Stocks making the biggest moves premarket: CrowdStrike, Bank of America, Nvidia, Verizon and more

Here are the companies grabbing headlines before the market opens today:

CrowdStrike is garnering attention as its cybersecurity shares fell by 4% following Guggenheim’s downgrade from buy to neutral. Guggenheim predicts that the global outage will affect the company adversely.

Nvidia’s shares climbed 2% as it plans to introduce its new Blackwell chips for Chinese consumers, according to sources cited by Reuters. These chips will reportedly comply with U.S. export regulations.

Bank of America lost over 1% in premarket trading in response to Warren Buffett’s Berkshire Hathaway selling 33.9 million of its shares, totaling nearly $1.5 billion. Despite the sale, Berkshire remains the bank’s biggest shareholder, owning a 10.8% stake.

Verizon saw its telecommunications shares decline by 3% as its second-quarter revenue fell short of expectations. Posting sales of $32.8 billion, it did not meet the $33.05 billion FactSet consensus estimate. However, its adjusted earnings per share met projections at $1.15.

Abercrombie & Fitch’s retail shares surged over 3% after receiving an upgrade to overweight from neutral by JPMorgan. The upgrade was attributed to the brand’s improved marketing strategies that have boosted its demand.

Truist Financial’s bank shares dipped 1% as its second-quarter profits fell year-on-year due to a decrease in net interest income, resulting in weaker loan demand and securities sales losses. Higher noninterest expenses resulted from increased employee costs and professional fees.

Apple’s shares increased by 1% as Wells Fargo lifted its price target to $275 from $225, implying a rise of over 20% before the company reports its earnings. Wells Fargo anticipates Apple Intelligence will prompt a significant iPhone upgrade cycle.