MU, MMM, T, DAL and more

Check out the companies in the news during premarket trading. Micron Technology saw a 1.1% increase after Bank of America raised its price target, predicting growth in high-bandwidth memory technology demand. 3M saw a 3% rise as it completed its spinoff of health-care company Solventum and settled a $10 billion lawsuit with public water suppliers. Trucking stocks J.B. Hunt Transport and C.H. Robinson fell after a downgrade from Barclays, citing concerns about over-supplied capacity. Barrick Gold and Royal Gold rose 2% and 1.7% respectively as gold prices hit a record high. Devon Energy rose 1.4% after a Wells Fargo upgrade, while Delta Airlines climbed 2% as a top pick for 2024. AT&T dropped 2% after a data leak investigation, while MicroStrategy fell 5% after a stock sale. Tesla rose less than 1% after a price increase, and UPS saw a 2% increase following news of becoming the primary air cargo provider for the USPS.

Several companies are making headlines in premarket trading. Micron Technology saw a 1.1% increase in shares after Bank of America raised its price target, predicting high-bandwidth memory technology demand to reach over $20 billion by 2027. 3M’s shares rose by almost 3% after completing a spinoff of health-care company Solventum and settling a $10 billion lawsuit with water suppliers. J.B. Hunt Transport and C.H. Robinson’s shares pulled back following a downgrade from Barclays, citing concerns about over-supplied North American truckload capacity. Barrick Gold and Royal Gold’s shares rose as gold hit a record high on expectations of a Federal Reserve rate cut. Wells Fargo upgraded Devon Energy, leading to a 1.4% increase in shares. Delta Airlines saw a 2% climb after being named a top pick for 2024 by Morgan Stanley. AT&T’s shares dropped over 2% as the company investigated a data leak. MicroStrategy’s shares slipped after its Executive Chairman sold some stock. Tesla’s stock slightly rose after a price increase on the Model Y took effect. UPS shares increased by nearly 2% as news broke that they would become the primary air cargo provider for the USPS.

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