These are the Wall Street companies grabbing attention before the opening bell.
1. Nvidia – The semiconductor stock slipped 1.7% following the launch of new artificial intelligence chips on Monday. Several analysts raised their price targets for Nvidia in response to the event.
2. Advanced Micro Devices – The chipmaker fell more than 3% as competitor Nvidia unveiled a new generation of AI chips at a conference in San Jose, California.
3. Unilever – The consumer products maker rose 2.7% after announcing plans to spin off its ice cream unit, which includes brands like Ben & Jerry’s and Magnum, as part of a restructuring that will impact around 7,500 jobs.
4. Coinbase, Riot Platforms – Cryptocurrency stocks dropped sharply on Tuesday as bitcoin experienced a decline in overnight trading. Both Coinbase and Riot Platforms saw their shares fall by about 5%.
5. Disney – Shares of Disney declined slightly following news that filmmaker George Lucas is supporting CEO Bob Iger in the company’s proxy battle with activist investor Nelson Peltz. Lucas, Disney’s largest individual investor, has confirmed his backing to CNBC.
6. Super Micro Computer – The tech stock plummeted over 10% after a filing indicated a new stock offering of two million shares, with Goldman Sachs acting as the underwriter.
7. Tencent Music Entertainment – Shares of the Chinese internet company inched up less than 1% following its fourth-quarter earnings report, which revealed an increase of over 20% in paying users but a decline in overall revenue.
Source (CNBC)
