Stock futures were rising modestly Thursday as optimism about earnings and the economic recovery outweighed Wall Street's concerns about rising inflation and surging coronavirus cases.
Here are some of the top movers during premarket trading on Thursday:
1. Texas Instruments | Down 4.5%
Texas Instruments (TXN) - Get Texas Instruments Incorporated Report shares fell after the chipmaker revealed muted current-quarter profit guidance, raising concerns that the current level of demand driven by the ongoing semiconductor shortage is unsustainable.
The company reported second-quarter earnings of $2.05 a share.
2. CSX | Up 3.8%
Revenue totaled $2.99 billion, up 33% from a year ago, the company said, driven by growth across all lines of business.
3. AT&T | Up 1.2%
AT&T (T) - Get AT&T Inc. Report shares climbed after the telecommunications company posted stronger-than-expected second-quarter earnings and boosted its full-year revenue guidance as it continues to build its HBO Max subscriber base while reducing churn rates in its wireless division.
4. Biogen | Up 0.15%
The company also reported $2 million in early sales for its controversial Alzheimer's treatment, Aduhelm. Biogen said in a statement that the review process that led to accelerated approval was "extensive and thorough."
4. Southwest Airlines | Down 2.6%
Southwest Airlines (LUV) - Get Southwest Airlines Co. Report shares fell after the air carrier reported an adjusted loss of 35 cents a share. Analysts were expecting the company to post a lost of 23 cents a share.
Revenue rose 297% to $4.01 billion.