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5 things to know before the stock market opens

5 things to know before the stock market opens
5 things to know before the stock market opens


Shares of Nvidia (NVDA) fall in premarket trading on “triple witching” day, when stock options, stock index futures and stock index options contracts expire simultaneously; Gilead Sciences (GILD) continues to advance after the biotech company's study found its drug lenacapavir effective in preventing HIV in women; Shares of biotech company Sarepta Therapeutics (SRPT) soar after U.S. regulators gave broader approval to its gene therapy to treat a muscle-wasting disease; shares of fast-food chain Chipotle Mexican Grill (CMG) are in focus ahead of its 50-for-1 stock split next Wednesday; and CarMax (KMX) are gaining even though used-car retailers' quarterly results lag Wall Street forecasts. U.S. stock futures are lower after Nvidia's declines on Thursday ended a record winning streak for the Nasdaq and S&P 500. Here's what investors need to know today.

1. Nvidia extends its decline as “triple witchcraft” looms

Shares of Nvidia (NVDA) are falling 1.5% in premarket trading, extending Thursday's declines that knocked the artificial intelligence (AI) chipmaker from its spot as the world's most valuable company. Microsoft ( MSFT ) reclaimed that stock Thursday and its stock was little changed in premarket trading. Nvidia, whose shares are up more than 160% this year amid a frenzy for all things AI, will be particularly at the center of attention as the triple witchcraft happens on Friday. This is the quarterly event in which stock options, stock index futures, and stock index options contracts expire simultaneously on the same trading day, which can lead to increased market volatility . Triple Witching takes place on the third Friday of March, June, September and December.

2. Gilead continues to make progress thanks to the effectiveness of anti-HIV drugs

Gilead Sciences (GILD) extends gains from Thursday, up 3% in premarket trading after the biotechnology company announced that a Phase 3 trial found its injectable lenacapavir was 100% effective for prevent HIV infection in women. Gilead said the results were so conclusive that an independent data monitoring board recommended the company end the blinded phase of the study and offer lenacapavir to all participants.

3. Sarepta Soars on Expanded FDA Approval for Elevidys

Shares of biotech Sarepta Therapeutics (SRPT) soared 37% in premarket trading, extending gains from Thursday after U.S. regulators gave clearance to roll out its Duchenne muscular dystrophy treatment for wider access. The Food and Drug Administration (FDA) has given approval for Elevidys to be offered to all patients ages 4 and older, after previously authorizing it only for children ages 4 and 5. The disease is a rare and serious genetic disorder that worsens over time, causing weakness and wasting of the body's muscles, the FDA said.

4. Chipotle in focus ahead of next week's 50-for-1 stock split

Shares of fast-food chain Chipotle Mexican Grill (CMG) rose less than 1% after falling 6.2% on Thursday, their biggest daily percentage loss since last July. The crisis comes ahead of a 50-for-1 stock split that takes effect next Wednesday, an event that will make the company's shares more accessible to more investors. The stock has gained more than 40% since the start of the year and has more than doubled since the start of 2023.

5. CarMax wins even if the results are lacking

Shares of CarMax (KMX) gained 1.2% in premarket trading, even as the used car retailer's quarterly results lagged Wall Street forecasts. However, the company announced that it was expanding its asset-backed securitization program in order to increase its financial revenues. The company reported net revenue of $7.11 billion for the first quarter of fiscal 2025, down 7.5% from $7.69 billion in the same period of 2025. last year and below the $7.23 billion expected by analysts polled by Visible Alpha. Earnings per share (EPS) of $0.97 was also lower than forecast by $0.98. Retail used unit sales declined 3.1% and wholesale units declined 8.3% from last year, “impacted by a year-over-year lower seasonal appreciation.” other,” CarMax said.




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