Market Insider

In this article

Micron Technology headquarters in Boise, Idaho, March 28, 2021.
Jeremy Erickson | Bloomberg | Getty Images

Check out the companies making headlines in premarket trading.

Micron Technology – Shares jumped more than 6% following news that Samsung Electronics plans to cut memory chip production near term. Many Wall Street analysts said the move could accelerate a recovery within the memory chip industry.

Pioneer Natural Resources – The stock popped 7% before the bell after the Wall Street Journal reported that Exxon Mobil has held informal talks to acquire Pioneer. Exxon shares fell 0.6%.

Tesla – The electric vehicle stock fell nearly 2% before the bell. Tesla said it plans to build a “megapack” battery factory in Shanghai and cut vehicle prices again.

First Republic – Shares fell more than 3% after the regional bank suspended dividend payments on preferred stock.

Taiwan Semiconductor Manufacturing – U.S.-listed shares of the Taiwan-based semiconductor stock fell nearly 1% before the bell after the company reported a monthly drop in revenue.

Capital One Financial — Shares of the financial company fell more than 4% in premarket trading after Capital One said in a filing that Walmart is moving to end its credit card partnership. Capital One said in a filing that Walmart is suing to end the agreement, while Capital One maintains that the retail giant does not have a right to end the agreement early.

Block – The Square and Cash App parent lost nearly 2% in the premarket following a downgrade to market perform from outperform by KBW. The firm said the company is feeling pressure from a growing list of small risks. 

— CNBC’s Alex Harring and Jesse Pound contributed reporting

Articles You May Like

Analyst U-Turn: The Rising Case for Investing in PayPal Stock Now
7 Dividend Stocks That Will Warm Your Heart This Winter
A New Bull Market Is Coming! 3 Stocks Set to Soar Up to 395% Higher
Meta Platforms: The Bull and Bear Case for META Stock
The ‘Korea discount’: Value stock or value trap?