Pre-Market Movers: Ferrari Drops on EV Launch, Tech Stocks Rise Amid Iran Ceasefire Hopes]
Ferrari SpA slipped 3% in early trading after the Italian luxury automaker unveiled its inaugural fully electric vehicle, the Luce, at an event in Rome. Lear Corp. sharerose 2% following a positive analyst update from TD Cowen, which upgraded the auto parts supplier to “buy” from “hold” and cited expectations for stronger-than-anticipated North American auto production. Semiconductor stocks advanced broadly, led by Micron Technology, whose shares climbedmore than 6%, while Qualcomm and Advanced Micro Devices each rose over 3%. The upside followshopes for a swift resolution to rising tensions in the Middle East. Energy shares tracked lower, with Exxon Mobil and Chevron down 1%. Meanwhile, space-themed stocks outperformed, as Intuitive Machines jumped 10% and AST SpaceMobile added 6%. Cantor Fitzgerald cited a $90 million contract award by the U.S. Space Force to Rocket Lab for two geospatial satellites, along with Intuitive Machines’ reaffirmed fiscal-year guidance and anticipation of a contract decision on a Lunar Terrain Vehicle later this week.
