Key Points To Watch Out For:

• Intel shares rose 7% after rumors of a potential deal with TSMC
• Tesla advanced 2% in premarket, despite still losing more than 40% in 2024
• Rheinmetall rose 4% in Frankfurt after announcing a 35% increase in sales

Intel (INTC): Potential Alliance with TSMC Boosts Share Price

Intel shares gained 7 percent in premarket trading after a Reuters report revealed that TSMC had approached Nvidia and other U.S. chip firms to invest in a joint venture managing Intel factories.

Tesla (TSLA): Slight Recovery After a 40 Percent Decline in 2024

Tesla rose 2 percent in premarket trading despite concerns over weak sales and CEO Elon Musk’s involvement in U.S. politics. The stock has lost more than 40 percent this year.

Stitch Fix (SFIX): Optimism Follows Improved Revenue Forecast

Stitch Fix shares surged 17 percent in premarket trading after the company raised its annual revenue forecast and reported lower-than-expected losses for the last quarter.

Alcoa (AA), Nucor (NUE), U.S. Steel (X): Market Reaction to New Tariffs

Investors are closely monitoring Alcoa, Nucor, and U.S. Steel as the newly imposed 25 percent tariffs on steel and aluminum imports take effect. So far, shares have remained unchanged in premarket trading.

Rheinmetall (RHM): Sales Growth Boosts Share Price

Rheinmetall shares climbed 4 percent in Frankfurt after reporting a 35 percent increase in sales for 2023. The company has benefited from rising defense spending prospects across Europe.

Porsche (P911): Earnings Warning Weighs on Share Price

Porsche shares declined 3.5 percent in Frankfurt after the automaker warned that its 2024 earnings would be affected by increased investments and job cuts as part of its business transformation strategy.

Today’s Top Earnings Reports

Several key companies are set to release financial reports today, including:

• Adobe (ADBE)
• Crown Castle (CCI)
• UiPath (PATH)

Investors will be particularly focused on growth prospects in the technology and telecommunications sectors..