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Nvidia, Unity Software and Tesla rise premarket; Sofi Technologies fall

by January 2, 2025
written by January 2, 2025

Investing.com — US stock futures rose Thursday, starting the new year on a positive note ahead of the release of unemployment and manufacturing activity data.

Here are some of the biggest premarket US stock movers today:

Apple (NASDAQ:AAPL) stock rose 0.1% after the tech giant offered rare discounts on its latest iPhone models in China, as the US tech giant moves to defend its market share against rising competition.

Nvidia (NASDAQ:NVDA) stock rose 1.7% after Bank of America reiterated the chipmaker as its top pick ahead of the Consumer Electronics Show next week, with CEO Jensen Huang set to deliver his keynote during the event.

Unity Software (ETR:SOWGn) stock jumped 9.2% following a block trade of 1.32 million shares valued at $29.7 million, helped by social media activity surrounding the video game software company surging.

Tesla (NASDAQ:TSLA) stock rose 1.5% ahead of the release of its quarterly deliveries numbers, and after the EV manufacturer’s Cybertruck exploded in flames at the entrance of Trump Hotel Las Vegas on Wednesday.

SoFi Technologies (NASDAQ:SOFI) stock dropped 1% after brokerage KBW downgraded the personal finance company to “underperform” from “market perform”, on doubts over its long-term outlook.

Palantir (NASDAQ:PLTR) stock rose 1.3% and MicroStrategy (NASDAQ:MSTR) gained 4% after the software platform developer and the business intelligence firm were both added to the Nasdaq 100 index.

Uber (NYSE:UBER) stock rose 1.4% despite JMP Securities downgraded the ride-hailing company to “market perform” from “market outperform“, citing the growing influence of autonomous vehicles in the rideshare market.

Cloudflare (NYSE:NET) stock rose 6% after Goldman Sachs upgraded its stance on the cloud cybersecurity company to “buy” from “sell”, citing improving sales and marketing productivity.

Check Point Software (NASDAQ:CHKP) stock fell 0.7% after Goldman downgraded the IT security company to “neutral” from “buy”, reflecting concerns over earnings growth for 2025, despite the company’s ongoing investments.

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