Several stocks experienced notable price movements before Monday’s opening bell, driven by a mix of corporate developments and broader market conditions, CNBC reports.
Here are some of the biggest movers:
Trump Media & Technology – Shares rose more than 1%, building on an 11% gain from Friday. The stock saw significant movement last week, spiking as much as 25% after Donald Trump, the Republican nominee and majority owner, announced that he is not selling his stake during a press conference at his California golf club. Trading was halted twice due to volatility following his remarks.
Upstart Holdings – The personal finance stock fell more than 4% after announcing a $300 million debt offering. Upstart plans to sell convertible notes due in 2029, with proceeds going toward repurchasing other bonds and general corporate purposes.
Apple – The tech giant’s stock dropped more than 2%, following reports from analysts suggesting that early shipping data for the iPhone 16 Pro may indicate weaker-than-expected demand.
Bausch + Lomb – Shares of the contact lens provider jumped 11.5% after the Financial Times reported that the company is exploring a potential sale. The company has reportedly attracted interest from private equity firms.
Alcoa – The aluminum company’s stock rose 1.4% after it announced the sale of its 25.1% stake in the Ma’aden mining joint venture for around $1.1 billion.
Intel – Intel shares gained 1.3% in pre-market trading after Bloomberg reported that the company could qualify for as much as $3.5 billion in grants to manufacture chips for the U.S. military.
Micron Technology – The semiconductor stock slid 2.8% after Morgan Stanley slashed its price target by $40, down to $100. Despite this reduction, the new target still suggests potential for less than 10% upside from Friday’s closing price.
ASE Technology – The semiconductor packaging firm saw its stock rise 1.7% after Morgan Stanley upgraded it to overweight from equal weight, citing growth potential tied to artificial intelligence and its defensive positioning.
Colgate-Palmolive – The consumer goods giant lost 1.5% after Wells Fargo downgraded the stock to underweight from equal weight, stating that growth is likely to normalize following what the firm called an “epic run.”
Ally Financial and Synchrony Financial – Both financial stocks dropped about 1% following downgrades from BTIG to neutral from buy. Ally was also removed from BTIG’s list of top picks for the second half of the year.
Sprouts Farmers Market – Shares of the organic grocery retailer rose 1.2% after Evercore ISI upgraded the stock to outperform, citing the company’s potential to benefit from the growing healthy eating trend.
Yelp – Shares of Yelp fell 1.7% after Bank of America initiated coverage with an underperform rating, citing declining user engagement as a long-term risk to the company’s growth. Bank of America’s price target of $30 implies a potential 12% decline from Friday’s closing price.
Zillow – The real estate platform’s stock climbed more than 2% after Wedbush upgraded it to outperform from neutral. Wedbush noted that falling mortgage rates, combined with growth in Zillow’s software and services business, could drive a rally in the stock.
