Check out the companies making the biggest moves in pre-market trading: Nvidia — President Donald Trump said the U.S. will allow the tech giant to ship its H200 artificial intelligence chip to countries including China. The US gets a 25% cut of sales, but this is only given to approved customers. The stock rose 1%. Ares Management — Shares rose 8.6% after the alternative investment manager announced it would join the S&P 500 starting Thursday. Ares replaces Keranova, which was acquired by Mars. CVS — The drugstore giant’s stock rose more than 2% after the company announced its 2026 profit outlook, which beat Wall Street expectations and this year’s expected profit, showing that its turnaround plan is well underway. Toll Brothers — The homebuilder reported poor fourth-quarter results, sending its stock price down 4%. Thor’s adjusted earnings were $4.58 per share, compared with analysts’ estimates compiled by LSEG of $4.89 per share. AeroVironment — The drone maker rose 2% after winning an $874.26 million contract from the Army for unmanned aircraft systems and anti-UAS systems. Home Depot — Shares fell more than 1% after the home improvement giant announced lower-than-expected earnings growth forecasts for 2026. The company expects adjusted diluted earnings to expand in the range of 0% to 4%. Analysts polled by FactSet had expected 5.2%. Alexander & Baldwin — The Hawaii-based real estate investment trust soared nearly 38% after announcing it would be taken private in a $2.3 billion deal. Viking — Cruise shares rose 2% after Goldman Sachs upgraded the company to a buy rating. The bank believes Viking’s differentiated geographic exposure and high-income demographic can help it avoid widespread disruption within the cruise sector, while also creating additional value through a potential future buyout program. Meanwhile, Norwegian Cruise Line fell nearly 2% after Goldman Sachs downgraded the stock to neutral. AutoZone — Shares are down nearly 2% after the auto parts retailer reported weaker-than-expected first-quarter results. AutoZone posted earnings of $31.04 per share and revenue of $4.63 billion. Analyst estimates compiled by LSEG were for earnings of $32.51 per share and revenue of $4.64 billion. —CNBC’s Yun Li, Fred Imbert, Lisa Han and Liz Napolitano contributed reporting.
