Microchip, Under Armour rise in premarket; Adidas falls

Investing.com-- S&P 500 Index futures were little changed at 7:23 AM in New York, as the early New Year rally showed signs of pausing with investors waiting for fresh data to assess the strength of the U.S. economy.

Here are the biggest pre-market movers:

• Nvidia led the so-called Magnificent Seven after Chief Executive Jensen Huang said the company’s highly anticipated Rubin data center processors are now in production and that customers will soon be able to test the technology. Nvidia shares were up 0.7%, with Advanced Micro Devices gaining 0.5%.


• Aeva surged 32% after the company said its 4D LiDAR technology has been selected for the NVIDIA DRIVE Hyperion autonomous vehicle reference platform, marking a significant validation for its sensing technology in advanced driver-assistance systems.


• Microchip Technology rose 4.2% after the analog chipmaker forecast third-quarter net sales above the average analyst estimate. Analysts pointed to the outlook as a sign of a broad-based recovery in demand across key end markets.


• Zeta Global climbed 11% after the software company announced a strategic collaboration with OpenAI. The partnership is aimed at powering conversational intelligence and agentic applications behind Athena by Zeta, its enterprise-focused marketing agent.


• Under Armour gained 3.3% after Fairfax Financial disclosed a 22.2% stake in the company’s Class A shares in a regulatory filing, fueling investor interest in potential strategic involvement by the insurer.


• Adidas shares fell 6% in Europe after BofA Securities double downgraded the stock to Underperform from Buy and cut its price target sharply to 160 euros from 213 euros. Analyst Thierry Cota said the company is shifting toward a single-digit organic sales growth profile and corresponding EBIT margins, against a backdrop of a weakening sector environment.

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