A DoorDash Inc. delivery bag sits on the floor of Chef Geoff’s restaurant in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Images
Check out the companies making headlines when it comes to pre-market trading.
PayPal – Shares of the payments giant fell more than 1% premarket after MoffettNathanson downgraded the stock’s performance from market outperformance and cut his price target 10 days before the next CEO of PayPal’s Alex Chriss doesn’t take the helm. The company said it was excited about the new leadership, but that Chriss could be in for a rocky start after a difficult 18 to 24 months. MoffettNathanson sees the potential for further cuts to his estimates.
PorteDash — Shares added nearly 2% after being upgraded by Mizuho Securities to buy from neutral on Sunday. The Wall Street firm said its strong market share and strong consumer spending on groceries should help the delivery company beat its forecasts in the second half.
Micron technology — The stock gained about 1.6% premarket after Deutsche Bank upgraded the memory and storage solutions company to buy on Sunday, and also raised its price target. The company said Micron’s pricing power with solid-state direct RAM is reaching an inflection point and could push the company to beat first-quarter expectations.
Arm Holdings — Shares of the semiconductor company fell 3.7% in premarket trading as the newly public Arm tries to regain its market highs. Bernstein kicked off coverage Monday with an underperform rating, saying it was too early to say Arm would be a winner in AI.
— CNBC’s Tanaya Macheel, Jesse Pound and Michelle Fox Theobald contributed reporting.