Stocks making the biggest moves premarket: Novo Nordisk, New York Community Bancorp, Victoria's Secret, Nvidia and more

Published Thu, Mar 7 20248:15 AM ESTUpdated Thu, Mar 7 202410:39 AM EST

Check out the companies making headlines before the bell: Novo Nordisk — Shares jumped 6.6% after the Danish pharmaceutical company reported positive Phase 1 trial data for its new experimental obesity drug, amycretin. Eli Lilly, the company's American rival, dipped 0.7% on the news. Nvidia — Semiconductor companies rose broadly as a group, with the VanEck Semiconductor ETF gaining 1.5% in the premarket. Nvidia shares gained 1.8% after Mizuho said the stock can go to $1,000. Micron Technology shares advanced 3.9% after Stifel upgraded the semiconductor to buy from hold, and raised its price target. Broadcom shares climbed 1.9%. Intel shares rose 1.7%. Kroger — Shares rose 6% after the supermarket chain reported fourth-quarter better-than-expected earnings. The company earned $1.34 per share, excluding certain items. Analysts polled by LSEG expected a profit of $1.13 per share. Revenue of $37.06 billion came in marginally below expectations. American Eagle Outfitters — Shares were 13% higher after the apparel retailer posted fourth-quarter results that beat analyst expectations. American Eagle Outfitters earned 61 cents per share, excluding items, on revenue of $1.68 billion. Analysts expected a profit of 50 cents per share on revenue of $1.67 billion, according to LSEG. Tesla — Tesla shares slid 2% in the premarket, putting the electric vehicle maker on track to add to its 12% decline this week. On Thursday, Citi maintained a hold rating on the stock, saying it will wait for a "more compelling entry point." New York Community Bancorp — Shares of the regional bank rose 3% after releasing updated financials. NYCB reported $77.2 billion in deposits as of March 5, down from $83 billion on Feb. 5. Victoria's Secret — Shares plunged 29% a day after the retailer issued disappointing guidance for the first quarter and full year. Victoria's Secret expects $6 billion full-year revenue, less than the $6.2 billion expected from analysts polled by FactSet. Adjusted operating-income guidance also missed estimates. — CNBC's Michelle Fox, Hakyung Kim, Jesse Pound and Pia Singh contributed reporting. Correction: New York Community Bank's deposits on Feb. 5 were $83 billion. A previous version mistated the figure.