Micron Technology headquarters in Boise, Idaho, March 28, 2021.
Jeremy Ericson | Bloomberg | Getty Images
Check out the companies making headlines in premarket trading.
Micron technology – Shares rose more than 6% on news that Samsung Electronics is planning to reduce memory chip production in the near term. Many Wall Street analysts said the move could accelerate a recovery within the memory chip industry.
Pioneer natural resources – The stock popped 7% before the bubble after the This was reported by the Wall Street Journal That Exxon Mobil held informal talks to acquire Pioneer. Exxon shares fell 0.6%.
Tesla – The stock of electric vehicles fell by almost 2% before the bell. Tesla said it plans to build a “megapack” battery factory in Shanghai and cut vehicle prices again.
First Republic – Shares fell more than 3% after the regional bank suspended dividend payments on preferred stock.
Taiwanese semiconductor manufacturing – US-listed shares of Taiwan-based semiconductor stocks fell nearly 1% before the bell after the company reported a monthly revenue decline.
Capital One Financial — Shares of the financial company fell more than 4% in premarket trading after Capital One said in a filing that Walmart is considering ending its credit card partnership. Capital One said in a filing that Walmart is suing to terminate the agreement, while Capital One claims the retail giant has no right to terminate the agreement early.
Block – The parent company of Square and Cash App lost nearly 2% in premarket after being downgraded to market performance from outperform by KBW. The company said the company is under pressure from a growing list of small risks.
— CNBC’s Alex Harring and Jesse Pound contributed reporting
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