Stocks entered Monday coming off a mostly lower week, with the
closing down 2% for its worst weekly performance since April following a continued rotation out of technology stocks.
These stocks were poised to make moves Monday:
Trump Media & Technology Group
rose 0.5% as shares in the Truth Social parent, which is majority owned by Republican presidential nominee Donald Trump, reacted to the announcement that Biden would be withdrawing from the election in November.
was falling 4.6% in premarket trading, extending losses from a slump Friday of 11% after a software update from the cybersecurity company caused outages for millions of
Windows user across the globe. Flight cancelations caused by the outage continued through the weekend. At least three Wall Street analysts downgraded the stock.
CrowdStrike
’s
decline Friday was its largest percentage decrease since Nov. 30, 2022, when it fell nearly 15%, according to Dow Jones Market Data. Microsoft said Saturday it estimates about 8.5 million computers worldwide were disabled by the outage.
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was down 0.8% in premarket trading. The stock jumped 6.9% on Friday following a report from The Wall Street Journal that said activist investor Elliott Investment Management has accumulated a sizable stake in the coffee chain. Elliott has been pushing
privately on ways to boost its stock price, the Journal reported, citing people familiar with the matter.
rose 2.2% following a Reuters report that said the chip maker was planning a new artificial-intelligence chip for the Chinese market that would be compatible with U.S. export controls.
Communications added 148,000 net retail postpaid phone subscribers in the second quarter, higher than analysts’ estimates. Adjusted earnings in the period of $1.15 a share matched Wall Street predictions but declined from $1.21 a year earlier. Verizon shares, however, fell 4.1% in premarket trading.
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Earnings reports are expected later Monday from SAP, Cadence Design Systems, NXP Semiconductors, Logitech International, and Cleveland-Cliffs.
Reports are expected later in the week from
Tesla
,
Alphabet
,
Visa
,
Comcast
,
International Business Machines
,
AT&T
,
AbbVie
,
RTX
,
and
3M
.
is scheduled to report second-quarter earnings on Tuesday after the stock market closes. Wall Street expects earnings of 61 cents a share from the electric-vehicle maker. Tesla reported better-than-expected second-quarter deliveries in early July. The stock was rising 2% in premarket trading.
U.S.-listed shares of
fell 13% after the carrier said it expects air fares this summer will be “materially lower” than last year. The company also reported first-quarter profit that fell 46% from a year earlier.
rose 3.6% to $164.18 after shares in the apparel retailer were upgraded to Overweight from Neutral at
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and the stock’s price target was boosted to $194 from $167.
Write to Joe Woelfel at joseph.woelfel@barrons.com
