5 things worth knowing before opening the stock exchange

Shares of Nvidia (NVDA) are rising in pre-market trading as investors prepare for the company’s shareholder meeting today, where there will be a vote on executive compensation, board members and other issues; FedEx (FDX) shares surge after the parcel delivery company reported better-than-expected revenue and expected continued revenue growth in the next fiscal year; Micron Technology (MU) shares are rising as investors await the chipmaker’s quarterly earnings report after the bell, with the company expected to post big revenue growth from its partnership with Nvidia; Shares of electric vehicle (EV) maker Rivian (RIVN) are rising after Volkswagen announced it will invest $5 billion in the startup in a joint venture that will give the German automaker access to Rivian vehicle software; and Vista Outdoor (VSTO) are rising after MNC Capital increased its all-cash offer for the company to $42 per share. US stock futures were little changed. Here’s what investors need to know today.

1. Nvidia gains before the general meeting

After surging nearly 7% on Tuesday, shares of Nvidia (NVDA) are up another 2% in pre-market trading ahead of Wednesday’s annual shareholder meeting of the artificial intelligence (AI) giant. The meeting will include a non-binding vote by investors on compensation packages for Nvidia executives, including Chief Executive Officer (CEO) Jensen Huang, who earned $34.2 million for fiscal year 2024, a nearly 60% increase from his compensation in fiscal year 2023. Shareholders will also vote to re-elect 12 board members, including Huang, as well as to renew PwC as the company’s public auditor. The company is not expected to make any significant new announcements, but Huang or other executives could offer updates on the chipmaker’s progress with AI products.

2. FedEx is growing rapidly thanks to record results

Shares of FedEx (FDX) rose more than 13% in pre-market trading after quarterly sales topped analyst estimates and the chief executive said he expected the company’s momentum in 2024 to carry over 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, which was higher than Street expectations, although its full-year revenue was lower than the prior year , but in line with analysts’ estimates. CEO Raj Subramaniam said the company made significant progress in 2024, helped by cost-containment measures, and that he expected this momentum to continue into fiscal 2025 after the company issued low-to-mid percentage revenue guidance single-digit growth.

3. Micron Technology Rise Ahead of Earnings Report

Shares of Micron Technology (MU) are up nearly 3% in pre-market trading ahead of the chipmaker’s third-quarter earnings report after markets close on Wednesday. Analysts expect Micron to report a significant increase in quarterly revenue compared to the same period last year and post a net profit of nearly $400 million after reporting a loss of $1.9 billion in the third fiscal quarter of 2023. It is also expected that the company will announce stronger-than-expected guidance for the fourth quarter. Micron produces the memory chips used in Nvidia’s AI graphics processing units (GPUs), which allows it to share in the profits of industry leader Nvidia.

4. Rivian Jumping at Volkswagen Investment

Shares of electric vehicle (EV) maker Rivian (RIVN) are up about 40% in pre-market 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 receive an initial investment of $1 billion, followed by another $4 billion by 2026. The deal follows Ford’s (F) decision last year to abandon plans to develop plug-in technology. in cars with Rivian, withdrawing from its majority stake in the Californian manufacturer of electric vehicles.

5. Vista Outdoor goes from strength to strength with new takeover offer

Vista Outdoor (VSTO) shares are up more than 8% in pre-market trading after MNC Capital Partners raised its all-cash offer to buy the company. The MNC offered $42 a share, or about $3.2 billion, to the outdoor products and ammunition maker, representing a 40% premium over Vista’s last closing price before it made its initial proposal to acquire Vista on Feb. 19 and 24% above Tuesday’s closing price of $33 .78 dollars. The MNC said the transaction “does not involve regulatory matters and is not subject to any financing conditions,” adding that it “expects the Vista Board to move expeditiously to sign the merger agreement on the proposed terms.”