Stocks were poised to open with modest gains on Monday, likely under pressure from major central banks later in the week.
Shares in a chip-design company
Arm Holdings
(Symbol: ARM) fell 3.2% to $58.83 after a successful trade last week, and the stock is probably still finding its footing. Other chipmakers have joined:
Nivea
( NVDA ) fell 1.5%;
Intel
(INTC) fell 0.7%; and US-listed stocks
Taiwan Semiconductor Manufacturing
(TSM) decreased by 0.4%.
Micron Technology
( MU ) jumped 2.2% after being upgraded to Buy from Hold by Deutsche Bank.
GM
( GM ) rose 0.3% in premarket trading and owned by Jeep.
Stellar
( STLA ) fell 1.3% as the United Auto Workers went on strike at three auto plants.
Ford
(F) decreased by 0.2% and
Tesla
( TSLA ) was down 0.2%. Negotiations between the automakers and the union continued over the weekend.
QuantumScape
( QS ) electric-battery startup Evercore rose 2.5% in premarket trading after ISI Outperform.
Ralph Lauren
(RL) The premium apparel company gained 1.7% after being upgraded by Guggenheim from Buy to Neutral.
NetApp
( NTAP ) was down 1.6% in premarket trading after the data sharing software company was downgraded from Outperform to Market Perform by William Blair.
PayPal Holdings
( PYPL ) fell 1.4% after the payments giant was downgraded to market perform by Moffett Nathanson.
Planet Fitness
(PLNT) fell 1.2 percent in premarket trading after being downgraded from Buy to Hold by Jefferies. Shares fell 16 percent on Friday after the fitness chain announced the departure of CEO Chris Rondeau and appointed a new interim CEO.
Chevron
( CVX ) rose 0.6% to $167.44 after the oil major said a natural gas plant in Australia hit by a workers’ strike had returned to full production. The Wheatstone plant produces about 5% of the world’s liquefied natural gas from the nearby Gorgon facility and experienced problems last week. Rival
Exxon
(XOM) rose 0.5% to $117.23.
Adjusting the seam
( SFIX ) is scheduled to report quarterly earnings after the closing bell on Monday. Reports are expected later in the week
FedEx
(FDX),
General Mills
(GIS),
Self-zone
(avoid)
KB Home
(KBH) and
Darden Restaurants
(DRI)
Write to Rupert Steiner at rupert.ste[email protected] and Emily Dattilo at [email protected]
