volkswagen funding
Stock of electric car (EV) maker Rivian (RIVN) is hovering more or less up 40% in premarket trading after German automaker Volkswagen (VWAGY) announced plans to invest $5 billion in the startup. The joint venture will give Volkswagen access to Rivian’s car equipment technology, with the startup getting an initial $1 billion investment that year, followed by another $4 billion through 2026. The trade follows Ford’s (F) decision. This year, it was forced to cancel its plan to make plug-in automobiles with Rivian, exiting its majority stake within the California-based EV maker.
5. Vista mulls brandnew takeover deal
Vista Outdoors (VSTO) stock is rising more than 8% in premarket trading after MNC Capital Partners extended its all-cash deal to buy the company. MNC offered 42 percent, or about $3.2 billion, for the maker of outdoor goods and ammunition, 40% more than Vista’s previous closing price before its initial offer to acquire Vista on Feb. 19 and Tuesday’s closing price. 24% more than. Of $33.78. MNC noted that the business has “no regulatory issues and is not subject to any financing conditions,” adding that it “expects that the Vista Board will move expeditiously to sign the merger agreement on the proposed terms.” Will increase.”
