© Reuters.
Investing.com — Stocks in focus in premarket trade on Monday, May 22nd. Please refresh for updates.
-
Micron (NASDAQ:) stock fell 4.3% after China prohibited major local infrastructure operators from purchasing chips made by the U.S. semiconductor firm.
-
Meta Platforms (NASDAQ:) stock fell 1.2% after the was fined a record $1.3 billion by the EU’s lead privacy regulator for its handling of user information.
-
JPMorgan Chase (NYSE:) stock rose 0.4% after the largest U.S. lender expected the purchase of First Republic Bank to boost its net interest income by $3 billion this year.
-
Apple (NASDAQ:) stock fell 1% after Loop Capital downgraded the iPhone maker to ‘hold’ from ‘buy’, expecting the company to miss its revenue forecasts.
-
DraftKings (NASDAQ:) stock rose 3% after UBS upgraded its stance on the sports gaming company to ‘buy’ from ‘neutral’, citing new market penetration and higher revenue growth.
-
Nike (NYSE:) stock fell 1.5% after Williams Trading downgraded its stance on the to ‘sell’ from ‘hold’, saying the company faces many headwinds and the stock is expensive.
-
PacWest Bancorp (NASDAQ:) stock rose 4.5% after the regional lender agreed to sell a portfolio of real estate construction loans, amounting to around $2.6B, to a unit of Kennedy-Wilson (NYSE:), up 1%.
This story originally appeared on Investing
