FedEx rises sharply in pre-market trading; Super Micro Computer drops significantly

Investing.com -

U.S. stock index futures came under pressure on Friday as investors focused on volatile but still high oil prices and ongoing developments in the Iran conflict.

As of 07:46 a.m. Eastern Time (19:46 Beijing Time), Dow futures fell 151 points, down 0.3%, S&P 500 futures declined 30 points, down 0.4%, and Nasdaq 100 futures dropped 150 points, down 0.6%.

Here are some of the biggest pre-market movers in the U.S. stock market today:

• Oil giants Chevron and ExxonMobil both rose slightly as the Iran conflict persisted, with oil prices fluctuating around the flat line.

• FedEx’s stock surged over 9% in pre-market trading. Despite geopolitical uncertainties, the logistics giant raised its full-year profit outlook and posted better-than-expected Q3 earnings and revenue, driven by strong demand during key holiday periods.

• Planet Labs soared after the satellite imaging group reported Q4 revenue that exceeded expectations.

• York Space Systems surged as JPMorgan analysts called the company’s first-ever revenue guidance “solid.” The company also narrowed its Q4 loss.

• Microchip Technology plunged after U.S. authorities accused one of its co-founders of illegally transferring billions of dollars worth of servers with Nvidia technology to China.

• Figs Inc. rose after Oppenheimer analysts upgraded the medical scrubs retailer to “Outperform.”

• Firefly Aerospace climbed as the spacecraft manufacturer reported Q4 revenue that beat expectations.

• Rhythm Pharmaceuticals increased after the company announced that U.S. regulators approved expanding its treatment indication to include patients aged 4 and above with acquired hypothalamic obesity.

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