Stock futures declined on Tuesday as the Federal Reserve prepared to commence a two-day meeting where it is widely anticipated to maintain interest rates.
Here are some notable movements in the stock market:
- Nvidia experienced a 1.4% decrease after introducing its next-generation chip architecture, Blackwell, and related products, including the B200 artificial-intelligence chip, at its GTC conference.
CEO Jensen Huang hailed generative AI as the defining technology of our era and highlighted Blackwell GPUs as pivotal to powering this new industrial revolution.
- Synopsys saw a 1.4% increase after announcing a collaboration with Nvidia to significantly accelerate chip design and automotive prototyping using AI.
- Super Micro Computer dropped 8.2% after filing to sell 2 million common shares.
The stock had already fallen 6.4% on Monday, its first day in the S&P 500.
- Fusion Pharmaceuticals is being acquired by AstraZeneca for $21 a share in cash plus a non-transferable contingent value right of $3 a share.
AstraZeneca views this acquisition as a significant stride toward transforming cancer treatment and outcomes, aiming to supplant traditional regimens like chemotherapy and radiotherapy with more targeted treatments.
Fusion shares surged 99% to $21.13 in premarket trading, while AstraZeneca fell 0.9%.
- Tesla experienced a 1.2% decrease after a 6.3% gain on Monday, when it emerged as the top-performing stock in the S&P 500.
The increase followed Tesla's announcement of plans to raise Model Y list prices in the U.S. and Europe.
- XPeng reported a fourth-quarter adjusted loss of 28 cents per American depositary share on revenue of $1.84 billion.
Despite this loss, XPeng delivered 60,158 vehicles in the fourth quarter, more than double the amount from a year earlier. U.S.-listed shares of XPeng were up 2.9%.
- National CineMedia witnessed a 24% increase after reporting higher fourth-quarter profit and announcing a $100 million stock buyback.
- DLocal reported fourth-quarter earnings of 10 cents a share, falling short of analysts’ estimates of 15 cents.
The Uruguay-based cross-border payment platform also appointed Mark Ortiz as chief financial officer. The stock declined 14%.