(Updated with Gamestop, United Airlines, Alaska Air)
PARIS, May 17 (Reuters) – Main values to follow on Friday on Wall Street, where futures contracts on the main indices suggest a stable opening for the Dow Jones and for the Standard & Poor’s 500 but up 0.13% for the Nasdaq:
* MICROSOFT said Thursday it plans to offer customers of its cloud computing products access to artificial intelligence (AI) chips manufactured by AMD, and capable of competing with NVIDIA components. AMD gains 2.4% before the opening. Separately, the European Commission said on Friday that it could fine Microsoft if it does not provide adequate information by May 27 on the risks arising from generative AI functions in its search engine on Internet Bing.
* APPLIED MATERIALS – The semiconductor equipment maker announced Thursday that it expects third-quarter revenue to exceed Wall Street estimates, thanks to robust demand fueled by a boom in artificial intelligence.
* TAKE-TWO INTERACTIVE SOFTWARE lowered its game booking projections for fiscal 2025 on Thursday, raising concerns that the release of its highly anticipated “Grand Theft Auto VI” could be postponed. The stock lost 2.8% before the opening.
* FORD MOTOR has asked its electric vehicle suppliers to cut costs to support profitability, saying “everything is on the table” to improve profitability, according to an internal memo seen by Reuters.
* AIR SECTOR – Joe Biden signed a large-scale law on Thursday that will strengthen the workforce of air traffic controllers, increase funding to avoid runway closures and make reimbursements for canceled flights faster.
* REDDIT – ChatGPT, designed by OpenAI, will be able to tap into content from the social media platform, the two companies said on Thursday. The title takes 14% before the opening.
* GAMESTOP rebounded by 10% in pre-market trading and AMC ENTERTAINMENT by 4.9% in a context of renewed attractiveness for “same stocks” after two sessions of respective declines totaling 43% and 32%.
* GAMESTOP announced that it expects a drop in its turnover in the first quarter year-on-year, as customers increasingly buy video games and collectibles online rather than in its stores.
* DXC TECHNOLOGY – The IT management company announced that it forecast lower-than-expected revenue for the first quarter on Thursday, with the group expecting a drop in spending by its clients due to economic uncertainty. The stock lost 21.6% before the opening.
* UNDER ARMOR – JP Morgan lowers its recommendation from “neutral” to “underweight”.
* UNITED AIRLINES – Wolfe Research raises its recommendation from “in line performance” to “outperform”. The title gained 1.4% before the opening.
* ALASKA AIR – Wolfe Research raises its recommendation from “in line performance” to “outperform”. The title gained 1.8% before the opening.
(Written by Corentin Chappron and Claude Chendjou, edited by Kate Entringer)
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