Stock index futures fell on Wednesday as the retail inflation report came in line, while traders continue to assess the U.S.-Israel-Iran conflict.
Here are the four stocks to watch on the day:
Eli Lilly (LLY) edged down 0.11% in premarket trade after announcing the submission of a marketing application for its experimental weight loss drug, orforglipron, in China. The Indiana-based drugmaker also revealed plans to invest $3 billion in the country over the next decade to expand its supply chain capacity there. A major component of the investment is building local production capacity for its pipeline, including orforglipron.
NIO (NIO) slipped 1.9% in premarket trading despite receiving an upgrade from Nomura following the Chinese electric vehicle maker’s latest earnings report. Analysts Joel Ying and Ethan Zhang pointed to an encouraging outlook and expect current business momentum to continue. The firm noted clear improvement in NIO’s financial performance and shipment momentum over the past two quarters, suggesting the company is finally moving into a healthier business cycle.
Microsoft (MSFT) rose 0.2% before the opening bell after backing Anthropic’s lawsuit seeking a temporary restraining order on the Pentagon’s blacklisting of the AI startup. In an amicus brief filed this week, Microsoft wrote that as an Anthropic partner, it is directly impacted by the Department of War’s designation that Anthropic presents a supply chain risk to national security. The company said a restraining order would allow time for an orderly resolution of the dispute.
Ford (F) ticked up 0.1% in premarket trade following the unveiling of Ford Pro AI, an intelligent fleet assistant for its commercial subscription customers. The tool is designed to help fleet managers increase efficiencies, identify vehicles that need servicing, and monitor irregular driving patterns that could drive up fuel costs. Unveiled at the Consumer Electronics Show in early January, Ford Pro AI is part of the company’s efforts to boost revenue in its Pro commercial business, a crucial area of growth for the Detroit automaker.