Stocks making the biggest moves before the hour: Apple, Intel, Alcoa, Micron Technology and more
Check out the companies making headlines in premarket trading. Trump Media and Technology – Shares rose more than 1%, extending Friday's 11% gain. The stock rose as much as 25% in the previous session after Republican nominee and majority owner Donald Trump said Friday afternoon at a press conference at his California golf club that he would “not sell” his stake. Following his comments, trading was halted twice in that session due to volatility. Upstart Holdings – The personal finance stock fell more than 4% after the upstart announced a $300 million debt offering. The company said it will sell the convertible notes due in 2029, and the proceeds will go to certain other bond repurchases and general corporate purposes, among other uses. Apple – The technology stock fell more than 2% after analyst reports that early shipping data may indicate soft demand for the iPhone 16 Pro model. Bausch + Lomb — The contact lens provider jumped 11.5% after the Financial Times reported the company was working on a potential sale. is expected to attract private equity attention, according to Bausch + Lomb FT. Alcoa — The aluminum company popped 1.4% after announcing the sale of its stake in the Ma'aden mining joint venture. Alcoa will give up its 25.1% ownership position for about $1.1 billion. Intel — The semiconductor stock rose 1.3% before the bell. Bloomberg reported late Friday that Intel will qualify for a $3.5 billion grant to make chips for the U.S. military. Micron Technology — The semiconductor stock fell 2.8% after Morgan Stanley cut its price target from $40 to $100. Morgan Stanley's new target implies an upside of less than 10% from Friday's closing level. ASE Technology – The semiconductor packager added 1.7% on the heels of Morgan Stanley's upgrade from equal weight to overweight. The firm said ASE is a defensive name that also has growth potential associated with artificial intelligence. Colgate-Palmolive — The consumer packaged goods maker shed 1.5% as Wells Fargo downgraded from equal weight to underweight. Wells Fargo said growth should be normal after what it called an “epic run.” Mitra , Synchrony Financial — Financial stocks lost about 1% after BTIG went neutral from buy. The firm removed its designation for Ally as the top pick for the second half of the year. Sprouts Farmers Market — The organic-focused retailer advanced 1.2% to outpace the line on the back of Evercore ISI's upgrade. Evercore's ISI said Sprouts should stand to benefit from a broader healthy eating trend. Yelp — shares fell 1.7%. Bank of America initiated coverage of Yelp with an underperform rating, saying declining usage will continue to hurt the company's growth outlook. The Wall Street firm's $30 price objective implies a slide of more than 12% from Friday's close. Zillow — The real estate stock rose more than 2% after an upgrade from Wedbush to outperform. The investment firm said falling mortgage rates combined with growing software and services businesses could fuel a rally for Zillow. — CNBC's Jesse Pound, Sarah Min, Sean Conlon and Samantha Subin contributed reporting
