Welcome to Extreme Investor Network, where we provide you with the latest and most valuable information in the world of finance. Today, we are diving into the companies making headlines in premarket trading.
Trump Media & Technology has seen a rise of more than 1%, extending the 11% gain from Friday. With Donald Trump declaring that he is not selling his stake, the stock experienced a significant jump, leading to trading being halted twice due to volatility.
Upstart Holdings, a personal finance stock, fell more than 4% after announcing a $300 million debt offering. The company plans to sell convertible notes due in 2029 to fund various corporate purposes.
On the technology front, Apple saw a drop of more than 2% following reports of softer demand for iPhone 16 Pro models. Meanwhile, Bausch + Lomb, the contact lens provider, surged 11.5% after reports of a possible sale, catching the eye of private equity investors.
Alcoa, the aluminum company, gained 1.4% after announcing the sale of its stake in the Ma’aden mining joint venture for around $1.1 billion. Intel also rose 1.3% after news that it could qualify for grants up to $3.5 billion to make chips for America’s military.
In the semiconductor sector, Micron Technology slid 2.8% after a price target cut by Morgan Stanley, while ASE Technology rose 1.7% following a Morgan Stanley upgrade to overweight, citing growth potential tied to artificial intelligence.
Consumer packaged goods maker, Colgate-Palmolive, shed 1.5% after a Wells Fargo downgrade, while financial stocks Ally and Synchrony Financial each lost about 1% following BTIG downgrades to neutral.
Sprouts Farmers Market, the organic-focused retailer, advanced 1.2% after an upgrade to outperform from Evercore ISI, citing a broader healthy eating trend. Conversely, Yelp shares dropped 1.7% after a Bank of America coverage initiation with an underperform rating.
Finally, Zillow experienced a rise of more than 2% after an upgrade to outperform from Wedbush, highlighting the potential for a rally with falling mortgage rates and a growing software and services business.
Stay tuned to Extreme Investor Network for more insightful updates and analysis in the finance world.