Tesla, Nvidia, Spirit Aerosystems, Boeing, Accenture, and More Market Movers

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Stock futures were falling after central banks across the globe announced interest-rate hikes. The moves followed testimony from Federal Reserve Chairman Jerome Powell on Wednesday who told Congress that the U.S. that the central bank likely would be raising rates further this year.

These stocks were poised to make moves Thursday: 

Tesla

(TSLA) was falling 3.3% in premarket trading to $250.82 after shares of the electric-vehicle maker tumbled 5.5% in the previous session. On Thursday, Morgan Stanley downgraded the stock to Equal Weight from Overweight. Shares were downgraded to Hold from Buy from analysts at Barclays on Wednesday.

Nvidia

(NVDA) declined 1% to $426.30. Lynx analyst KC Rajkumar on Wednesday said “investor expectations of NVDA have reached frothy levels.” He set a $360 target price on the stock. Wall Street analysts, on average, see the shares rising to $445.38, according to estimates on

FactSet
.

Intel

(INTC) and

Advanced Micro Devices

(AMD) edged slightly higher in premarket trading. The stocks fell 6% and 5.7%, respectively, on Wednesday after Intel disclosed plans to make its foundry business more competitive.

Spirit AeroSystems

(SPR) was falling 9.2% as the

Boeing

(BA) supplier said it would suspend factory production after union workers at the company voted to strike.

Boeing

fell 3.3%.

Accenture

(ACN) fell 5% after the company cut its growth outlook for fiscal 2023.

Activist investor Elliott Investment Management is seeking to oust the chief executive of

NRG Energy

(NRG), The Wall Street Journal reported, citing people familiar with the matter. The stock rose 3%. Elliott is in talks with potential candidates to replace CEO Mauricio Gutierrez as well as other top executives, the people told the Journal. The activist investor last month disclosed it had acquired a stake of about $1 billion in

NRG Energy
.

KB Home

(KBH) was down 2% in premarket trading. The home builder reported fiscal second-quarter earnings that beat analysts’ estimates and said it expects revenue in 2023 of between $5.8 billion to $6.2 billion for 2023, higher than its previous forecast. Analysts had been expecting fiscal-year revenue of $5.62 billion.

Logitech International

(LOGI) was rising 1.3% after the board of the computer peripherals maker approved a new stock buyback program of up to $1 billion. Shares of Logitech fell 2.7% on Wednesday following reports that said one of its gamepads was used to steer the missing Titanic submersible.

Write to Joe Woelfel at joseph.woelfel@barrons.com