Check out the companies making the biggest moves in premarket trading: Nvidia — President Donald Trump said the U.S. will allow the tech giant to ship its H200 artificial intelligence chips to China and elsewhere. The U.S. will get a 25% cut for the sales, which are only allowed for approved customers. Shares gained 1%. Ares Management — The stock jumped 8.6% following the announcement that the alternative investment manager is joining the S & P 500, effective Thursday. Ares will replace Kellanova, which is being acquired by Mars. CVS — The drugstore giant saw shares rise more than 2% after the company provided 2026 profit guidance that came above Wall Street estimates and this year’s projected earnings, marking a sign of steady progress in its turnaround plan. Toll Brothers — The homebuilder reported an earnings miss for its fourth quarter, sending shares down 4%. Toll’s adjusted earnings came in $4.58 per share, versus the $4.89 a share expected from analysts polled by LSEG. AeroVironment — The drone maker rose 2% after it was awarded a $874.26 million contract from the Army for unmanned aerial systems and counter-UAS systems. Home Depot — Shares were down more than 1% after the home improvement giant issued weaker-than-expected earnings growth guidance for 2026. The company sees adjusted diluted earnings expanding in a 0%-4% range. Analysts polled by FactSet expected an expansion of 5.2%. Alexander & Baldwin — The Hawaii-based real estate investment trust soared nearly 38% after it said it is being taken private in a $2.3 billion transaction. Viking — The cruise stock added 2% following an upgrade to a buy rating from Goldman Sachs. The bank believes that Viking’s differentiated geographic exposure and higher-income demographic could hedge against broader choppiness within the cruise sector, while a potential future buyback program could also unlock additional value. On the other hand, Norwegian Cruise Line slipped nearly 2% after Goldman Sachs downgraded shares to neutral. AutoZone — Shares are down nearly 2% after the automotive-parts retailer reported worse-than-expected results for its first fiscal quarter. AutoZone posted earnings of $31.04 per share on revenue of $4.63 billion. Analysts polled by LSEG expected a profit of $32.51 per share on revenue of $4.64 billion. — CNBC’s Yun Li, Fred Imbert, Lisa Han and Liz Napolitano contributed reporting.
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