Check out the companies making headlines before the bell.
Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China.
Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. The bank said it had underestimated the economic and narrative elements of artificial intelligence memory. Micron is up nearly 47% so far this year.
Nvidia — The chipmaking stock added 1.4% as it readies for its closely-watched quarterly print later this week. A handful of firms lifted their price targets on Nvidia, including Barclays and Stifel.
Li Auto — U.S. shares of the Chinese electric vehicle maker slipped 4.3%. Li reported weaker-than-expected earnings for the first quarter and soft guidance for current-quarter revenue.
GameStop, AMC Entertainment — Shares of GameStop and AMC Entertainment fluctuated during premarket trading, following a volatile run last week amid a resurgence of the meme-stock trade.
Johnson Controls — Shares rose 5% after Bloomberg News reported Elliott Management has built a more than $1 billion stake in the security and safety company. Year to date, the stock has climbed 19%.
Teradyne – The semiconductor testing equipment stock rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing its recent strong quarter and expectations for a “cyclical recovery” within its system-on-chip design test business.
