Micron Technology Headquarters Boise, Idaho, March 28, 2021.
Jeremy Erickson | Bloomberg | Good pictures
Check out the companies making headlines in premarket trading.
Micron technology – Shares rose more than 6% following news that Samsung Electronics plans to cut memory chip production closer to the deadline. Many Wall Street analysts said the move could accelerate a recovery in the memory chip industry.
Pioneer Natural Resources – Shares rose 7% before the bell The Wall Street Journal reported That Exxon Mobil Pioneer held informal talks to acquire the company. Exxon shares fell 0.6%.
Tesla – Electric vehicle shares fell nearly 2% pre-hours. Tesla says it plans to build a “megapack” battery factory in Shanghai and plans to cut vehicle prices again.
First Republic – Shares fell more than 3% after Regional Bank halted dividend payments on preferred stock.
Taiwan Semiconductor Manufacturing – US-listed shares of the Taiwan-based semiconductor stock fell nearly 1% before the hour after the company reported a monthly drop in revenue.
Capital is finance – Shares of the financial firm fell more than 4% in premarket trading after Capital One filed a filing saying Walmart was ending its credit card partnership. Capital One said in a filing that Walmart is suing to end the deal, while Capital One says the retail giant has no right to terminate the deal early.
prevent – Square and cash of parent lost nearly 2% in the premarket, followed by a market underperformance by KBW. The company said it was feeling pressure from a growing list of minor risks.
— CNBC’s Alex Haring and Jesse Pound contributed reporting