Before you call, check out the companies that are making headlines. GameStop — GameStop shares rose more than 37% in premarket trading after the release of “Roaring Kitty” for the first time in about three years. The post, which featured an X-based image of a video gamer leaning forward in a chair to show that he was serious about the game, was Roaring Kitty’s first post on the platform—or Reddit—since 2021. Arm Holdings shares rose 3.4% after Nikkei reported the chip company plans to release its first artificial intelligence chips next year. According to the report, Arm hopes to build a prototype by spring 2024. Nvidia — Nvidia shares rose about 1% after Jeffries raised his price target for the chip maker to $1,200 per share, suggesting upside potential of about 34%. “We think it’s too early to pick winners and losers in the AI basket, but NVDA is our favorite,” wrote analyst Blaine Curtis. Intel — Shares of the chipmaker rose 1.1% after The Wall Street Journal reported that Intel is in talks on an $11 billion deal with Apollo Global Management to build a plant in Ireland. Kenvue — Kenvue shares fell nearly 2% after Kenvue announced that Johnson & Johnson would sell its 9.5% stake in the company. The consumer products company completed its separation from Johnson & Johnson in May 2023. Squarespace — Shares of the website platform company jumped more than 12% after announcing a $6.9 billion deal to go private. Squarespace said Monday morning that it would be sold to private equity firm Permira for $44 a share, up 15.2% from Friday’s closing price. Penn Entertainment – Sports betting stocks fell 2.3% after Bank of America downgraded the stock to neutral from buy, saying it views Penn as a “profound value turnaround” rather than an upside opportunity. , as was his original point. The company’s deteriorating balance sheet has also raised concerns about the stock, the firm said. Airline shares. Shares of United, Delta and American Airlines added 0.6% after HSBC initiated coverage with a buy rating. HSBC has singled out Delta as its preferred share in the sector. International travel demand and a rebound in corporate travel will support the stock, the company said. SolarEdge — Shares fell 0.9% after Susquehanna downgraded the stock from positive to neutral. After the solar company’s larger-than-expected first-quarter loss and weak revenue guidance, Susquehanna said gross margins remain under pressure. Incyte — The biopharmaceutical company jumped more than 5% Monday after it approved a $2 billion share buyback program. —Reporting by CNBC’s Samantha Subin, Jesse Pound, Michelle Fox, Pia Singh and Fred Imbert.
