Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy’s and more
Check out the companies making headlines before the bell. Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy’s — Macy’s stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Apple — Apple slipped about 1% after the European Commission fined the iPhone maker $1.95 billion . The antitrust penalty argued that the company abused its market position for music streaming app distribution, favoring its own products over alternatives from competitors. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Coinbase and Microstrategy rose 6% and 8%, respectively. In the mining group, Marathon Digital and Iris Energy gained 6% each, while Riot Platforms added about 5% and CleanSpark jumped 8%. DoorDash — Shares gained 2.8% after RBC upgraded the food delivery platform to outperform from sector perform. RBC cited DoorDash’s potential for new partnerships for the upgrade, particularly with Lyft. Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%. The companies reported Friday that Boeing is in talks to acquire Spirit Aerosystems following quality issues that have impacted 737 Max jets. Boeing spun off what became the present-day Spirit AeroSystems in 2005. Lyft — The ride-sharing stock popped 6% following an upgrade to outperform from RBC. As catalysts, the bank underscored its confidence in Lyft’s 2024 EBITDA estimates, opportunities for food delivery and Lyft’s position within a “stable duopoly,” Kyverna Therapeutics — The biopharmaceutical stock popped more than 4% after Morgan Stanley initiated coverage with an overweight rating, citing its cell therapy for autoimmune disease. Ferrari — Shares of the luxury automaker fell 2% after a downgrade to sell from neutral by Citi. Ferrari’s stock is trading well above Citi’s price target, leading to valuation concerns for the bank. Li Auto — U.S.-listed shares of the Chinese automaker fell nearly 7%, paring last week’s gains. Li Auto rallied 25% last week after reporting an earnings beat. On Friday, it announced its first fully battery-powered car. On Thursday, it reported disappointing February deliveries. Dutch Bros — Shares of the coffee chain added 2.5% following an upgrade to overweight at Piper Sandler. “Between the equity raise in September, the SSS strength exhibited since that time, and the formal announcement of Mobile Order & Pay testing and implementation which will take place throughout this year; we think now is the right time for us to become more constructive on BROS,” analyst Brian Mullan wrote. — CNBC’s Lisa Han, Fred Imbert, Tanaya Macheel, Hakyung Kim, Jesse Pound and Michelle Fox contributed reporting This post has been syndicated from a third-party source. View the original article here.
