Check out the companies making headlines premarket. Nvidia — Shares of the chipmaker fell less than 1% before the bell, but the artificial intelligence game and Magnificent Seven leader officially entered correction territory on Tuesday. The stock is down 10% from its all-time closing high of $950 per share on March 25. Alibaba Group – Shares of the Chinese e-commerce company rose nearly 3% on media reports that co-founder Jack Ma touted company management in an internal memo to employees. Ma’s optimistic note also talked about the potential of AI. Albemarle — Shares rose about 2% after Bank of America upgraded its rating on the chemical maker amid rising lithium prices and raised its price target. GoodRx — Shares rose nearly 4% after KeyBanc upgraded the telehealth stock to outperform on strong subscriber growth forecast. Deckers Outdoor — Shares fell more than 2% after Truist downgraded the footwear company’s shares to address concerns that demand for core products including Hoka is waning. Delta Air Lines – Shares of the carrier rose 4% in premarket trading after it reported adjusted earnings per share of 45 cents for the first quarter, beating expectations by 9 cents, according to LSEG. CEO Ed Bastian highlighted the strengths of both leisure and business travel ahead of the peak travel season while speaking to CNBC Taiwan Semiconductor Manufacturing. Shares rose 2% after strong demand for artificial intelligence chips helped boost the company’s monthly revenue by 34.3% year over year. year in March. — CNBC’s Sarah Min and Tanaya Machil contributed reporting.
