Magnificent Seven Stocks Rise in Premarket Trading

Seven large technology companies traded higher in premarket activity. Alphabet rose 1.3 percent, Meta gained 1 percent, Amazon increased 1 percent, Nvidia added 0.6 percent, Microsoft climbed 0.6 percent, Tesla moved up 0.7 percent, and Apple advanced 0.4 percent. Rocket, satellite, and space-linked companies also posted gains. EchoStar rose 5 percent and Rocket Lab increased 4 percent.

Adobe fell 6 percent after the company said its chief financial officer, Dan Durn, would depart. The departure follows an earlier announcement that Chief Executive Officer Shantanu Narayen would step aside. Marvell Technology slipped 1 percent after appointing Dan Durn as chief financial officer, succeeding Willem Meintjes.

Devices gained 2 percent after Citi upgraded the chipmaker to a buy rating. The firm cited the company as a potential beneficiary of artificial intelligence demand. Travelers Cos. declined 2 percent after Barclays lowered its recommendation on the insurer to underweight. The brokerage said profit growth in the property and casualty sector is becoming harder to achieve.