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Stocks making the biggest moves premarket: QCOM, DPZ, ADBE
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Check out the companies making the biggest moves premarket: Qualcomm , Apple — The chipmaker surged more than 12% after TF International Securities analyst Ming-Chi Kuo said in a post on X that OpenAI is working with Qualcomm to develop smartphone processors. Apple, the iPhone maker, slipped 1.5% on the report of a potential new competitor. Domino’s Pizza — The pizza chain fell 4% after its U.S. sales outlook came short of expectations. Domino’s said it expects U.S. same-store sales to expand by 0.9%. Analysts on average had penciled in growth of 2.3%, according to StreetAccount. Adobe — Shares fell more than 1% after a Mizuho downgrade to neutral from outperform. Analysts wrote that increasing alternatives to the company’s products and potential strategic acquisitions or investments could hit Adobe’s margins in the future. Organon — The healthcare company jumped nearly 17% after it announced Indian drugmaker Sun Pharmaceutical Industries was acquiring it. Organon, which in 2021 was spun off from Merck , said that the transaction provides immediate and compelling value to shareholders. Intel — The stock continued to march higher on Monday after its 23% post-earnings surge on Friday . Intel shares were up about 2.5%. CrowdStrike — Shares rose 2% after Mizuho upgraded the company to outperform from neutral. The bank said demand remains healthy for CrowdStrike’s platforms and that Anthropic’s Project Glasswing, the rollout of the artificial intelligence giant’s powerful model Claude Mythos to select companies, will deliver a boost to the company. Campbell’s — The food and beverage company fell 2% after Bernstein downgraded the stock to market perform from outperform. Analysts said that Campbell’s flagship soup products are underperforming, while its snacks business is falling behind competitors. Seagate Technology , Western Digital — Shares of the two memory companies both rose more than 2% after Bank of America hiked price targets on both of the names. New long-term contracts and a lack of new entrants to compete with their hard disk drives business are boosting both companies, analysts said. — CNBC’s Fred Imbert contributed reporting.