Core Announcement
Nvidia shares fell more than 6% in pre‑market trading after reports that its board is weighing the removal of CEO Jensen Huang. The board’s consideration follows revelations of two extramarital relationships, one allegedly involving a suspected Chinese intelligence asset. Directors are expected to meet as early as Wednesday to discuss Huang’s future and any potential conflicts of interest or security risks. Bloomberg reported that Nvidia has engaged an external firm to identify a possible successor, though no formal board decision or official statement has been released.
Semiconductor Sector Impact
The leadership uncertainty at Nvidia dragged down other U.S.-listed semiconductor stocks. SK Hynix fell 3.2%, Micron Technology declined 2.7%, and Intel, Marvell Technology, and Lam Research each slipped about 1.9% in pre‑market trading. Conversely, Advanced Micro Devices rose 7.3% and Broadcom gained 4.0%, reflecting divergent investor sentiment within the chip sector.
Eli Lilly China Approval
Eli Lilly’s oral weight‑loss pill, orforglipron, received approval from China’s drug regulator, prompting a 2.8% rise in the company’s shares. The approval positions Lilly ahead of Danish rival Novo Nordisk in the world’s second‑largest pharmaceutical market. The oral therapy will compete with once‑weekly GLP‑1 injectable products from Novo Nordisk, Pfizer and China’s Innovent Biologics. China’s National Health Commission warned that the proportion of overweight or obese individuals could exceed 65% by 2030, underscoring the market’s scale.
MSCI Index Removal
Strategy shares dropped 5% after index provider MSCI announced the removal of Michael Saylor’s company and other firms from its global indexes. MSCI said the excluded entities more closely resemble investment funds, which are barred from its benchmarks. The provider had previously proposed excluding digital‑asset treasury companies whose digital‑asset holdings exceed 50% of total assets, before expanding the review to other non‑operating, fund‑like companies.
Aevex Corp Q3 Results
Aevex Corp, a Solana Beach‑based defense‑technology firm, saw its stock surge 12.1% in pre‑open trading after reporting third‑quarter revenue of $189.7 million, a 56.5% year‑over‑year increase that comfortably beat analyst estimates. The company also raised its full‑year 2026 financial outlook by a wide margin. CEO Roger Wells said the results reflected strong revenue and adjusted EBITDA growth, along with margin expansion, and expressed confidence that the momentum from Wednesday’s after‑hours session would continue into Thursday’s pre‑market.
Futures Data
U.S. stock index futures were mixed on Thursday. At 05:32 ET, Dow E‑minis were up 61 points (0.12%), S&P 500 E‑minis fell 24.25 points (0.31%), and Nasdaq 100 E‑minis dropped 181 points (0.64%).