The stock market is always a rollercoaster ride, with companies making headlines in premarket trading and investors looking for the next big opportunity. Here are some of the top movers and shakers to watch:
1. Krispy Kreme: Shares of Krispy Kreme surged nearly 14% in premarket trading after the company announced that it will sell its donuts in McDonald’s restaurants nationwide by the end of 2026. This partnership will double Krispy Kreme’s current distribution and is set to begin rolling out in the second half of this year.
2. Seagate Technology: The data storage stock saw a 4.1% boost following a Morgan Stanley upgrade to overweight from equal weight. The firm cited improved earnings power due to generative artificial intelligence and other factors.
3. McCormick: Shares of the spice maker moved nearly 4% higher after reporting an earnings and revenue beat for the fiscal first quarter. Adjusted earnings per share exceeded analyst expectations at 63 cents, with revenue hitting $1.6 billion.
4. United Parcel Service (UPS): UPS shares rose 3% after the company released long-term forecasts, projecting consolidated revenue between $108 billion and $114 billion in 2026. In 2023, UPS reported a decline in consolidated revenue to $91 billion.
5. Super Micro Computer: Shares of Super Micro Computer rose 3.1% after JPMorgan initiated coverage of the stock with an overweight rating. The firm named Super Micro Computer a leader in the AI compute market.
6. Micron Technology: The chipmaker saw a 1.5% increase in shares after Mizuho Securities reiterated its buy rating and raised its price target. Analysts believe a strong AI opportunity could lead to better-than-expected sales in late 2024 and into 2025.
7. Taiwan Semiconductor: Shares of Taiwan Semiconductor received a 1% boost after JPMorgan reiterated its overweight rating on the stock. The firm highlighted Taiwan Semiconductor as a key player in the artificial intelligence market.
Keep an eye on these companies as they continue to make waves in the stock market. Stay informed and make smart investment decisions based on the latest news and trends.
Source link
