The companies making headlines in premarket trading are:
1. Nvidia: Stock in the chipmaker slipped less than 1% before the opening bell, entering correction territory with a 10% drop from its all-time high.
2. Alibaba Group: The China-based e-commerce stock rose nearly 3% on reports of co-founder Jack Ma praising the company’s management in an internal memo.
3. Albemarle: Shares gained about 2% after being upgraded to buy by Bank of America due to rising lithium prices.
4. GoodRx: Shares climbed nearly 4% after being upgraded to overweight by KeyBanc on strong subscriber growth forecast.
5. Deckers Outdoor: Shares slipped over 2% after being downgraded to hold by Truist over concerns of declining demand.
6. Delta Air Lines: The air carrier gained 4% premarket after posting adjusted earnings per share of 45 cents for the first-quarter, beating expectations.
7. Taiwan Semiconductor Manufacturing: Shares rose 2% after strong demand for AI-powering chips helped increase monthly revenue by 34.3% year-on-year in March.
Several companies are making headlines in premarket trading. Nvidia’s stock slipped less than 1% before the opening bell, entering correction territory with a 10% drop from its all-time high. Alibaba Group saw a nearly 3% boost after co-founder Jack Ma praised the company’s management and discussed the potential for AI in an internal memo. Albemarle’s shares rose 2% after an upgrade from Bank of America, citing rising lithium prices. GoodRx gained nearly 4% after receiving an overweight rating from KeyBanc due to strong subscriber growth forecasts. Deckers Outdoor’s stock dropped over 2% following a downgrade from Truist over concerns about declining demand for core products. Delta Air Lines saw a 4% increase after beating earnings expectations for the first quarter, with CEO Ed Bastian noting strength in leisure and business travel. Taiwan Semiconductor Manufacturing’s shares rose 2% on strong demand for AI chips, leading to a 34.3% increase in monthly revenue year-on-year in March.
Source link