Enovix, Forte Biosciences rally premarket; PepsiCo slips

Investing.com - U.S. stock index futures were mixed on Thursday as investors weighed escalating tensions between the United States and Iran against a continued rebound in semiconductor shares.

By 07:09 ET (11:09 GMT), the Dow futures contract had slipped by 85 points, or 0.2%, S&P 500 futures had gained 12 points, or 0.2%, and Nasdaq 100 futures had advanced by 176 points, or 0.6%.

Technology and healthcare stocks led premarket gains, while investors also reacted to earnings and strategic partnership announcements.

Here are some of the biggest premarket U.S. stock movers today:

Enovix surged 17% after the battery technology company appointed former Apple executive Michael Vyvoda as chief operating officer. Vyvoda, who previously helped scale AirPods manufacturing at Apple, will oversee Enovix’s global manufacturing, supply chain and operations as the company ramps up production in Malaysia and South Korea.

Forte Biosciences jumped 12% after reporting positive Phase 1b results for its vitiligo treatment FB102. The company said the therapy delivered a statistically significant improvement over placebo, with patients continuing to show benefits through 24 weeks.

Rackspace Technology gained 8% after announcing a strategic partnership with Palantir Technologies to establish a framework for deploying enterprise artificial intelligence in regulated industries. The agreement positions Rackspace as a preferred partner for implementing Palantir’s Foundry and Artificial Intelligence Platform in sovereign, private cloud and on-premises environments.

PepsiCo slipped 1.8% after reporting mixed second-quarter results. While revenue topped Wall Street estimates on stronger sales across its snacks and beverages businesses, adjusted earnings per share came in just below analyst expectations, prompting modest selling pressure.

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