Why Intuitive Machines Shares Are Trading Higher By Around 41%; Here Are 20 Stocks Moving Premarket

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:

• Wall Street expects General Mills, Inc. to report quarterly earnings at $1.06 per share on revenue of $4.80 billion before the opening bell, according to data from Benzinga Pro. General Mills shares rose 0.4% to $74.83 in after-hours trading.
• 23andMe Holding Co. disclosed that the independent directors resigned from the Board. 23andMe shares dipped 15% to $0.29 in the after-hours trading session.
• Analysts are expecting Steelcase Inc to post quarterly earnings at 37 cents per share on revenue of $864.10 million for the recent quarter. Steelcase shares gained 0.8% to $14.12 in the after-hours trading session.

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• Intuitive Machines, Inc. said it was awarded a NASA Near Space Network contract for communication and navigation services, with a maximum potential value of $4.82 billion. Intuitive Machines shares jumped 55.6% to $8.40 in the after-hours trading session.
• Analysts expect Sangoma Technologies Corporation to post a quarterly loss at 3 cents per share on revenue of $61.03 million after the closing bell. Sangoma Technologies shares 6% to $6.37 in after-hours trading.

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The U.S. stock market had a mixed close on Tuesday. The Dow Jones slipped slightly by 0.4%, finishing at 41,606.18. Meanwhile, the S&P 500 edged up 0.03% to 5,634.58, and the Nasdaq gained 0.2%, closing at 17,628.06.

Investors are now keenly awaiting the Federal Reserve’s meeting scheduled for Wednesday, where a cut in interest rates is widely expected.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Intuitive Machines, Inc.

Intuitive Machines’ stock plummeted by 5.59%, closing at $5.40 after hitting an intraday high and low of $5.87 and $5.34 respectively. The company’s shares surged 55.6% to $8.40 in extended trading after it secured a NASA contract for communication and navigation services in the near space region.

Netflix Inc.

Netflix’s stock rose by 1.49% to close at $706.91. The streaming giant’s shares reached an intraday high of $707.63 and a low of $698.37. Co-CEO Ted Sarandos stated that there’s no such thing as too much content in the ever-changing streaming sector.

See Also: Elon Musk Reacts After Trump Campaign Releases Over 50 Examples of Democrats’ Rhetoric That ‘Inspired Assassination Attempt’

Li Auto Inc.

Li Auto’s stock soared by 12.28% to close at $21.39. The Chinese electric vehicle manufacturer’s shares hit an intraday high and low of $21.4 and $20.21 respectively. The company’s stock traded higher following a report indicating that the People's Bank of China plans to cut the bank reserve requirement ratio.

Trump Media & Technology Group Corp

Trump Media & Technology Group stock fell by 6.60% to close at $16.14. The company’s shares hit an intraday high of $17.09 and a low of $16.10. Former President Donald Trump launched a new decentralized finance platform centered around a crypto token.

Tesla Inc.

Tesla’s stock increased by 0.48% to close at $227.87. The electric vehicle maker’s shares reached an intraday high of $234.57 and a low of $226.55. Tesla switched to ‘Full Self-Driving Supervised’ for new cars, sparking a flurry of conspiracy theories.

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Prepare for the day’s trading with top premarket movers and news by Benzinga.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

By Connor Hart

Intuitive Machines on Tuesday said it was awarded a NASA contract worth up to $4.82 billion.

The contract is for communication and navigation services for missions in the near space region, which extends from Earth's surface to beyond the Moon, the Houston space exploration company said.

Shares of the company surged 37% to $7.41 in after-hours trading.

The contract — described as a firm-fixed-price, multiple award, indefinite-delivery/indefinite-quantity task order contract — has a base period of five years, ending Sept. 30, 2029, but includes an additional five-year option period, which would extend its end to Sept. 30, 2034.

The award includes incrementally funded task orders totaling $150 million, with a maximum potential value of $4.82 billion.

As part of this contract, Intuitive will deploy lunar relay satellites and provide communication and navigation services that help NASA's Artemis campaign to establish a long-term presence on the Moon.

"This contract marks an inflection point in Intuitive Machines' leadership in space communications and navigation," Chief Executive Steve Altemus said.

Write to Connor Hart at connor.hart@wsj.com