Stock Groups

Nvidia, Boeing, Micron and others

[ad_1]

See which companies are making the headlines even before the bell rings.

DiDi Global (DIDI), Alibaba (BABA), JD.com (JD), Pinduoduo (PDD) – China-based stocks listed in the U.S. are staging strong rallies in premarket trading, helped by state media reports that the Chinese government will take steps to support the markets and the economy, and that the U.S. and China are progressing toward an agreement on regulatory requirements for those companies. Didi rose 36.7% during the premarket. Alibaba rose 19.2% and JD.com rallied 21% while Pinduoduo surged 32.5%.

Nvidia (NVDA) – The graphics chipmaker’s stock added 2.3% in the premarket after Wells Fargo added it to its “signature picks” list. Nvidia will make upbeat statements at the investor day. Wells Fargo also noted that Nvidia’s recent market downdraft helped to create a positive risk/reward profile.

Boeing (BA) – Boeing gained 2% in premarket trading after Baird declared the stock a “bullish fresh pick” following a recent sell-off and noted that 737 MAX deliveries to China are close to resuming.

Pfizer (PFE), BioNTech(BNTX – Pfizer has asked FDA for approval of a second dose of Covid-19 booster vaccine. BioNTech is their partner. The FDA could make a decision in time to allow for an autumn vaccine campaign. BioNTech saw a 4.4% increase in premarket trading while Pfizer experienced a 0.6% rise.

Micron Technology (MU) – Micron rallied 4.7% in the premarket following a Bernstein double upgrade to “outperform” from “underperform”. Bernstein claimed that there won’t be any major shortages or destruction of demand for memory chips due to the conflict in Ukraine. He also pointed out the recent selling in Micron.

Spotify (SPOT) – The streaming services company signed a stadium and shirt sponsorship deal with Spanish soccer team FC Barcelona, with the Spotify brand on uniform shirts for the next four seasons. Premarket activity saw Spotify rise 2.6%

NortonLifeLock (NLOK) – NortonLifeLock’s $8.6 billion deal to buy British cybersecurity rival Avast may get an in-depth probe by UK regulators, who say the deal raises competitive concerns. NortonLifeLock stated that it doesn’t intend to present any possible remedies. The stock fell 5.5% during the premarket.

Lands’ End (LE) – The apparel retailer missed estimates by 10 cents with quarterly earnings of 21 cents per share, while revenue also fell short of Street forecasts. Due to rising costs and ongoing supply chain problems, Lands End gave a weaker than expected forecast. In premarket trading, Lands’ End fell 9.5%.

Shoe Carnival (SCVL) – Shoe Carnival shares slid 3.3% in the premarket despite an upbeat quarterly report which saw it beat estimates on both the top and bottom lines. The shoe retailer issued a full-year revenue and profit forecast range that was largely – but not completely – above current Street forecasts. Shoe Carnival also reported a 29% increase in dividends.

[ad_2]