On this episode of Stock Movers:
- Shares of Tesla (TSLA) are outperforming Magnificent Seven shares in premarket trading ahead of the electric-car maker’s fourth-quarter production and deliveries report. Earlier this week, the company took the unusual step of publishing a series of sales estimates indicating the outlook for its vehicle deliveries may be lower than many investors were expecting.
- ADRs of Chinese tech giant Baidu (BIDU) soared ahead of the US market open after the company's artificial-intelligence chip unit confidentially filed for a Hong Kong initial public offering, kicking off what’s expected to be a busy year for listings by companies backing China’s technological ambitions. The Beijing-based firm said a carve-out listing would better reflect the value of Kunlunxin and appeal to investors focused on general-purpose AI computing chips and related software and hardware systems. Kunlunxin submitted its application to the Hong Kong stock exchange on Friday, Baidu said, adding that details including the size and structure of the IPO haven’t been finalized.
- Shares in furniture stocks could be active on Friday after President Trump delayed tariff increases on upholstered furniture, kitchen cabinets and vanities, easing the pace of his levies as voter frustration over price levels continues to simmer. Shares of Wayfair (W) and RH (RH) both edged higher in the early session.