Finance News

Shares Making The Largest Strikes In The Pre-Market: Nvidia, Amazon, Lennar, Walmart & Extra

Check out the companies that are making the headlines before the bell:

Nvidia (NVDA) – Shares in Chip stock rose in premarket trading after Needham raised its price target from $ 600 per share to a street high of $ 700 per share. The Wall Street company, which has a buy rating on Nvidia, said the company's acquisition of Arm could potentially increase earnings by $ 1.20 to $ 1.65 per share in 2022.

Lennar (LEN) – The housing company's shares fell in premarket trading despite reports of earnings and sales that exceeded analysts' forecasts. Lennar made $ 2.12 per share on revenue of $ 5.87 billion. Wall Street expects earnings of $ 1.55 per share on sales of $ 5.48 billion, according to Refinitiv. The company said the average home sales price is expected to decrease in the fourth quarter of the fiscal year.

Walmart (WMT) – Big box retailer Walmart + 's membership program officially launches on Tuesday as a competitor to Amazon.com's Prime. Membership includes unlimited free delivery on orders over $ 35 and discounts on gasoline.

Amazon.com (AMZN) – The e-commerce giant rose in premarket after announcing a new shopping platform called "Luxury Stores". The high-end shopping experience will be available on Tuesday by invitation in the Amazon app. Oscar de la Renta is the first store with its collections before Fall and Fall / Winter 2020.

Tesla (TSLA) – Shares in the electric vehicle maker hit the pre-market, extending gains of 12% on Monday. Tesla lost more than 10% last week as the tech-heavy Nasdaq Composite had its worst week since March.

VF Corp. (VFC) – The retailer's shares rose in premarket trading after BTIG upgraded the stock from "neutral" to "buy". The Wall Street company sees tailwinds from the Vans and The North Face brands as well as an improvement in online traffic. BTIG has a target price of $ 88 per share for VF Corp.

Sony (SNE) – The company's shares fell in premarket trading after it was revealed that production targets for the upcoming Playstation 5 were cut by 20% due to issues with the consoles' chips.

Kraft Heinz (KHC) – The food and beverage company's stocks have surfaced in premarket trading after the Wall Street Journal reported that Kraft Heinz plans to cut costs by $ 2 billion over the next five years.

Nikola (NKLA) – Shares in the electric truck company fell in premarket trading following a report the Securities and Exchange Commission is investigating against the company on allegations made by Wall Street research firm Hindenburg Research that Nikola misled investors about its business products .

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