Investing.com — U.S. stock index futures pointed mostly higher on Thursday after Taiwan Semiconductor Manufacturing Co. — the world’s biggest contract chipmaker — posted a stronger-than-expected third-quarter profit on Thursday that was driven by sustained demand from the artificial intelligence industry.
By 08:01 ET (12:01 GMT), the contract had gained 23 points or 0.4% and had added 160 points or 0.8%, and had inched up by 33 points or 0.1%.
Here are some of the biggest premarket US stock movers today:
- US-listed shares in Taiwan Semiconductor Manufacturing Co. (NYSE:) jumped after the chipmaker clocked a net profit of T$325.26 billion ($10.1 billion) in the three months to September 30. The figure was higher than a Reuters estimate of T$300.2 billion. TSMC also provided an upbeat outlook for the current quarter, partly citing improved capacity utilization.
- Chip stocks rose after TSMC’s blowout earnings report. Shares in TSMC-customer Nvidia (NASDAQ:) climbed 3.1% in premarket trading, while Advanced Micro Devices (NASDAQ:) and Broadcom (NASDAQ:) added 2.7% and 2.8%, respectively. Intel (NASDAQ:) shares also advanced by 1.2%, Qualcomm (NASDAQ:) increased by 2.3%, and Micron Technology (NASDAQ:) gained 2.2%.
- Alcoa (NYSE:) shares rose after the aluminum producer unveiled better-than-anticipated adjusted core earnings for the third quarter that were boosted by a jump in alumina prices.
- Expedia (NASDAQ:) Group (BVMF:) shares spiked following a report in the Financial Times that ride-hailing giant Uber (NYSE:) had explored a possible offer for the digital travel booking firm.
- Freight-transportation group CSX Corporation’s (NASDAQ:) shares slumped on weaker-than-expected third-quarter earnings per share and revenue, with analysts citing the impact of recent hurricane activity.
- Fortinet (NASDAQ:) shares slipped after analysts at Mizuho downgraded their rating of the security software business.
- Shares in SolarEdge Technologies (NASDAQ:) dipped after analysts at Guggenheim lowered their rating of the solar company to “Sell” from “Neutral”.
- Topgolf Callaway Brands (NYSE:) dropped after B. Riley analysts slashed their rating of the golf company due to weakness at its eponymous chain of driving ranges.
