Investing.com – Global semiconductor stocks fell sharply on Thursday, extending the previous session’s selloff after fresh U.S. inflation data fueled concerns that the Federal Reserve could raise interest rates further. AI-linked stocks remained under pressure as investors reassessed the sustainability of data center spending and the growing role of debt in financing the industry’s expansion.
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Here’s what’s moving in U.S. premarket trading today:-
By 04:29 ET (08:29 GMT), SK Hynix had slumped 6.7% in premarket trading, while Micron Technology fell 4.1%. Western Digital and Seagate Technology each dropped more than 4%, while Nvidia declined 1.8%. Intel and Advanced Micro Devices fell more than 3% each.
The weakness extended beyond chipmakers to AI infrastructure providers, with investors increasingly questioning the financing costs and returns associated with the industry’s rapid expansion.
CoreWeave fell 6% in premarket trading after plunging more than 15% on Wednesday, as the AI cloud computing company faced mounting investor concerns over its debt-funded expansion. The company’s bonds also came under pressure, with the yield on its April-issued bonds due in 2031 rising above 16% — a level typically associated with financial distress. The move prompted Elon Musk to react with “yikes” on social media.
The selloff continued despite assurances from Chief Executive Mike Intrator about the strength of CoreWeave’s deal backlog, highlighting growing investor scrutiny of the financing risks tied to AI infrastructure investment.
Venture Global rose 1.6% in premarket trading after signing agreements with GE Vernova and Baker Hughes Energy Services to expand its power generation capabilities. The agreements cover up to 16 new 720-megawatt power island units, along with associated transformer equipment, supporting the development of more than 10 gigawatts of new power capacity.
The proposed facilities are designed to operate independently of the public electricity grid and supply adjacent data center and computing facilities. The expansion positions Venture Global to serve growing demand for dedicated power infrastructure as AI and other computing-intensive businesses require additional electricity capacity.
Walmart gained 2.6% after Deutsche Bank upgraded the retailer to Buy from Hold and raised its price target to $136 from $113. Analyst Krisztina Katai cited a more favorable outlook for the shares heading into 2027, arguing that persistent inflation could strengthen Walmart’s value proposition and help it capture market share.
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The analyst also expects Walmart’s higher-margin businesses, including advertising, its online marketplace and memberships, to outgrow its core retail operations and support improved overall margins.
Fortrea Holdings climbed 3.8% in premarket trading after Deutsche Bank upgraded the clinical research organization to Buy from Hold and raised its price target to $25 from $20. The move signaled renewed confidence in the company’s recovery prospects. Before the upgrade, analyst ratings included six Buys, five Holds and two Sells.
Commercial Metals advanced 3.93% after reporting fiscal fourth-quarter adjusted earnings of $2.09 per diluted share, beating analyst expectations of approximately $1.96. Revenue reached $2.66 billion, above the consensus estimate of around $2.56 billion.
Core EBITDA rose 35.1% year over year to $393.7 million, while the core EBITDA margin expanded by 100 basis points to 14.8%. For the full fiscal year, net earnings totaled $655.8 million, and consolidated core EBITDA climbed to $1.4 billion from $837.3 million in fiscal 2025. The full-year core EBITDA margin increased by 380 basis points to 14.5%.
Kimberly-Clark rose 1.8% after reporting preliminary third-quarter results that exceeded Wall Street expectations. The consumer goods company posted net sales of $4.13 billion, slightly above the consensus estimate of $4.1 billion, while adjusted earnings reached $1.70 per share, topping forecasts of $1.60.
Penske Automotive Group surged 8.6% after announcing a definitive agreement to be taken private by Motown Acquisition Corp., a vehicle jointly owned by Penske Corporation and Mitsui & Co. The all-cash transaction values the company at $212 per share and implies an enterprise value of approximately $16.3 billion.
The offer received unanimous support from the company’s independent special committee before being approved by the full board. The deal has no financing condition and is expected to close in the first quarter of 2027, subject to the required approvals.
Penske Automotive also declared a quarterly cash dividend of $1.46 per share, a 1.4% increase that brings its annualized payout to $5.84 per share. The dividend is payable on December 1, 2026, to shareholders of record on November 13.
RELX gained 2.6% in premarket trading, reaching $37.87, after Bank of America Securities reaffirmed its Buy rating and 4,000-pence price target on the information and analytics group. The endorsement added to positive analyst sentiment ahead of a key corporate update and followed a constructive stance from Bernstein and a recent Zacks upgrade to Strong Buy. The stock has been recovering from a sharp selloff earlier in the year linked to concerns about the impact of AI on its business.
Rocket Lab tumbled 9.4% in premarket trading to $53.60 after disclosing that the first launch of its Neutron medium-lift rocket had been pushed into 2027. The delay extends a development timeline that had already shifted from 2024 to 2025 and then to late 2026.
In a filing with the U.S. Securities and Exchange Commission on October 14, the company said engineers had identified voids, or small air pockets, in the carbon-composite forward dome of the rocket’s first-stage propellant tank. The structural flaw requires a full redesign and manufacturing process adjustments before the vehicle can safely fly, adding another setback to the rocket’s development schedule.
Original Article
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