Morning Movers: Kohl’s surges following beat and raise report

Stock futures are holding steady as markets await Nvidia’s highly anticipated quarterly earnings report, expected to be a key moment for the AI-led rally.

Nvidia, which recently became the world’s most highly-valued company with a $4T market cap, is expected to deliver over 50% year-over-year revenue growth, setting the stage for what could be its most volatile post-earnings move in years. Traders and analysts are particularly focused on its performance in China and how its recent U.S. revenue-sharing agreement may affect forecasts. Options markets reflect this tension, pricing in a potential $260B swing in Nvidia’s market value.

The stronger dollar, despite political uncertainty over the Fed, is also weighing on commodities like oil and gold.

In pre-market trading, S&P 500 futures slipped 0.04%, Nasdaq futures fell 0.07% and Dow futures are down 0.02%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe to the daily Fly By.

HIGHER –

• Canada Goose (GOOS) up 16% after CNBC reported Bain Capital has received bids to take the company private at a valuation of about $1.4B

UP AFTER EARNINGS –

• MongoDB (MDB) up 30%
• Kohl’s (KSS) up 19%
• Photronics (PLAB) up 10%

DOWN AFTER EARNINGS –

• J.M. Smucker (SJM) down 4%
• Donaldson (DCI) down 3%

LOWER –

• PayPal (PYPL) down 2% after the German-language publication Suddeutsche Zeitung reported that security systems designed to filter out fraudulent payments have apparently failed, so German banks have blocked direct debits worth tens of billions
• Deutsche Bank (DB) down 4% after Goldman Sachs downgraded the stock to Neutral