Apple phones on display at an Apple Store on May 04, 2023 in Miami, Florida.
Joe Raedle | Getty Images
Check out the companies making the biggest leaps in pre-market commerce:
Apple – Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple shares to hold them long. Loop predicts the company will miss its June quarterly revenue guidance, the company said in a note Monday.
Meta – The social media company saw its shares fall more than 1% pre-market after learning that the company had been fined a record 1.2 billion euros ($1.3 billion) by European privacy regulators for the transfer of user data from the EU to the US The Irish Data Protection Commission also told Meta to suspend “any future transfers of personal data” to the US. Meta said he would appeal the decision and the fine.
Micron Technology — Shares of the U.S. chipmaker fell more than 4% after China’s Cyberspace Administration banned operators of “critical information infrastructure” in China from buying products from Micron. Other chip stocks also fell, with Advanced Micro Devices losing 1.4% and Nvidia slipping almost 1%.
PacWest — Shares of the closely watched regional bank rose 3.5% before the bell. The bank sold $2.6 billion worth of construction loans to a subsidiary of Kennedy-Wilson Holdings.
Nike, Foot locker – Shares of Nike and Foot Locker were down 1.5% and 2.4%, respectively, in premarket trading. The move comes after Foot Locker’s lackluster results last week raised concerns among other sportswear retailers. Foot Locker missed the high and low of its fiscal first quarter and lowered its guidance.
DraftKings – Shares of the sports betting stock rose about 3% before the bell. UBS upgraded the shares to a buy from a neutral rating, saying expansion into new markets should fuel growth.
– CNBC’s Tanaya Macheel, Yun Li, Alex Harring, Hakyung Kim, Samantha Subin and Sarah Min contributed reporting.