Premarket movers

Mag 7 stocks are mixed (Tesla +0.5%, Microsoft -0.3%, Nvidia +0.2%, Alphabet 0.0%, Apple 0.0%, Amazon -0.1%, Meta -0.1%)

Dronemakers including AeroVironment (AVAV) are higher after the Trump administration said it is applying a 100% tariff on imports of unmanned aircraft systems and their components. AeroVironment shares are up 3%.

Aehr Test Systems (AEHR) rises 8% after Jefferies started coverage on the semiconductor manufacturing company with a buy rating, citing the firm’s growth profile.

Applied Materials (AMAT) falls 5% after the semiconductor capital equipment company’s estimate-topping forecast met with tepid investor reaction following the stock’s frenetic rally this year.

ARS Pharmaceuticals (SPRY) sinks 14% after the company pushed back the timeline for the biotech to reach cash-flow breakeven to the end of 2027. The firm’s management previously expected to reach that mark by the middle of 2027.

Capricor (CAPR) surges 100% after the drug developer said it plans to amend its biologics license application for its drug to treat a rare muscle disease and that the FDA has indicated it is willing to review this amendment. The news spurred an upgrade at Cantor.

Gemini Space Station (GEMI) falls 6% after the crypto exchange founded by the Winklevoss twins reported a wider-than-expected adjusted Ebitda loss for the second quarter amid crypto trading declines.

Globant (GLOB) falls 11% after the IT-services company cut its full-year forecast. It also gave a third-quarter forecast that was weaker than the analyst consensus estimate.

Nubank (NU) gains 10% after the Brazilian fintech reported second-quarter net income that beat the average analyst estimate and saw its 15 to 90-day non-performing loan ratio improve.

Reddit (RDDT) jumps 10% as the social media company is set to join the S&P 500 prior to the opening of trading on Aug. 18.

Sandisk (SNDK) rises 6%, set to extend Thursday’s 14% rally, as JPMorgan assigns an overweight rating following the firm’s investor day.

York Space (YSS) is down 17% after the space and defense company cut the revenue outlook for the full year.

Premarket movers

Mag 7 stocks are mixed (Tesla +0.5%, Microsoft -0.3%, Nvidia +0.2%, Alphabet 0.0%, Apple 0.0%, Amazon -0.1%, Meta -0.1%)

Dronemakers including AeroVironment (AVAV) are higher after the Trump administration said it is applying a 100% tariff on imports of unmanned aircraft systems and their components. AeroVironment shares are up 3%.

Aehr Test Systems (AEHR) rises 8% after Jefferies started coverage on the semiconductor manufacturing company with a buy rating, citing the firm’s growth profile.

Applied Materials (AMAT) falls 5% after the semiconductor capital equipment company’s estimate-topping forecast met with tepid investor reaction following the stock’s frenetic rally this year.

ARS Pharmaceuticals (SPRY) sinks 14% after the company pushed back the timeline for the biotech to reach cash-flow breakeven to the end of 2027. The firm’s management previously expected to reach that mark by the middle of 2027.

Capricor (CAPR) surges 100% after the drug developer said it plans to amend its biologics license application for its drug to treat a rare muscle disease and that the FDA has indicated it is willing to review this amendment. The news spurred an upgrade at Cantor.

Gemini Space Station (GEMI) falls 6% after the crypto exchange founded by the Winklevoss twins reported a wider-than-expected adjusted Ebitda loss for the second quarter amid crypto trading declines.

Globant (GLOB) falls 11% after the IT-services company cut its full-year forecast. It also gave a third-quarter forecast that was weaker than the analyst consensus estimate.

Nubank (NU) gains 10% after the Brazilian fintech reported second-quarter net income that beat the average analyst estimate and saw its 15 to 90-day non-performing loan ratio improve.

Reddit (RDDT) jumps 10% as the social media company is set to join the S&P 500 prior to the opening of trading on Aug. 18.

Sandisk (SNDK) rises 6%, set to extend Thursday’s 14% rally, as JPMorgan assigns an overweight rating following the firm’s investor day.

York Space (YSS) is down 17% after the space and defense company cut the revenue outlook for the full year.

Source:https://twitter.com/zerohedge/status/2088233234542764131