Check out the companies making headlines in pre-market trading. Nvidia — Shares of Nvidia fell 2% after China said regulators were investigating the chipmaker. According to the Chinese government, the State Administration for Market Regulation is investigating potential antitrust violations. Advanced Micro Devices — Shares of the chipmaker fell more than 1% after Bank of America downgraded its rating to neutral from buy. Analyst Vivek Arya pointed out that as large technology hyperscalers show their preference for Nvidia and other semiconductor manufacturers, they may lose market share. Palantir Technologies — Shares of Palantir Technologies rose more than 6% after the software platform company said it expanded a contract with U.S. Special Operations Command to develop artificial intelligence mission management. The contract is worth nearly $37 million. Interpublic Group of Companies and Omnicom Group – The two companies’ stock prices moved in opposite directions after they announced that Omnicom would acquire Interpublic in a stock-for-stock transaction. The transaction is expected to close in the second half of 2025. Macy’s — Shares of Macy’s rose 3% after activist investor Barington Capital called on the department store chain to change its capital allocation plan and create a real estate unit to maximize the value of its own assets. It also wants Macy’s to re-evaluate alternatives for its Bloomingdale’s and Bluemercury businesses. Dow Jones – Sources say the chemicals maker plans to sell a 40% stake in some of its U.S. Gulf Coast infrastructure assets to funds managed by Macquarie Asset Management for $2.4 billion , the news caused the company’s stock price to rise 4%. Reddit — Shares of the social media platform soared nearly 5% after Morgan Stanley upgraded the company to “overweight” from “equal weight.” Analyst Brian Nowak said he believes Reddit has yet to reach its full potential, especially as U.S. advertising revenue could grow six times faster than its peers. He also expects ad spending to increase as Reddit adopts technology, including end-to-end automation and machine learning modeling. SoFi Technologies — The fintech stock fell 2% after Bank of America downgraded its rating to underperform from neutral. The investment firm said SoFi is “priced to perfection” following its recent gains. PayPal — Shares of the financial technology company rose 2% after Bank of America upgraded the stock to “buy” from “neutral.” The company said its turnaround progress had increased a year after making some management changes. —CNBC’s Fred Imbert, Jesse Pound, Lisa Kailai Han, Sean Conlon, Samantha Subin, Michelle Fox and Hakyung Kim contributed reporting.
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