Apple phones on display at an Apple store on May 04, 2023 in Miami, Florida.
Joe Raedle | Getty Images
Check out the companies making the biggest moves in premarket trading:
Apple – Shares of the iPhone maker fell about 1% premarket after Loop Capital down Apple stock is held from purchase. Loop predicts the company will miss its June quarterly revenue guidance, the company said in a letter Monday.
Meta — The social media company saw its shares fall more than 1% in premarket after news that the company fined a record 1.2 billion euros ($1.3 billion) by European privacy regulators over the transfer of EU user data to the US The Irish Data Protection Commission also told Meta to suspend “any future transfer of personal data” to the US Meta said it will appeal to decision and the fine.
Micron Technology — Shares of the US chipmaker sank more than 4% after China’s Cyberspace Administration barred Chinese “critical information infrastructure” operators from buying products from Micron. Other chip stocks also fell, with Advanced Micro Devices shedding 1.4% and Nvidia falling nearly 1%.
PacWest – Shares of the closely watched regional bank rose 3.5% before the bell. The bank sold $2.6 billion worth of construction loans to a subsidiary of Kennedy-Wilson Holdings.
Nike, Foot locker – Shares of Nike and Foot Locker fell 1.5% and 2.4%, respectively, in premarket trading. The move after Poor results at Foot Locker last week prompted concern of other sportswear retailers. Foot Locker missed both the top and bottom lines in its first fiscal quarter, and lowered its guidance.
DraftKings – Shares of the sports betting stock rose about 3% before the bell. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should improve growth.
Norfolk South, CSX — Railways shares added 1.8% and 1.5%, respectively, in premarket trading. Formerly Norfolk Southern upgraded to Citi to buy from neutral, while Wells Fargo upgraded the stock to overweight from equal weight. CSX was also upgraded by Citi to buy.
Catalent – Shares of the pharmaceutical company fell 2.5% Monday morning. Catalent was downgraded by JPMorgan to neutral from overweight on Friday, with the Wall Street firm citing current productivity issues and macro headwinds among its reasons. Shares advanced 15.6% in the previous trading session after the company shared a business update.
– CNBC’s Tanaya Macheel, Yun Li, Alex Harring, Hakyung Kim, Samantha Subin and Sarah Min contributed reporting.