4 stocks to watch on Thursday: TSM, INTC, TM, FTNT

Stock index futures gained on Thursday, as traders weighed President Donald Trump’s latest chip tariffs, softened by sweeping exemptions. Here are four stocks to watch on Thursday:

Taiwan Semiconductor Manufacturing (TSM) shares were up 4.5% in premarket trade after Taiwan said its top chip manufacturer will not have to pay a 100% tariff on such imports to the US. This comes after President Donald Trump said he plans to impose a 100% tariff on semiconductor imports. An exemption for companies that manufacture or commit to manufacturing in the US.

Intel (INTC) stock fell 2% in extended trading after President Donald Trump called for the resignation of the chipmaker’s new CEO, Lip-Bu Tan. Trump’s remarks come on the heels of a letter sent by U.S. Republican Senator Tom Cotton to Intel’s board chair asking questions about Tan’s relations with Chinese companies. He also mentioned a recent criminal case involving his former company, Cadence Design Systems.

Toyota Motor (TM) shares were down 1.3% in premarket trade after the firm said it expects a $9.5 billion hit from U.S. levies that have rattled the global automotive industry. The world’s biggest carmaker now sees ¥3.2 trillion in operating income for the fiscal year ending in March 2026, down from its initial forecast of ¥3.8 trillion.

Fortinet (FTNT) shares tumbled 21% before the market open after it reported second quarter 2025 financial results featuring stronger-than-expected billings revenue but in-line revenue. The company expects Q4 adjusted EPS ranging from $0.62 to $0.64, with the midpoint being a hair above the $0.62 consensus. The company projects revenue to range from $1.67B to $1.73B, with a midpoint of $1.7B, just below the $1.71B estimate.