U.S. equity futures opened the day on an upward trajectory Thursday as market participants monitored ongoing excitement around artificial intelligence and digested updates linked to a high-profile summit between U.S. and Chinese leaders. At 07:13 ET (11:13 GMT) the Dow futures contract was higher by 396 points, or 0.8%. S&P 500 futures were up 25 points, or 0.3%, while Nasdaq 100 futures climbed 93 points, or 0.3%.
Several companies posted premarket moves after releasing quarterly results, guidance, or corporate plans:
- Cisco Systems surged in premarket trading after the networking equipment maker outlined a broad restructuring initiative centered on artificial intelligence. The announcement drove significant upside in the stock ahead of the open.
- Versant Media Group, the owner of cable networks including CNBC and MS NOW, saw its shares rise after first-quarter revenue and profit topped expectations.
- Canada Goose climbed following a fourth-quarter revenue print that came in well above analysts' estimates.
- Doximity fell sharply after the healthcare software company issued a full-year financial forecast that was softer than anticipated, a shortfall the firm said was due in part to pressure tied to investments in artificial intelligence.
- Precigen jumped on stronger-than-expected first-quarter product revenue from the biotech company.
- EquipmentShare recorded first-quarter revenue that exceeded projections, a performance that lifted its shares in premarket trade.
- StubHub posted a spike after first-quarter returns beat expectations. Analysts at Morgan Stanley predicted merchandise sales and revenue should rise in the second half of the year.
- Viking Holdings edged higher after the cruise line operator reported a sharp year-over-year increase in first-quarter revenue.
Market moves reflected a mix of corporate fundamentals and thematic investor focus. Companies reporting revenue and profit above forecasts saw positive price action, while firms presenting cautious full-year outlooks experienced notable sell-offs. The interaction between AI-related corporate strategy and near-term financial outlooks was a clear driver for several of the premarket winners and losers.