Delta Air Lines, Walgreens and TSMC rise premarket; Nvidia, AMD fall By Investing.com

Investing.com — US stock edged lower Friday, with investors cautious ahead of the release of the highly-influential monthly jobs report.

Here are some of the biggest premarket US stock movers today:

• Taiwan Semiconductor Manufacturing (NYSE:) stock rose 1.2% after the world’s biggest contract chipmaker reported better-than-expected sales for the fourth quarter, boosted by robust demand from the fast-growing artificial intelligence industry.

• Nvidia (NASDAQ:) stock fell 1.6% following a report that new US restrictions on chip exports could be soon announced.

• Tesla (NASDAQ:) stock rose 0.3% after the electric vehicle giant unveiled an updated version of its Model Y offering in China, trying to address fierce competition from domestic rivals in the country.

• Delta Air Lines (NYSE:) stock soared 6.9% after the carrier reported fourth-quarter earnings that surpassed analyst estimates, driven by strong travel demand.

• Advanced Micro Devices (NASDAQ:) stock fell 2% after Goldman Sachs downgraded its stance on the tech company to “neutral” from “buy”, citing underperformance and cyclical challenges.

• Travelers (NYSE:) stock fell 4.1% as wildfires ravaged Los Angeles, with the insurance sector bellwether set to face catastrophe-related claims worth billions of dollars from the disaster, which analysts estimate will be the costliest ever in California.

• Walgreens Boots Alliance (NASDAQ:) stock rose 11% after the pharmacy retailer reported first-quarter earnings and revenue above analyst expectations, and delivered an upbeat annual forecast.

• Constellation Energy (NASDAQ:) stock rose 12% after the company said it would buy privately held Calpine Corp, a geothermal and natgas energy company, in a cash-and-stock deal valued at $26.6 billion including debt.

• Pfizer (NYSE:) stock rose 0.5% after the drugmaker said its experimental treatment for a type of bladder cancer significantly improved the time that patients remained free of certain complications, including cancer recurrence, following data from a late-stage study.

• Nike (NYSE:) stock rose 1% after Piper Sandler upgraded its stance on the footwear retailer to “buy” from “neutral”, saying a path to recovery is emerging.

• Wayfair (NYSE:) stock rose 4.9% after the online furniture retailer announced plans to cut 730 jobs as it looks to focus on physical stores.