A look at the top gainers in premarket trading: U.S. Steel Corp. – Shares of U.S. Steel fell 7% after President-elect Trump said late Monday that he would block Japan’s Nippon Steel Co. from acquiring the steelmaker. Nippon Steel reached an agreement to acquire U.S. Steel in late 2023, but has since faced political opposition. AT&T — The mobile phone stock rose nearly 4% after saying it expects free cash flow to exceed $18 billion in 2027. . Axon Enterprise — The maker of Taser guns used by police departments rose nearly 2% after Morgan Stanley upgraded the company to overweight from equal weight. The investment bank said artificial intelligence could help expand Axon Enterprise’s total addressable market. Synchrony Financial – Shares of the Stamford, Connecticut-based credit card issuer rose more than 1% after Wells Fargo upgraded the stock to overweight from equal weight. The bank said Synchrony is trading at a lower valuation and could benefit from regulatory changes under the incoming Trump administration Upstart Holdings – shares rose 1.5% in the artificial intelligence lending market after Redburn Atlantic upgraded its buy rating. The company sees a huge market opportunity in the integration of Upstart’s artificial intelligence and scalable technology platforms. Credo Technology Group — Shares of Credo Technology Group soared 32% late Monday after the technology company beat analysts’ profit expectations and issued strong revenue guidance for the quarter. Fiscal second-quarter adjusted earnings were 7 cents per share on revenue of $72 million, according to LSEG, while Wall Street expected earnings of 5 cents per share on revenue of $67 million. Zscaler — The cloud security company’s fiscal second-quarter revenue forecast was nearly in line with analysts’ expectations, sending shares down 7% in early trading. Zscaler reported better-than-expected adjusted earnings and revenue for its fiscal first quarter. CVS Health — Shares of CVS Health rose 1.4% after Deutsche Bank upgraded the pharmacy chain and pharmacy benefit manager to buy from hold. The investment bank believes profits will recover and top consensus forecasts. Cleanspark — Shares of Cleanspark fell nearly 8% after the Bitcoin miner reported fiscal 2024 revenue that missed expectations. Revenue was $379 million, missing consensus estimates of $395 million, according to FactSet. Super Micro Computer – Shares of the maker of artificial intelligence servers rose nearly 8%, after rising 29% on Monday, when a special committee of the board of directors said it found no evidence of wrongdoing and “no significant concerns about integrity.” “. —CNBC’s Jesse Pound, Hakyung Kim, Sarah Min and Pia Singh contributed reporting.
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