Check out the companies making headlines in pre-market trading. Trump Media & Technology — Shares rose more than 1%, extending Friday’s 11% gain. The stock rose 25% in the previous session after Republican candidate and majority shareholder Donald Trump said at a news conference at a California golf club on Friday afternoon that he “will not sell” his shares. Following his comments, trading was halted twice during the session due to volatility. Upstart Holdings — The personal finance stock fell more than 4% after Upstart announced a $300 million bond offering. The company said it will sell convertible notes due in 2029 and the proceeds will be used to repurchase some other bonds and for general corporate purposes. Apple — The technology stock fell more than 2% after analysts reported that early shipment data could point to weaker demand for iPhone 16 Pro models. Bausch + Lomb – Shares of Bausch + Lomb rose 11.5% after the Financial Times reported the company was considering selling contact lenses. Bausch & Lomb is expected to attract private equity attention, according to the Financial Times. Alcoa — Shares of Alcoa rose 1.4% after the aluminum company announced the sale of its stake in its Ma’aden mining joint venture. Alcoa will give up 25.1% of its ownership for approximately $1.1 billion. Intel — Semiconductor stocks rose 1.3% before the bell. Bloomberg reported late Friday that Intel will be eligible for up to $3.5 billion in grants to make chips for the U.S. military. Micron Technology — Shares of Micron Technology fell 2.8% after Morgan Stanley slashed its price target by $40 to $100. Morgan Stanley’s new target implies an upside of less than 10% from Friday’s closing price. ASE Technology — Shares of the semiconductor packager rose 1.7% after Morgan Stanley upgraded the company to overweight from equal share. ASE is a defensive brand that also has growth potential related to artificial intelligence, the company said. Colgate-Palmolive — Shares of the consumer goods maker fell 1.5% after Wells Fargo downgraded the stock to underweight from equal weight. Wells Fargo said economic growth should normalize after what it called an “epic surge.” Ally, Synchrony Financial — Financial stocks each fell about 1% after BTIG downgraded its rating to neutral from buy. The company also withdrew its designation as Ellie’s top pick for the second half of the year. Sprouts Farmers Market — The organic-focused retailer gained 1.2% as Evercore ISI upgraded its shares to outperform from perform. Evercore ISI says sprouts should be able to benefit from broader healthy eating trends. Yelp — Shares fell 1.7%. Bank of America gave Yelp an underperform rating, saying declining usage will continue to hurt the company’s growth prospects. The Wall Street firm’s $30 price target implies a more than 12% downside from Friday’s closing price. Zillow — The stock rose more than 2% after Wedbush upgraded the stock to “outperform” from “neutral.” The investment firm said lower mortgage rates coupled with growth in its software and services business could fuel Zillow’s gains. —CNBC’s Jesse Pound, Sarah Min, Sean Conlon and Samantha Subin contributed reporting
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved