Stocks making the biggest moves premarket: Intel, Pinterest, Palantir and more

Don’t miss the companies that are dominating the headlines prior to today’s opening bell.

Intel, the renowned chipmaker, saw a 4% jump upon revelations that Apollo Global Management, an esteemed asset management firm, proposed an equity-like investment, potentially reaching a whopping $5 billion in Intel. Bloomberg News broke the news on Sunday, with CNBC later verifying on Friday that Qualcomm had recently expressed interest in acquiring Intel. Despite experiencing a more than 50% decrease in value this year, Intel celebrated achieving an all-time high during the summer of 2000.

Ciena, a key player in the networking software industry, observed a robust increase of over 4% due to a double upgrade from Citigroup. The transition from sell to buy signals a positive shift in the wider telecommunications/cable market. Anticipated bookings growth for the upcoming year is a promising sign.

Constellation Energy, a leading nuclear power provider, saw its shares grow about 3% following Morgan Stanley’s hike in its 12-month price estimate which projects an almost 23% upside. Morgan Stanley applauds Constellation’s strategic plans to reactivate the Three Mile Island nuclear plant in Pennsylvania, aiming to meet power needs of Microsoft data centers for potential growth.

Pinterest, the popular social media site, experienced a surge in shares of over 2%. This bullish outlook is owed to Deutsche Bank’s decision to begin research coverage with a buy rating. The bank acknowledges the platform’s growing user relevance and forecasts substantial revenue growth in the future.

General Motors experienced a dip in shares by 2%, post a downgrade by Bernstein of the Chevrolet and Cadillac manufacturer from outperform to market perform. This comes along with a downward revision of its price target, as the Wall Street firm flags mounting concerns over rising U.S. inventory levels and challenges in GM’s overseas operations.

Palantir, the titan in data analysis software platforms, experienced a slight setback with a decline in shares by over 1%. The tumble comes after Raymond James downgraded the company’s shares to market perform, reflecting concerns about a high valuation given Palantir’s previous exceptional performance.

Micron Technology, the Boise, Idaho-based DRAM chips producer, enjoyed a more than 1% boost after JPMorgan reaffirmed its positive view with an overweight rating just before Micron’s earnings release scheduled for Wednesday. Analyst Harlan Sur expects results that align with “recently lowered consensus estimates,” buoyed by strong demand within the artificial intelligence sector.