Premarket movers: Nvidia leads Mag 7 names lower after Oracle’s report dampened risk appetite in the AI sector (Apple +0.4%, Alphabet -0.2%, Amazon -0.6%, Microsoft -0.5%, Tesla -0.6%, Meta -0.6%, Nvidia -1.4%) Ciena (CIEN) soars 11% after the maker of equipment used by telecom companies posted reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate. Diamond Hill Investment Group Inc. (DHIL) shares are halted after Genstar Capital-backed First Eagle Investments agreed to buy the boutique asset-management firm for $473 million in cash. Eli Lilly & Co. (LLY) gains 2% after a next-generation obesity shot helped patients lose almost a quarter of their body weight in 68 weeks. Gemini Space Station Inc. (GEMI) rises 15% after its application for a derivatives exchange was approved by the Commodity Futures Trading Commission, in a move that will allow the company to join the fast-growing field of prediction markets. Oracle (ORCL) falls 11% after the company forecast 3Q cloud sales growth below analyst estimates, raising concerns that supply constraints are preventing the cloud-infrastructure provider from converting its large backlog to actual revenues. Oxford Industries (OXM) sinks 21% after the owner of the Tommy Bahama apparel brand cut its adjusted earnings per share forecast for the full year, missing the average analyst estimate. The fourth-quarter net sales outlook also missed consensus. Planet Labs (PL) gains 17% after the satellite-imaging firm raised its sales and margin outlook, boosted by new and expanded contracts. Recent wins included an expansion to a contract with NATO and a deal with National Geospatial-Intelligence Agency. (source BBG)