Check out the companies making headlines before the bell. Google — Alphabet Class A shares were trading 5.6% higher following a Bloomberg report that said Apple is in talks with Google to license and build its Gemini artificial intelligence engine into future iPhones. Super Micro Computer — Shares gained 2.5%. The technology firm, which makes servers that help with artificial intelligence applications, joins the S & P 500 on Monday before trading begins. The stock has jumped more than twentyfold in the past two years and is up 276% year to date. Nvidia — The stock moved 2.7% higher ahead of its highly anticipated GTC Conference , where the chipmaker is expected to announce various AI updates. Earlier Monday, HSBC upped its price target to $1,050 from $880 a share, saying it is encouraged by Nvidia’s AI product roadmap, which could one day own “the entire value chain.” HashiCorp — Shares jumped 9.8% on news that the San Francisco-based software provider has been considering options including a sale. Bloomberg reported the development, citing individuals familiar with the matter. Taiwan Semiconductor Manufacturing — The U.S.-listed shares gained 1.5% after a Reuters report , citing sources familiar, said Taiwan Semiconductor is deliberating building advanced packaging capacity in Japan. Tesla — Shares rose 3.2% even after Goldman Sachs cut its price target on Tesla by $30 to $190 as the electric vehicle maker faces issues with rising competition and slower demand. The firm maintained that Tesla is “well positioned for longer-term growth,” however, citing the company’s strong position in EV and clean energy markets. PepsiCo — Shares of the beverage company rose 1.2% after Morgan Stanley upgraded the stock to overweight from equal weight. PepsiCo’s fundamentals are set to rebound in the second half of the year, according to the bank’s analysts. — CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Min, and Michelle Fox Theobald contributed reporting.
Stocks making the biggest moves premarket: Google, HashiCorp, Nvidia and more
Mar 18, 2024
