Check out the companies that make headlines before the bell. Below are the companies that are making the biggest moves in pre-market trading. NVIDIA – Stocks fell another 3%, extending the chipmaker’s nearly 9% decline on Monday after President Donald Trump enacted tariffs in Canada and Mexico from Tuesday. Investors remain concerned about how tightening tariffs and export restrictions will affect Nvidia’s business in China. After the sale Monday, Nvidia was worth $2.79 trillion, with its shares trading at the same price as last September. TESLA – Stocks fell 3% in pre-market trading as data from the Chinese Passenger Automobile Association showed that sales of vehicles in China fell nearly 50% from the same period a year ago. Overall, Tesla sold over 30,000 of these vehicles, selling the fewest in over two years. OKTA – Cloud Software Stocks surged 14% after strong results in the fourth quarter. OKTA won 78 cents per share, excluding one-off items. Although revenues were $682 million, analysts voted by LSEG projected a profit of 74 cents per share with revenues of $670 million. Illumina – The biotech company’s shares fell 4.4% after China said it would ban Illumina’s gene sequencer import in a retaliatory move shortly after the Trump administration’s latest tariffs. Scotts Miracle-Gro – Shares rose more than 1% after Stifel upgraded Lawn Care Product Maker and bought it from Hold. Banks believe the market is underestimating a “robust” short-term revenue recovery and long-term growth. Best Buy – Best Buy fell about 1% as tariff concerns squeezed emotions. Still, the company exceeded its estimate in the fourth quarter. Best Buy reported adjusted profit of $2.58 with revenue of $139.5 billion for that period, while Analyst predicted Factset’s expected revenue of $13.6 billion with revenue of $2.40. Target – Big Box retailers rose almost 1% after reporting fourth quarter revenue and revenue beyond estimates. Minneapolis-based Target has earned an adjusted $2.41 per share of $2.41, exceeding the $2.26 estimated by analysts voted by FactSet. Revenue of $309.2 billion also surpassed the consensus estimate of $30.78 billion. However, management warned that the first quarter of 2025 would see “meaning year-over-year profit pressure” given tariffs and continued consumer uncertainty. Stellantis, Ford Motor, General Motors – Automakers said after the American Automotive Policy Council, a lobbying group representing all three companies, issued a statement Monday, that the Trump administration should exempt tariff-increasing companies complying with the 2020 US-Mexico-Canada contract signed during Trump’s first period. GM and Ford slid 1% and 0.6% respectively, while Stellantis slumped to 3.4%. gitlab – The software platform company’s shares fell more than 4% after full-year revenue guidance fell below expectations. Gitlab said that the analysts surveyed by FactSet had been supplying pencils at 80 cents per share between 68 cents and 72 cents in adjusted earnings per share this fiscal year. Gitlab’s fourth quarter adjusted revenue and revenue surpassed Wall Street forecasts. -CNBC’s Sean Conlon, Jesse Pound and Sarah Min contributed the report.
