Nvidia, Palo Alto, Baidu fall premarket; Snowflake, Deere rise

Investing.com -- US stock futures edged higher Thursday, with investors digesting results from AI-heavyweight Nvidia ahead of the release of weekly employment data.

Here are some of the biggest premarket US stock movers today: Nvidia (NASDAQ:NVDA ) stock fell 0.9% after the chip giant's revenue forecast disappointed Wall Street, presenting a sharp slowdown in quarterly revenue growth compared with much stronger year-on-year increases in revenue for the past three quarters. Deere (NYSE:DE ) stock rose 1.4% after the agricultural and construction equipment manufacturer reported fourth-quarter earnings that exceeded analyst expectations, despite facing significant market challenges. Snowflake (NYSE:SNOW ) stock soared 23% after the data analytics provider raised its annual product revenue forecast and said it has teamed up with AI firm Anthropic to build up its cloud services. Palo Alto Networks (NASDAQ:PANW ) stock dropped 2.6% after the cybersecurity firm announced a two-for-one forward stock split as it topped quarterly revenue and profit expectations. Baidu (NASDAQ:BIDU ) stock fell 2% after the Chinese tech giant posted an annual drop in third-quarter revenue. PDD Holdings (NASDAQ:PDD ) stock fell 10% after the Chinese online retailer, and owner of Temu, reported a big quarterly earnings miss as competition intensified. Novartis (SIX:NOVN ) ADRs rose 0.2% after the Swiss pharmaceutical company raised its growth guidance, indicating optimism about its mid-term performance. Logitech (NASDAQ:LOGI ) stock rose 1% after UBS upgraded its stance on the Swiss manufacturer of computer software to ‘neutral’ from ‘sell’, citing a more balanced risk-reward profile after a substantial drop in the company’s share price earlier this year.

Source: Investing.com