Premarket movers: Cisco slips; SoundHound AI, Arm rise
Investing.com -- Here are some of the biggest U.S. stock movers prior to the start of New York trading on Thursday. Please check back later for updates:
Cisco Systems (NASDAQ:CSCO) reduced its full-year guidance and detailed plans to cut its global workforce as part of a broader restructuring push, sending shares lower in premarket U.S. trading on Thursday.
Deere & Company (NYSE:NYSE:DE) also slashed its full-year net income outlook, in a sign that elevated interest rates are eating away at farmer demand for high-priced agricultural equipment. Shares in the agricultural equipment maker slipped premarket.
SoundHound AI (NASDAQ:SOUN) and Arm Holdings (NASDAQ:ARM) both jumped after Nvidia (NASDAQ:NVDA) revealed that it had taken stakes in both of the AI-related businesses.
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