Pre-Bell | S&P 500, Dow Futures Surge to Record High as Trump Wins U.S. Presidency; DJT Surged 27%, Tesla Soared 13%.

Pre-Market Movers
Trump Media & Technology Group $Trump Media & Technology (DJT.US)$ soared 27% in premarket tradingafter the Associated Press called theU.S. electionfor Trump. Trump Media, which is majority owned by former President Donald Trump and is the operator of the Truth Social site, meanwhile, surprised investors with itsthird-quarter resultslate Tuesday. The company posted a loss in the period of $19.2 million and revenue of $1 million. Trump Media’s operating loss in the period was $23.7 million.

Coinbase $Coinbase (COIN.US)$ jumped 12%, MicroStrategy gained 13%, and MARA $MARA Holdings (MARA.US)$ Holdingswas up 10% after Bitcoin $Bitcoin (BTC.CC)$ briefly topped $75,000, a record high, as Trump declared victory in the U.S. election.

Tesla $Tesla (TSLA.US)$ was rising 13%. Elon Musk, Tesla CEO, actively campaigned for Trump, spending millions of dollars to support Trump’s bid. Trump praised Musk early Wednesday. He called Musk “a character, he’s a special guy, he’s a super genius. We have to protect our geniuses—we don’t have that many of them.”

First Solar $First Solar (FSLR.US)$ dropped 15%, Enphase Energy $Enphase Energy (ENPH.US)$ tumbled 12%, and other clean-energy stocks fell with a Trump presidency being considered negative for renewable energy companies.

Super Micro Computer $Super Micro Computer (SMCI.US)$ tumbled 19% in premarket trading after the server maker issued afiscal first-quarter business updateand outlook that disappointed investors and said it was still unsure when it will file its latest annual report that was due in late August. Super Micro estimated first-quarter revenue at $5.9 billion to $6 billion, below analysts’ expectations of $6.44 billion. For the current second quarter ending Dec. 31, the company guided to revenue in the range of $5.5 billion to $6.1 billion in sales versus Wall Street estimates of $6.84 billion.

Nvidia $NVIDIA (NVDA.US)$ eclipsed Apple on Tuesday as the most valuable company in the U.S. Shares of the chip maker, which has experienced a demand surge for its graphics processing units to power artificial-intelligence applications, rose 2.9% on Tuesday and closed with a market cap of $3.432 trillion compared with Apple’s $ $Apple (AAPL.US)$ 3.378 trillion, according to Dow Jones Market Data. In premarket trading Wednesday,Nvidia was up 0.6%, while Apple fell 0.5%.

Microchip Technology $Microchip Technology (MCHP.US)$ reported fiscal second-quarter adjusted earnings that topped expectations but shares fell 2.1% after the company said it expects third-quarter adjusted earnings of between 25 cents and 35 cents a share on net sales of between $1.03 billion and $1.1 billion. Analysts has been calling for profit of 46 cents a share on surveyed by FactSet are looking for revenue of $1.18 billion and adjusted earnings of 46 cents a share.

U.S.-listed shares of Novo Nordisk $Novo-Nordisk A/S (NVO.US)$ , the maker of blockbuster GLP-1 drugs to treat type 2 diabetes and obesity, rose 2.7% after the company saidWegovy sales surged 79% in the third quarter from a year earlier and Ozempic sales jumped 26%.

Exact Sciences $Exact Sciences (EXAS.US)$ sank 27% after the cancer-screening and diagnostics company said it expects fiscal-year revenue between $2.73 billion and $2.75 billion, down from a prior outlook of between $2.81 billion and $2.85 billion.

CVS Health $CVS Health (CVS.US)$ was up 8% in premarket trading afterthird-quarter revenuerose 6.3% to $95.43 billion at the pharmacy and healthcare company, beating analysts’ estimates of $92.72 billion. The earnings report was the first with David Joyner, the company’s newly appointed CEO, at the helm.

Market News
US Supreme Court to hear Facebook bid to escape securities fraud suit

The U.S. Supreme Court is set on Wednesday to consider a bid by Meta's Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user data.

The justices will hear arguments in Facebook's $Meta Platforms (META.US)$ appeal of a lower court's decision allowing the 2018 class action led by Amalgamated Bank to proceed. It is one of two cases coming before them this month - the other one involving artificial intelligence chipmaker Nvidia - that could lead to rulings making it harder for private litigants to hold companies to account for alleged securities fraud.

Bernard Marcus, Co-Founder of Home Depot, Dies at 95

After getting fired together from a hardware business in the 1970s, Bernard Marcus and Arthur Blank set out to build their own retail chain. They started with a few stores in Atlanta and built Home Depot into a national powerhouse that made them both billionaires. Marcus, who retired as chairman in 2002, died at age 95.

The partners founded Home Depot in 1978, creating a chain of warehouse-style stores where forklifts tooted their horns as customers searched for paint, lumber, tools and other hardware stacked high on bare-concrete floors. When they opened their first store, they handed out orange aprons to their staff and predicted that rivals would "choke on our sawdust."