U.S. stock futures were slightly higher on Wednesday as traders awaited the Federal Reserve's latest rate decision and parsed a stream of corporate updates ahead of the open. Several companies reported results or issued guidance that influenced their premarket share prices, with chipmakers and data-storage suppliers among the biggest gainers.
Summary
AT&T rose after raising its annual profit outlook, while Texas Instruments and Seagate posted results or outlooks tied to strong demand for components used in AI data-center deployments. Other corporate reports produced mixed reactions: GE Vernova slipped despite raising its outlook after an acquisition, Walmart trimmed its stock modestly after a workforce reclassification, and a variety of consumer and industrial companies moved lower or higher based on their quarterly news.
Notable premarket movers
- AT&T (T) - Shares climbed 3% following a forecast for annual profit that the company said would exceed market expectations. The carrier cited its ongoing wireless and fiber network expansion as a foundation to capture broadening demand for 5G and high-speed internet services.
- GE Vernova (GEV) - The stock fell 2.1% despite the company reporting fourth-quarter revenue above expectations and raising its financial outlook after completing the acquisition of Prolec GE.
- Walmart (WMT) - The retail giant's shares were down 0.4% after it announced the elevation of 3,000 pharmacy technician roles to operations team lead positions, increasing average hourly wages as it expands digital and pharmacy healthcare services.
- Texas Instruments (TXN) - The analog chipmaker surged 7.1% as a bullish quarterly forecast signaled that demand related to AI data centers is extending beyond the most advanced processors to a broader set of chips.
- VF Corporation (VFC) - Parent of Vans slipped 1.4% even though it reported third-quarter revenue above expectations, with the company pointing to continued strength in footwear, bags and lifestyle apparel amid ongoing economic uncertainty.
- Corning (GLW) - Shares fell 3.1% after backing off Tuesday's gains, despite reporting better-than-expected fourth-quarter 2025 results and having announced a $6 billion deal with Meta the prior day.
- Seagate Technology (STX) - The memory device maker jumped 9.4% after second-quarter adjusted earnings beat estimates, a result the company tied to the rapid buildout of artificial-intelligence data centers.
- Stellar Bancorp (STEL) and Prosperity Bancshares (PB) - Stellar's stock rose more than 11% after regional rival Prosperity Bancshares said it would acquire Stellar in a $2 billion cash-and-stock transaction.
- Brinker International (EAT) - The restaurant operator added 5.2% after reporting second-quarter fiscal 2026 earnings that topped analyst expectations, driven by resilience at its Chili's brand.
- C3.ai (AI) - Shares leapt 14% on a report that the AI software company is in talks to merge with Automation Anywhere.
- NextPower (NXT) - The solar systems provider rallied 12% after reporting third-quarter results that substantially exceeded analyst expectations and raising its full-year outlook.
- Qorvo (QRVO) - The radio-frequency chipmaker dropped 9.5% after issuing current-quarter guidance that missed expectations, citing a "seasonal decline" at its largest customer, identified in the report as iPhone manufacturer Apple.
Key points
- AI data-center expansion is cited as a material demand driver for multiple semiconductor and storage companies, influencing premarket gains in chipmakers and disk manufacturers.
- Operational and workforce changes at large retailers, and acquisitions in the energy and banking sectors, can produce divergent stock responses even when companies report better-than-expected revenue.
- Sectors directly impacted include technology hardware and semiconductors, telecommunications, retail and financial services.
Risks and uncertainties
- Company guidance can miss market expectations, as exemplified by Qorvo's current-quarter outlook, creating downside pressure for supplier stocks in the semiconductor sector.
- Strategic moves such as acquisitions do not guarantee immediate positive share performance, as shown by GE Vernova's decline despite upgraded outlook after acquiring Prolec GE; energy and industrial sectors may see mixed reactions.
- Operational changes at large employers, like Walmart's reclassification of pharmacy roles, may influence labor costs and investor sentiment in retail and healthcare services.
Markets will remain sensitive to the Fed's upcoming decision and subsequent commentary, and equity reactions to company-specific news are likely to continue shaping premarket and regular-session moves.