Apple, Vipshop, Coinbase and others
Take a look at the top companies that made headlines long before the bell rang.
Apple (AAPL) – The company is once again approaching a $3 trillion market value, needing to reach $182.86 per share to achieve that milestone. Apple has announced that it will close all 12 New York City storefronts to indoor traffic because of the Covid-19 Omicron variant. Apple gained 0.3% in premarket actions.
Vipshop Holdings (VIPS) – The China-based e-commerce company’s stock fell 2.4% in the premarket after cutting its current-quarter revenue guidance. Vipshop gave its “latest views on the market, operational conditions”, but did not give any details. A Jefferies report stated that consumers’ demand was likely to be affected by warmer weather and increased Covid-19 use.
R.R. Donnelley (RRD) – R.R. Premarket trading saw Donnelley drop 1.6% after a breach into the technical systems of Donnelley’s business communications and marketing service company. Donnelley stated that it was investigating the matter and has not received any information about client data being compromised.
Coinbase (COIN) – The cryptocurrency exchange operator’s shares dropped 2.2% in the premarket as the price of bitcoin retreated, putting the stock in danger of breaking a four-day win streak that saw it gain 17.7% over that stretch.
Extreme Networks (EXTR) – The cloud computing company’s stock jumped 3.6% in premarket action after Needham raised its price target on the stock to $18.50 per share from $16. Stock closed Monday morning at $16.03.
Howard Hughes (HHC) – The real estate firm has reportedly agreed to sell a controlling interest in the Bank of America Tower in Chicago to private equity firm Oak Hill Advisors for more than $1 billion, according to a Dow Jones report quoting sources familiar with the deal.
Nvidia (NVDA) – The graphics chip maker’s shares added 1.2% in the premarket after rising for the past 4 days in a row and helping to lead the iShares Semiconductor ETF(SOXX), to an all-time high Monday trading. Advanced Micro Devices (AMD) – also a big factor in driving the SOXX higher – added 1% in premarket trading. High demand and shortages have led to increased prices for chip stocks.