Stocks with the biggest gains before the market: SMCI, DECK, M | Private Equity Weekly
Check out the companies making headlines before the market opens. Super Micro Computer, Deckers Outdoor — Super Micro Computer and Deckers Outdoor will be added to the S&P 500 later this month, S&P Dow Jones Indices said Friday, sending shares of the companies up 12% and 12%, respectively. 5%. They will replace Whirlpool and Zion Bancorp, which will be added to the S&P MidCap 400 Index when trading opens on March 18. Macy’s — Shares of Macy’s soared nearly 17% after Arkhouse Management raised its offer to buy the department store chain from $21 to $24 a share, or about $6.6 billion. Apple — Apple shares fell about 1% after the European Commission fined the iPhone maker $1.95 billion. The antitrust penalties argue that the company abused its market position in the distribution of music streaming apps by favoring its own products over rival alternatives. CRYPTO STOCKS – Companies whose performance is tied to the price of Bitcoin rose in pre-market trading after the cryptocurrency hit a two-year high. Coinbase and Microstrategy rose 6% and 8% respectively. Among mining groups, Marathon Digital and Iris Energy were up 6% each, Riot Platforms was up about 5% and CleanSpark was up 8%. DoorDash — Royal Bank of Canada (RBC) shares rose 2.8% after it upgraded its food delivery platform to outperform. RBC pointed to the possibility of new partnerships for DoorDash in terms of upgrades, specifically with Lyft. Spirit AeroSystems, Boeing — Shares of the airframe maker rose nearly 3%. Boeing is in talks to acquire Spirit Aerosystems amid quality issues with its 737 Max jets, the companies reported on Friday. Boeing spun off what is now Spirit AeroSystems in 2005. Lyft – Shares of the ride-sharing company rose 6% after RBC upgraded its rating to outperform. As a catalyst, the bank highlighted its confidence in Lyft’s 2024 EpITDA forecast, food delivery opportunities and Lyft’s position in a “stable duopoly.” Kyverna Therapeutics — The biopharmaceutical stock rose more than 4% after Morgan Stanley initiated an overweight rating on its cell therapies for autoimmune diseases. Ferrari – Shares of the luxury automaker fell 2% after Citi cut its rating to sell from neutral. Ferrari’s shares trade well above Citi’s price target, causing the bank to worry about its valuation. Li Auto — The Chinese automaker’s U.S.-listed shares fell nearly 7%, giving up last week’s gains. Li Auto’s stock price rose 25% last week after it reported better-than-expected profits. On Friday, the company announced the launch of its first fully battery-powered vehicle. On Thursday, the company reported disappointing February deliveries. Dutch Bros — Piper Sandler Piper Sandler shares rose 2.5% after the coffee chain upgraded its rating to “overweight.” “From our equity financing in September, the same-store service strength we have demonstrated since then, to our official announcements of mobile order and pay testing and implementation throughout this year; we believe now is the right time for us to become more constructive on :Bro,” analyst Brian Mullan wrote. —CNBC’s Lisa Han, Fred Imbert, Tanaya Macheel, Hakyung Kim, Jesse Pound and Michelle Fox contribute
