U.S. stock futures drifted lower on Friday as an intensification of conflict in the Middle East sent oil prices higher and renewed investor worry about inflationary pressures on economic activity.
Against that backdrop, a number of companies registered marked premarket moves tied to earnings signals, guidance adjustments and industry data. Below are the most significant movers and the company developments behind the swings.
- Marvell Technology (NASDAQ:MRVL) climbed 11% after the semiconductor designer raised its full-year revenue outlook. Management credited continued strong data-center spending from AI hyperscalers for the improved guidance, a development that underpinned the stock's sharp premarket gain.
- Gap (NYSE:GAP) tumbled 8.4% following a forecast that placed its annual adjusted profit largely below Wall Street expectations. The retailer cited a combination of tariff pressures compressing apparel margins and a consumer shift toward being more selective with non-essential purchases as drivers weighing on profitability.
- Tesla (NASDAQ:TSLA) slipped 0.6% after industry data showed a 37% year-over-year drop in U.K. sales for February, according to the Society of Motor Manufacturers and Traders. The sales decline in that market coincided with the modest premarket weakness in the stock.
- Oracle (NYSE:ORCL) edged up 0.2% following reports that the enterprise software company is planning thousands of job cuts as it grapples with a cash shortfall tied to a large-scale AI data center expansion effort.
- Costco (NASDAQ:COST) fell 0.4% despite reporting second-quarter comparable sales that beat Wall Street estimates. The warehouse retailer benefited from resilient holiday-season demand for affordable essentials and discretionary "nice-to-have" items sold through its membership stores, but the stock still moved lower in premarket trading.
- Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) both rose by more than 1% as oil prices continued to climb. The two integrated energy majors are positioned to record their steepest weekly gains since Russia's invasion of Ukraine in 2022.
- Nutex Health (NASDAQ:NUTX) plunged 28% after reporting fourth-quarter revenue that fell short of the average analyst estimate, prompting a sharp selloff in the health-focused application software firm's stock.
- Samsara (NYSE:IOT) advanced 10% after posting fourth-quarter adjusted earnings per share that exceeded the average analyst forecast, driving the strong premarket appreciation in its shares.
The market's sensitivity to geopolitical developments is evident in the way energy names have reacted to the recent rise in oil, while company-level news on guidance, sales trends and profitability continues to create distinct winners and losers in premarket trade.
What this means for sectors
- Energy: Elevated oil prices supported gains in major integrated energy companies.
- Technology and Semiconductors: AI-driven data-center investment is a clear tailwind for suppliers such as Marvell.
- Retail and Consumer: Tariff pressure and shifting consumer discretionary behavior are weighing on apparel players like Gap, while membership-based grocers show resilience.