Check out the companies making the biggest moves premarket: Fair Isaac — Shares plunged 18% after Federal Housing Finance Agency director Bill Pulte introduced changes to mortgage pricing. “We are Simplifying Mortgage Pricing following feedback from lenders and consumers. Instead of two separate pricing grids, which makes zero sense, Fannie and Freddie are hereby moving to ONE PRICING GRID with VantageScore joining the existing FICO Classic pricing grid,” Pulte said in a post on X. AMD — The chipmaker traded more than 1% higher after it acquired AI firm World Labs for $8.2 billion . Bloomin’ Brands — The parent of Outback Steakhouse jumped 5% following a JPMorgan upgrade to neutral from underweight. The bank pointed to several changes implemented by the company, including a new steak lineup and a “reduction table to server ratio during peak hours from 6 tables to 4 tables.” SpaceX — Shares rose 1% after TD Cowen initiated coverage of the space company with a buy rating . Analysts pointed to growth in artificial intelligence and space exploration as key drivers for SpaceX. Summit Therapeutics — The drugmaker surged 18% after announcing a $2 billion investment from AstraZeneca. “Summit has established agreements with AstraZeneca for a strategic equity investment in Summit and a clinical collaboration focused on ivonescimab and sonesitatug vedotin (sone-ve),” Summit said in a release. Ivonescimab and sonesitatug vedotin are drugs aimed at treating cancer. Navitas Semiconductor — Shares popped 8% after the company secured a government contract to develop “next-generation” chips. This “marks a significant milestone in advancing ultra-high-voltage silicon carbide (SiC) power devices,” Navitas chief technology officer Siddarth Sundaresan said in a release. CarMax — The used vehicle retailer gained more than 6% after reporting better-than-expected second-quarter results. CarMax earned $1.16 per share on revenue of $7.88 billion. Analysts polled by FactSet expected a profit of 73 cents per share on revenue of $7.09 billion.
Fair Isaac, SpaceX, AMD & more
