Paramount Global, Expedia, Nvidia rise premarket; Array, Elf Beauty fall By Investing.com

Investing.com — U.S. stock rose Friday, boosted by solid labor market data suggesting a U.S. recession was unlikely.

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

• Paramount Global (NASDAQ:) stock rose 5.9% after the entertainment company beat profit expectations, with its streaming business reporting its first quarterly profit in three years, while announcing it would cut 15% of its U.S. workforce as it attempts to cut costs.

• Expedia (NASDAQ:) stock surged over 10% after the online travel company beat quarterly expectations even after it warned of a softening in travel demand in July.

• Nvidia (NASDAQ:) stock rose 2.2%, with the chipmaker’s upcoming earnings report likely to be the next key catalyst for Big Tech stocks, according to Barclays strategists.

• Array Technologies (NASDAQ:) stock slid 13% after the solar energy technology maker lowered its annual guidance.

• ELF Beauty (NYSE:) stock slipped 7.6% after the cosmetics company issued cautious guidance even as it raised annual sales and profit forecasts after topping first-quarter estimates.

• SoundHound AI (NASDAQ:) stock rose 0.4% after the artificial intelligence voice provider beat estimates for second-quarter revenue and raised its full-year revenue forecast.

• Take-Two (NASDAQ:) stock climbed 6.5% as it expects net bookings to grow in fiscal years 2026 and 2027, as the videogame publisher gears up for the launch of its long-awaited “Grand Theft Auto VI” next year.

• Walt Disney (NYSE:) stock rose 0.2% ahead of its D23 fan convention later Friday, at which the entertainment giant is set to announce details of coming films.

• Doximity (NYSE:) stock rose 30% after the digital platform for medical professionals reported fiscal first-quarter results that exceeded analyst expectations and provided an upbeat outlook.

• Akamai Technologies (NASDAQ:) stock rose 8.5% after the cloud computing company reported better than expected quarterly results, with revenues passing the billion-dollar mark in the third quarter.