Chewy, Dollar Tree and GameStop rise premarket; Tesla falls

Investing.com -- U.S. stock futures steadied Wednesday, with investors awaiting more news surrounding trade tariffs, economic data and corporate earnings.

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

Chewy (NYSE:CHWY) stock rose 5.2% after the online pet food retailer reported core income in the fourth quarter that topped analysts’ expectations, bolstered by a solid uptick in demand.

Dollar Tree (NASDAQ:DLTR) stock rose 5.5% after the discount retailer reported better-than-expected fourth-quarter earnings and announced plans to sell its Family Dollar business.

GameStop (NYSE:GME) stock jumped 13% after following the video game retailer’s unanimous approval to incorporate bitcoin as a treasury reserve asset and its announcement of fourth-quarter results.

Tesla (NASDAQ:TSLA) stock fell 1.2% after Mirae Asset Securities downgraded its stance of the EV manufacturer to “hold” from “buy”, with its market share in Europe and China having significantly declined under fierce competitive pressure.

Nvidia (NASDAQ:NVDA) stock fell 1.6% after the Financial Times reported that new energy regulations in China for advanced chips could potentially impact the chipmaker’s sales.

Ashland (NYSE:ASH) stock rose 1.9% after JPMorgan upgraded its stance on the chemicals company to "overweight" from "neutral," citing an attractive entry point for investors amid stabilizing business conditions.

Wingstop (NASDAQ:WING) stock rose 0.9% after Wells Fargo started coverage of the restaurant chain with an “overweight” rating, emphasizing confidence in the brand’s competitive strengths.

Sailpoint (NASDAQ:SAIL) stock rose 3.2% after the provider of identity security solutions announced strong fiscal fourth quarter and full year results.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.NVDA: is this perennial leader facing new challenges?

With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is NVDA one of them?

Unlock ProPicks AI to find out