Pre-Bell | U.S. Stock Futures Edge up; AMD Soars 12%; Vir Biotech Rockets 60%; TSMC up over 2%; Nvidia, Tesla Fall Slightly; Novo Nordisk Sinks 3%

01 Stock Market

As of Feb 24, U.S. stock index futures performed as follows: Dow Jones futures rose 0.24%, Nasdaq 100 futures gained 0.35%, and S&P 500 futures added 0.14%. The advance was led by strength in semiconductor-linked names and AI-exposed technology, with investors parsing fresh corporate actions in hardware and infrastructure. Futures pricing suggests a cautiously constructive tone relative to the prior session’s pullback, while chip supply-chain updates and collaboration headlines are supporting pre-market risk appetite in growth areas.

Notable Stock Movers: AMD up 11.90% at $220.00; VIR up 60.16% at $11.90; TSM up 2.67% at $379.93; INTC up 1.90% at $44.46; NVDA fell 0.75% at $190.12; TSLA fell 0.55% at $397.64; MSFT up 0.11% at $384.91; PLTR fell 1.62% at $128.48. Moves reflect upbeat sentiment toward semis and AI infrastructure, while selective profit-taking appears in mega-cap tech and AI software. Biotech strength is notable on collaboration catalysts, and China-linked chip ADRs are broadly firmer.

Semiconductor momentum is underpinned by capacity, equipment, and inference developments, while AI-adjacent hardware is finding support from new partnerships. Price action in software and select growth names remains mixed as investors balance capital-spending plans and pipeline visibility. Overall, pre-market flows skew toward chips, data infrastructure, and event-driven biopharma, with traders watching corporate updates for confirmation of durable demand trends.

02 Other Markets

• 10-year U.S. Treasury yield rose 0.19%, to 4.03%.

• U.S. Dollar Index rose 0.2098% to 97.92.

• WTI crude oil futures fell 0.02% to 66.30 USD/barrel; COMEX gold futures fell 0.92% to 5177.70 USD/ounce.

03 Key News

1. Advanced Micro Devices said on Tuesday it has agreed to sell up to $60 billion worth of artificial intelligence chips to Meta Platforms over five years in a deal that allows the Facebook owner to purchase as much as 10% of the chip firm. Shares of AMD soared 12% on the news..

2. Intel and SambaNova unveiled a multi-year collaboration to deliver cost-efficient AI inference at scale on Xeon-based infrastructure. INTC and SambaNova aim to integrate CPUs, GPUs, networking, storage, and SambaNova’s AI platform to support heterogeneous data centers. Intel Capital is participating in SambaNova’s Series E round, reinforcing strategic alignment in AI workloads.

3. ASML detailed a breakthrough in EUV light-source power, targeting major gains in wafer throughput for advanced chipmaking. ASML said its EUV system can consistently generate around 1,000 watts under high-volume conditions, with a roadmap toward higher outputs. The advance could lift per-hour wafer processing materially, strengthening ASML’s competitive position in leading-edge lithography.

4. Home Depot beat quarterly sales and reaffirmed its annual outlook, citing steady demand from professional customers. Home Depot highlighted resilience in Pro contractor activity and lower-cost repairs, offsetting slower big-ticket remodels. The retailer maintained guidance, pointing to stabilizing housing-related trends and ongoing operational discipline.

5. Vir Biotechnology signed a collaboration with Astellas to co-develop VIR‑5500 and reported quarterly sales that exceeded expectations. VIR secured up-front and near-term payments with the potential for additional milestones and royalties. Promising early clinical signals in prostate cancer and strong license-related revenue recognition supported investor confidence.

6. Keysight guided second-quarter profit above Wall Street estimates, lifting pre-market sentiment in test and measurement equipment. KEYS said demand across electronics testing and communications remains healthy, with margin execution supporting outlook. The forecast underpins expectations for stabilization across hardware-oriented enterprise spending.

7. Whirlpool launched concurrent public offerings of common stock and depositary shares to raise approximately $800 million. WHR said the capital raise supports balance-sheet flexibility and strategic priorities. Investors are watching potential impacts on leverage and capital allocation as the appliance maker navigates demand and cost cycles.

8. Hims & Hers guided first-quarter revenue below expectations and flagged regulatory scrutiny on compounded weight-loss products. HIMS cited personalized shipping requirements and FDA scrutiny as near-term headwinds, while emphasizing diversification beyond weight loss and international expansion plans. The company reiterated longer-term growth targets.

9. PayPal attracted unsolicited interest from potential suitors and held discussions with banks about strategic options. PYPL is reportedly evaluating interest that spans possible full-company bids and asset-level proposals. The attention follows a pronounced share-price slide, prompting speculation around strategic reviews and portfolio optimization.

10. Novo Nordisk’s next-generation obesity candidate CagriSema underperformed Lilly’s rival therapy in a comparison study. NVO faced investor concern after the drug failed to show noninferior weight-loss outcomes versus LLY’s market leader, raising questions about competitive positioning. Manufacturing complexity and efficacy signals may reshape the product’s commercial trajectory.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: For informational purposes only; not investment advice.