5 Things to Know Before the Stock Market Opens

Nvidia (NVDA) shares are moving higher in premarket trading as investors prepare for the company’s shareholder meeting today, where votes will be held on executive compensation, board members, and other issues; shares of FedEx (FDX) are soaring after the parcel delivery service reported better-than-expected revenue and projected continued revenue growth in the next fiscal year; Micron Technology (MU) shares are rising as investors anticipate the chipmaker’s quarterly earnings report after the bell, with the company expected to report a big jump in revenue as part of its partnership with Nvidia; electric vehicle (EV) maker Rivian (RIVN) shares are surging after Volkswagen announced it would invest $5 billion in the startup as part of a joint venture that gives the German automaker access to Rivian’s vehicle software; and Vista Outdoor (VSTO) stock is gaining after MNC Capital raised its all-cash offer for the firm to $42 a share. U.S. stock futures are little changed. Here's what investors need to know today.

1. Nvidia Gaining Ahead of Shareholder Meeting

Following a jump of almost 7% Tuesday, Nvidia (NVDA) shares are rising a further 2% in premarket trading ahead of the artificial intelligence (AI) giant's annual shareholder meeting Wednesday. The meeting will include a non-binding investor vote on compensation packages for Nvidia executives, including Chief Executive Officer (CEO) Jensen Huang, who earned $34.2 million for fiscal year 2024, up nearly 60% from his pay in fiscal 2023. Shareholders will also vote to re-elect the 12 members of the board of directors, which includes Huang, as well as on renewing PwC as the company’s public accounting firm. The company isn’t expected to make any major new announcements, but Huang or other executives could offer updates on the chipmaker’s progress on its AI products.

2. FedEx Surging on Earnings Beat

FedEx (FDX) shares are surging more than 13% in premarket trading after its quarterly sales beat analyst estimates and its chief executive said he expected the company’s 2024 momentum to carry into the next fiscal year. The parcel delivery company reported fiscal fourth-quarter revenue of $22.1 billion and earnings per share (EPS) of $5.94, both ahead of Street expectations, though its full-year revenue was lower than the prior year but in line with analysts' estimates. CEO Raj Subramaniam said that the company made significant progress in 2024, supported by cost-cutting measures, and that he expected the momentum to continue into the 2025 fiscal year, as the company issued guidance of low- to mid-single-digit percent revenue growth.

3. Micron Technology Rising Ahead of Earnings Report

Shares of Micron Technology (MU) are rising almost 3% in premarket trading ahead of the chipmaker’s third-quarter earnings report after markets close Wednesday. Analysts expect Micron to report a significant jump in quarterly revenue over the same period last year, and post net income of nearly $400 million after registering a loss of $1.9 billion in the fiscal third quarter of 2023. The company is also expected to announce stronger-than-expected guidance for the fourth quarter. Micron produces memory chips used in Nvidia’s AI graphic processing units (GPUs), positioning the company to share in industry leader Nvidia’s gains.

4. Rivian Jumping on Volkswagen Investment

Shares of electric vehicle (EV) maker Rivian (RIVN) are soaring roughly 40% in premarket trading after German automaker Volkswagen (VWAGY) announced plans to invest $5 billion in the startup. The joint venture will give Volkswagen access to Rivian’s vehicle software technology, while the startup will get an initial $1 billion investment, followed by another $4 billion by 2026. The deal follows Ford’s (F) decision last year to scrap its plans to develop plug-in cars with Rivian, exiting from its majority stake in the California-based EV maker. 

5. Vista Outdoor Soaring on New Takeover Offer

Shares of Vista Outdoor (VSTO) are rising more than 8% in premarket trading after MNC Capital Partners raised its all-cash offer to purchase the company. MNC offered $42 a share, or about $3.2 billion, for the maker of outdoor products and ammunition, a 40% premium to Vista's last closing price prior to its initial proposal to acquire Vista on February 19 and 24% above Tuesday's closing price of $33.78. MNC said that the deal "has no regulatory issues and is not subject to any financing conditions," adding that it "expects that the Vista Board will move forward expeditiously to sign a merger agreement on the terms proposed."