Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy’s and more
Here’s your pre-market headline roundup!
Super Micro Computer and Deckers Outdoor are set to join the S&P 500, pushing their share prices up by 12% and 5% respectively. They will be replacing Whirlpool and Zion Bancorp, which will move to the S&P MidCap 400 index from March 18.
Macy’s shares soared by roughly 17% after Arkhouse Management increased their buyout offer for the retail giant to $24 a share, valuing it at $6.6 billion.
Apple shares dipped by 1% as the European Commission fined the tech behemoth $1.95 billion for abusing its dominant market position and favoring its own music streaming products over rivals.
Crypto-related stocks like Coinbase and Microstrategy saw a boost in premarket trading, climbing 6% and 8% respectively as Bitcoin touched a new two-year high.
DoorDash’s shares climbed 2.8% as RBC upgraded its rating, citing its potential for new partnerships, especially with Lyft.
Shares of Spirit AeroSystems went up nearly 3% on news that Boeing is in negotiations to acquire it.
Lyft’s shares jumped 6% after receiving an upgrade from RBC, emphasizing its estimated 2024 EBITDA and opportunities in food delivery.
Kyverna Therapeutics saw a 4% increase after Morgan Stanley initiated coverage with an overweight rating for its auto-immune disease cell therapy.
Ferrari’s shares took a hit, dropping 2% as Citi downgraded it to sell due to overvaluation concerns.
U.S.-listed shares of Chinese automaker Li Auto dropped nearly 7%, offsetting last week’s gains after announcing its first fully battery-powered car and disappointing February deliveries.
Finally, shares of Dutch Bros rose 2.5% as Piper Sandler upgraded it to overweight, citing successful equity raise, strong SSS performance, and upcoming implementation of Mobile Order & Pay.
