Tesla shares rose 1.3% in premarket trading after Elon Musk publicly endorsed the idea of combining SpaceX with the electric-vehicle maker, while Nvidia advanced as part of a broader artificial intelligence-driven rally across the Magnificent Seven group, which otherwise traded mixed. The move in Tesla reflects event-driven repricing, as investors weigh the possibility of a corporate combination against the operational and governance questions it would raise, including related-party dealings between Musk-controlled entities. Nvidia's gain points to AI-linked risk appetite and expectations for continued capital expenditure on accelerated computing, which tends to lift semiconductor and AI infrastructure names more than the broader mega-cap complex. Tesla and Nvidia are the most directly exposed names here, with Tesla carrying idiosyncratic headline risk and Nvidia carrying sensitivity to sector sentiment. Traders should watch the opening auction and early cash-market trading for confirmation of follow-through, as well as any formal filings or board statements addressing the proposed combination.
Premarket movers: Mag 7 stocks are mixed: Tesla (TSLA) climbs 1.3% after Elon Musk openly endorsed the prospect of combining SpaceX with the electric-car maker. Nvidia is also gaining amid a broad AI rally (Nvidia (NVDA) +2%, Amazon (AMZN) +0.2%, Alphabet (GOOGL) -1%, Meta Platforms (META) -0.5%, Apple (AAPL) -0.4%, Microsoft (MSFT) -0.5%). AT&T (T) falls 3% after the wireless carrier reported third-quarter wireless postpaid phone net additions that missed the average analyst estimate. Capital One (COF) rises 2% after reporting third-quarter earnings that beat estimates as the largest US credit-card lender benefited from revenue climbing and kept its expenses in check. DigitalOcean (DOCN) climbs 4% after Piper Sandler upgraded the software company to overweight from neutral, writing that it is seeing an acceleration in growth due to AI. Fortinet (FTNT) slips 3% after Arete downgraded the security software company by two notches, to sell from buy, citing concerns about its growth and valuation. Intuitive Surgical (ISRG) falls 5% after the robotic-surgery company reported US growth for its da Vinci surgical robots in the third quarter that fell short of investor expectations. Netflix (NFLX) is down 6% after the streaming-video company gave a revenue forecast that was weaker than expected, compounding concerns about its growth. Philip Morris International (PM) slips 2% after the tobacco maker cut its profit forecast for this fiscal year as rising energy costs stemming from conflict in the Middle East take a toll. SpaceX (SPCX) is up 6% after reporting third-quarter revenue that was better than the average analyst estimate. The beat was driven by substantial growth in its artificial intelligence and satellite internet businesses. Super Micro Computer (SMCI) jumps 11% after the maker of servers reported preliminary first-quarter sales that were stronger than expected, citing AI-related demand. Zoom Communications (ZM) rises 4% after Oppenheimer upgraded the software company to outperform, writing that its AI platform was working better than expected.
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