Premarket Movers: Mag 7 stocks are mixed early Wednesday (Alphabet -0.5%, Nvidia +0.4%, Apple +0.1%, Tesla +1.6%, Amazon +0.02%, Microsoft -0.5%, Meta -0.5%) Box (BOX) shares are down 2% after the software company’s first-quarter results were largely in line with expectations. Analysts noted an impact from foreign-exchange issues Shares in rocket, space and satellite communications companies (LUNR +17%, RDW +20%, ASTS +6.1%) are rallying in premarket trading Wednesday, set to extend recent gains. The sector has advanced since SpaceX filed publicly for what stands to be the largest-ever initial public offering. Shares in semiconductor and chip equipment companies (POWI +7.0%, SMTC +5.4%, MRVL +5.7%) are rising again as the breakneck surge in the sector intensifies, sending the market capitalizations of SK Hynix and Micron Technology above $1 trillion. Verra Mobility (VRRM) shares tumble 43% after the mobility software company cut full-year adjusted EPS guidance below analyst estimates and said Avis Budget had terminated its contract, prompting at least three analyst downgrades. Zscaler (ZS) shares sink 22% after the security software company gave a fourth-quarter revenue forecast that was weaker than expected. Evercore downgrades the stock, noting slowing net new customers.(zerohedge)