Stocks Making the Biggest Moves Premarket: Nvidia, Unilever, Coinbase and More

Before the opening bell on Wall Street, several companies are capturing investors' attention:

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Nvidia:The semiconductor giant experienced a slight decline of 1.7% as investors processed the recent unveiling of new artificial intelligence chips on Monday. Despite this, numerous Wall Street analysts raised their price targets for Nvidia subsequent to the event.

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Advanced Micro Devices (AMD):AMD, a prominent chipmaker, saw a decrease of over 3% prior to the market opening, following rival Nvidia's introduction of a fresh generation of AI chips at its developers conference in San Jose, California.

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Unilever:Shares of the consumer products conglomerate surged by 2.7% after announcing intentions to spin off its ice cream division, encompassing brands such as Ben & Jerry’s and Magnum. This decision forms part of a broader restructuring strategy expected to impact approximately 7,500 jobs.

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Coinbase and Riot Platforms:Crypto stocks experienced significant declines on Tuesday, correlating with a drop in bitcoin prices during overnight trading. Both Coinbase and Riot Platforms witnessed a decline of approximately 5%.

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Disney:Disney shares exhibited a marginal decrease of less than 1% subsequent to reports that filmmaker George Lucas is lending support to Disney CEO Bob Iger amidst the company’s proxy battle with activist investor Nelson Peltz. Lucas, reportedly the largest individual investor in Disney, has thrown his weight behind Iger, according to multiple sources.

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Super Micro Computer:The technology company observed a substantial drop of over 10% following the revelation of a new stock offering involving two million shares. Goldman Sachs has been enlisted as the underwriter for this offering.

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Tencent Music Entertainment:Shares of the Chinese internet corporation experienced a modest uptick of less than 1% following the release of its fourth-quarter earnings report. Although Tencent Music reported a more than 20% increase in paying users year over year, overall revenue saw a decline.

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dLocal:The packaged software company witnessed a notable decline of 13% after failing to meet earnings expectations. dLocal reported earnings per share of 10 cents for the fourth quarter, falling short of the 15 cents projected by analysts surveyed by StreetAccount. Additionally, the company’s full-year revenue guidance was at the lower end of Wall Street's expectations.

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