| Intel Corp (INTC)+3.16%Trading higher premarket after the Wall Street Journal reported that Qualcomm has approached the company to explore a potential acquisition. CEO Cristiano Amon is reportedly personally involved in the early-stage negotiations, though no formal offer has been made. Qualcomm is particularly interested in Intel’s PC design unit, but is evaluating the entire portfolio of the chipmaker. Intel rallied and halted to the upside when the report was initially released on Friday afternoon. |
| Microsoft Corp (MSFT)-0.56%Trading lower premarket after being downgraded from Buy to Neutral by DA Davidson, though the firm kept its previous price target of $475. The analyst noted that competition in AI and cloud has caught up, reducing justification for Microsoft’s premium valuation. DA Davidson further opined that Amazon’s AWS and Google’s GCP are now matching Azure’s growth, diminishing Microsoft’s lead in both the cloud and AI code generation businesses. |
| EV Companies+1.24%Reuters reported that the U.S. Commerce Department is set to propose banning Chinese software and hardware in connected and autonomous vehicles due to national security concerns, focusing on data collection and potential foreign manipulation of vehicles. This move follows recent tariff hikes on Chinese imports, including electric vehicles and key EV components, escalating U.S. restrictions on Chinese automotive technology. American EV companies like Tesla and Rivian are trading higher following the report, while Chinese EVs are trading lower premarket.TSLA, RIVN, NIO, XPEV, LI |
| Palantir Technologies Inc (PLTR)-1.21%Trading lower following a downgrade from Outperform to Market Perform by Raymond James. The analyst cited the need for the stock to consolidate its significant gains and grow into its high valuation. Despite expressing enthusiasm for Palantir’s long-term AI positioning, Raymond James noted that the firm’s shares have risen over 120% year-to-date and six-fold in two years, making it the richest software stock by valuation. Palantir is set to begin trading as part of the S&P 500 as of the opening bell on Monday, September 23. |
| Crypto Stocks+1.58%Trading higher as a group in tandem with strength in Bitcoin and Ethereum, with Bitcoin trading just below $63,500 on Monday morning and Ethereum trading around $2650. MicroStrategy is leading the group after Barclays and TD Cowen raised their price targets for the stock to $173 and $200, respectively.MSTR, MARA, RIOT, BITO, IBIT, ETHE, COIN, CLSK, HUT |
| Super Micro Computer Inc (SMCI)-1.37%Trading lower premarket after receiving a notification from Nasdaq stating it is not in compliance with listing rule 5250(c)(1) due to a delay in filing its Annual Report for the period ending June 30, 2024. The company’s Form 10-K, originally due on August 29, 2024, was delayed, and a Form 12b-25 was filed on August 30, 2024 to extend the deadline. Super Micro announced the delay in filing on August 28, the day after Hindenburg published a short report alleging accounting manipulation and governance concerns at the company. |
| GameStop Corp (GME)-1.51%Trading lower premarket after gaining 12% during Friday’s session. The stock receives steady attention from retail investors and has a short float of approximately 10.1%. |
| Nuclear Power Stocks+2.03%Continuing to trade higher as a group after rallying on Friday. Friday’s strength was attributed to sympathy with Constellation Energy, which announced the signing of a 20-year power purchase agreement with Microsoft. Constellation jumped by more than 20% during Friday’s session, and Keybanc raised its price target for the stock from $230 to $265 on Monday morning.CEG, NNE, SMR, VST |
| Nuvve Holding Corp (NVVE)+81.38%Gapping up on no apparent catalyst. The stock, which underwent a 1-for-10 reverse split on September 17, has a market capitalization of $2.56 million and a float of 489,560 shares. |
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