Are you interested in what’s happening in the stock market before it opens for the day? Well, in premarket trading, there are several companies making headlines and causing a stir in the market. Here’s a rundown of some of the companies that are driving the premarket action:
1. Chipotle: This fast-casual Mexican chain announced a 50-to-1 stock split, causing shares to rise 6.6% in premarket trading. Deutsche Bank also raised its price target on the stock, citing strong growth prospects.
2. CarMax: Shares of this used car dealer climbed 3% after an upgrade to buy from hold by Needham, who believe the used vehicle market could be on the verge of a multiyear recovery.
3. Riot Platforms: This bitcoin mining company saw its stock rise 5% after an upgrade from JPMorgan. Analysts are bullish on Riot’s potential for growth, citing its unique combination of factors.
4. General Mills: Shares climbed more than 3% after the firm beat Wall Street expectations on revenue and earnings. The company also reaffirmed its full-year outlook.
5. Signet Jewelers: Shares pulled back more than 7% after the company’s first-quarter revenue guidance missed estimates.
6. PDD Holdings: Shares soared more than 17% after the company beat analyst estimates for revenue in the fourth quarter.
7. Mobileye: The stock jumped 4% after Volkswagen announced it will intensify its collaboration with the automotive tech company.
8. Intel: Shares of the chipmaker climbed nearly 3% after the company was awarded as much as $8.5 billion from the White House as part of the CHIPS Act.
9. MicroStrategy Inc.: Shares rose more than 2% after rebounding from a price target slash. The company doubled down on a bitcoin buying spree, leading to a reaffirmed outperform rating.
Premarket trading can provide valuable insights into market trends and investor sentiment. Keep an eye on these companies as they make waves before the market officially opens for the day. Stay tuned for more updates on these and other companies as the trading day progresses.
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