Check out the companies that are trending in pre-market trading. Nvidia — Shares fell 2% after China announced regulators had opened an investigation into the chip maker. According to the Chinese government, the State Administration for Market Regulation was investigating possible antitrust violations. Advanced Micro Devices — The chipmaker fell more than 1% after Bank of America downgraded its stock from buy to neutral. Analyst Vivek Arya said hyperscalers at big tech companies have shown a preference for Nvidia and other semiconductor makers, which could lead to market share loss. Palantir Technologies — Shares rose more than 6% after the software platform company announced an expanded contract with the U.S. Special Operations Command to develop artificial intelligence mission management. The value of this contract is approximately $37 million. Interpublic Group of Companies, Omnicom Group — Stocks moved in opposite directions after the companies announced that Omnicom would acquire Interpublic in a stock-for-stock transaction. The transaction is expected to close in the second half of 2025. Following the announcement, Interpublic’s stock rose nearly 15%, while Omnicom’s stock fell about 3%. Macy’s — Shares rose 3% after activist investor Barrington Capital called on the department store chain to change its capital allocation plan and create a real estate division to maximize the value of its holdings. . It also requires Macy’s to reevaluate alternatives for its Bloomingdale’s and Bluemercury businesses. Dow — Shares soared 4% on news that the chemical maker plans to sell a 40% stake in some U.S. Gulf Coast infrastructure assets to a fund managed by Macquarie Asset Management for $2.4 billion. Reddit — The social media platform soars nearly 5% after Morgan Stanley upgraded its stock from equal weight to overweight. Analyst Brian Nowak believes Reddit has yet to reach its full potential, especially since U.S. ad revenue growth could be up to six times that of its peers. He said that He also expects ad spending to increase due to Reddit’s technology adoption, including end-to-end automation and machine learning modeling. SoFi Technologies — The fintech stock fell 2% after Bank of America was downgraded from neutral to underperform. The investment firm said SoFi is “perfectly priced” following recent gains. PayPal — Shares of the fintech company rose 2% after Bank of America upgraded the stock to buy from neutral. The company said turnaround progress has increased a year after the change in management. —CNBC’s Fred Imbert, Jesse Pound, Lisa Kai-Lai Han, Sean Conlon, Samantha Subin, Michelle Fox and Ha-Kyung Kim contributed reporting.
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