Check out the companies making headlines in premarket trading. Micron Technology — Shares ticked up roughly 1.1% after Bank of America increased its price target on the chipmaker, with the analyst forecasting high-bandwidth memory technology demand will grow to more than $20 billion by 2027. 3M — Shares of the manufacturer rose nearly 3% Monday. 3M completed its spinoff of health-care company Solventum and announced a $10 billion settlement with public water suppliers in a chemicals lawsuit had received final approval. J.B. Hunt Transport , C.H. Robinson — The trucking stocks pulled back after Barclays downgraded shares on Monday. Analyst Brandon Oglenski is concerned that “over-supplied North American truckload capacity is keeping rates down and profitability low for many carriers.” Barrick Gold, Royal Gold — The gold miner and gold royalty company, respectively, rose 2% and 1.7%. The move came as gold climbed to a record high on Monday, boosted by increased expectations that the Federal Reserve could cut rates as early as June. Devon Energy — The oil and gas producer added 1.4% on the back of a Wells Fargo upgrade to overweight from equal weight. Wells Fargo expects the company to turn a corner soon and says the stock is priced at a good entry point for investors. Delta Airlines — Shares climbed about 2% after Morgan Stanley named the Atlanta-based airline stock a top pick for 2024. The firm said Delta’s push into more premium offerings will help it outperform peers. AT & T — Stock in the telecommunications firm pulled back more than 2% after the company said it was investigating a data leak that resulted in more than 7 million customers’ information being published on the dark web. MicroStrategy — Shares of the cloud services firm slipped more than 5% after Executive Chairman Michael Saylor sold nearly 4,000 shares of MicroStrategy stock last week, according to a regulatory filing . Tesla — Stock in the electric vehicle maker rose less than 1% after its previously announced price increase on the Model Y took effect on Monday. UPS — Shares ticked up nearly 2% following news that the shipping company would become the primary air cargo provider for the United States Postal Service. — CNBC’s Lisa Kailai Han, Jesse Pound and Alex Harring contributed reporting
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2024-04-01 12:18:37
