As the U.S. stock market gears up for the trading day, futures are showing a positive trend across major indices. The S&P 500 (ES) is up 0.5%, the Nasdaq 100 (NQ) has gained 0.8%, and the Russell 2000 (RTY) is also climbing by 0.8%. Here’s a breakdown of the biggest movers in pre-market trading:

Big Gainers

1. Broadcom ($AVGO): Shares are surging by 4.5% following news that Apple ($AAPL) is working with Broadcom on a new AI chip.
2. Mondelez ($MDLZ): Up 4.5% after announcing a massive $9 billion share buyback program.
3. Albertsons Companies ($ACI): Gaining 3% after terminating its merger agreement with Kroger ($KR). The company also announced a $2 billion share buyback program and raised its dividend.
4. GameStop ($GME): Jumping 2.5% after reporting an unexpected profit in Q3, surprising analysts and investors.
5. Tesla ($TSLA): Shares are up 2%, buoyed by record weekly EV sales in China and a price target increase from Goldman Sachs, which raised its estimate to $354 from $250.

Notable Decliners

1. Macy’s ($M): Dropping 10.5% after cutting its full-year earnings guidance and issuing a disappointing profit outlook for the next quarter.
2. Dave & Buster’s ($PLAY): Down 14% after reporting a steeper-than-expected quarterly loss and missing revenue estimates.
3. Bausch Health Companies ($BHC): Sliding 3.5% on reports that Blackstone ($BX) is likely to drop out of a consortium involved in a takeover bid for Bausch + Lomb.
4. Travelers Companies ($TRV): Falling 1.2% following a downgrade by Wells Fargo.

Other Key Movers

• Microsoft ($MSFT): Up 0.2% amid reports that Google has requested the FTC block Microsoft’s exclusive cloud deal with OpenAI.
• General Motors ($GM): Gaining 1.5% after announcing it will halt funding for its Cruise robotaxi business due to high scaling costs and increased competition.
• Patterson Companies ($PDCO): Skyrocketing 34% after being acquired by Patient Square for $31.35 per share.

This mix of earnings surprises, strategic business updates, and M&A activity is driving significant pre-market volatility. Keep an eye on these movers as the trading session unfolds.