Premarket Movers: Fair Isaac, SpaceX, AMD Lead the Charge

Fair Isaac’s stock tumbled 18% after Federal Housing Finance Agency Director Bill Pulte unveiled a overhaul of mortgage pricing, replacing the dual‑grid system with a single pricing model that incorporates VantageScore alongside the traditional FICO Classic scale. Advanced Micro Devices rose more than 1% following its $8.2 billion acquisition of AI startup World Labs. Bloomin’ Brands, the parent of Outback Steakhouse, climbed 5% after JPMorgan upgraded its rating from underweight to neutral, citing a refreshed steak menu and a reduced table‑to‑server ratio during peak hours—from six tables per server to four. SpaceX shares edged up 1% after TD Cowen initiated coverage with a buy recommendation, highlighting the company’s expanding role in artificial intelligence and space exploration. Summit Therapeutics jumped 18% after announcing a $2 billion strategic equity investment from AstraZeneca, which also includes a clinical collaboration focused on the oncology candidates ivonescimab and sonesitatug vedotin. Navitas Semiconductor gained 8% after securing a government contract to develop next‑generation chips, a step the company says advances ultra‑high‑voltage silicon carbide power technology. Finally, CarMax advanced more than 6% after posting second‑quarter earnings of $1.16 per share on $7.88 billion of revenue, topping analysts’ expectations of 73 cents per share on $7.09 billion in sales.

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