Market Movers to Watch Before the Open
As the stock market gears up for another trading day, several companies are making headlines with noteworthy movements. Here’s a breakdown of the key players influencing the premarket landscape.
Ford Motor Company
Ford shares dipped by 2.1% after Jefferies downgraded the stock from "hold" to "underperform." The firm raised concerns regarding an excess inventory issue coupled with valuation worries.
Honeywell
In contrast, shares of Honeywell climbed 3% in premarket trading. The uptick followed the announcement that the company’s board is considering a potential separation of its aerospace division.
Super Micro Computer
Super Micro Computer faced significant losses, with shares dropping nearly 14%. This decline follows a report from Bloomberg indicating that the data center company has engaged investment bank Evercore ISI for assistance in raising equity and debt capital. The situation has become more pressing as Super Micro missed deadlines for filing its annual and quarterly reports, prompting fears of a possible Nasdaq delisting, despite reassurances from CEO Charles Liang.
Microchip Technology
Microchip Technology also experienced a decline, with its stock falling by 2.5% after Bank of America downgraded it from "neutral" to "underperform."
MicroStrategy
In a more positive light, MicroStrategy’s shares increased by 3.8% after the announcement that it would be included in the tech-heavy Nasdaq-100 index.
Axon
Shares of Axon, the weapons manufacturer, rose nearly 3% following news that it will join the Nasdaq-100 later this month, reflecting a favorable shift for the company.
Keysight Technologies
Keysight Technologies saw a 2% increase after JPMorgan upgraded its rating from "neutral" to "overweight." The bank highlighted a cyclical recovery and the company’s recent Spirent acquisition as significant catalysts for this positive outlook.
Micron Technology
Micron Technology’s stock surged by almost 4% as anticipation builds around its upcoming quarterly earnings report on Wednesday. JPMorgan has expressed optimism in expecting strong results.
Broadcom
The semiconductor giant Broadcom saw its shares gain 3%, continuing the momentum from its sharp rise the previous session. Broadcom’s stock surged over 24% after it reported better-than-expected fourth-quarter earnings, pushing its market capitalization above the $1 trillion mark for the first time.
Capri Holdings
Lastly, shares of Capri Holdings increased by 3.3% following a report from Women’s Wear Daily. The retail company is reportedly collaborating with Barclays to explore potential buyers for its Versace and Jimmy Choo brands.
Stay tuned for further updates as these companies navigate their respective challenges and opportunities in the market.
