US PRE-MARKET MOVERS: Mag-7, US tech names, QCOM, IBM, ORCL, PFE, ACN, AMC, TGT, NKE, APO

ES -1.3% NQ -2.7% RTY -1.4%                                                                               Mag 7: NVDA -2.3% TSLA -2.2% GOOGL -1.7% AAPL -0.9% META -0.8% AMZN -0.8% MSFT +1.3% Tech sell-off: South Korean stocks fell w/ KOSPI index closing w/ losses c. 10%; SK Hynix fell >11% & Samsung Electronics >8% SNDK -8.5% AMAT -7% STX -7% LRCX -6.5% INTC -6.2% MU -6% AMD -6% QCOM -6% SMCI -4.5% QCOM in advanced discussions to acquire AI chip startup Modular for ~$4bln IBM +4.5%: Upgraded at JPM; also, Trump positively mentioned CEO ACN +2.5%: To boost share buyback by $2bln TGT +1.2%: Upgraded at Wolfe APO -1.5%: Private credit fund caps redemptions at 5% after investors sought to withdraw c. 16.8% NKE –1.5%: Downgraded at Evercore ORCL -2.2% Total workforce declined 13% or c. 21k in FY26 AMC -18%: To raise $200mln in common stock offering