Nvidia, Dollar Tree and Hormel Foods fall premarket; Gitlab rises

Investing.com -- U.S. stock futures fell Wednesday, pointing to further losses after the previous session’s sharp selloff on growth concerns.

Here are some of the biggest premarket U.S. stock movers today

• Nvidia (NASDAQ:NVDA) stock fell 2.1% after Bloomberg News reported that the company had been sent a subpoena by the US Department of Justice as part of a deepening probe into its artificial intelligence chip market dominance.

• Dollar Tree (NASDAQ:DLTR) stock slumped 12% after the discount retailer reported fiscal second-quarter earnings that fell well short of expectations and cut its full-year outlook, citing increasing pressure on its middle- and higher-income customers.

• Hormel Foods (NYSE:HRL) stock fell 5.1% after the food manufacturer reported fiscal third-quarter sales that fell short of estimates and lowered its guidance.

• Zscaler (NASDAQ:ZS) stock fell 15% after the cloud security company reported fiscal fourth-quarter results that topped expectations, but its outlook for fiscal 2025 fell short of expectations.

• Asana (NYSE:ASAN) stock fell 14% after the software company reported a challenging quarter while announcing a change in its CFO.

• Pagerduty (NYSE:PD) stock fell 14% after the digital operations management platform reported quarterly revenue falling short of expectations and provided weaker-than-anticipated guidance.

• Clover Health Investments Corp (NASDAQ:CLOV) stock gained 12% as the health care company’s Counterpart Unit secured a contract from the Iowa Clinic.

• Gitlab (NASDAQ:GTLB) stock increased 15% after the software-development platform raised its full-year outlook, as more businesses try to embed artificial intelligence and security protections into their technology.

• United States Steel (NYSE:X) stock rose 0.5%, rebounding after a 6% drop the previous session, with the WSJ reporting that the company would close mills and likely move its headquarters out of Pittsburgh if the $14.9 billion buyout by Nippon Steel collapses.