Stocks making the biggest moves premarket: Oracle, Novo Nordisk, Hims & Hers Health, Kroger and more
Check out the companies making headlines before the bell. Oracle — Shares rose 2% after the technology firm received an upgrade to buy from neutral from DA Davidson. ” We believe that a revamped OpenAI will return to its position as Google’s top challenger and with a fresh stack of capital be able to live up to its obligations this year, including to Oracle,” DA Davidson analysts wrote in a note to clients. STMicroelectronics — The semiconductor firm gained 7% after announcing an expanded, multi-billion-dollar partnership with Amazon Web Services to support infrastructure for cloud and AI data centers. Kroger — Shares jumped nearly 5% after the Wall Street Journal reported the grocery store chain is preparing to name former Walmart executive Greg Foran as its next CEO. Novo Nordisk , Hims & Hers Health — Novo Nordisk rose roughly 5% as Hims & Hers pulled its copycat weight-loss pill off the market after Novo had threatened legal action against the telehealth firm. Hims & Hers’ stock sank 18%. Robinhood — Shares were up 3% after the trading platform received an upgrade to buy from Wolfe Research. The firm pointed to Robinhood’s attractive risk-reward profile, despite a recent pullback in crypto-connected stocks. Semiconductor stocks — Stocks across the semiconductor industry fell following a South Korean media report that Samsung will begin producing next generation, high bandwidth memory chips as soon as this month. Micron Technology shed 3%, while shares of Broadcom and Advanced Micro Devices edged down 1%. Valaris — Shares of the offshore drilling services company rose about 16% after it struck a deal to be acquired by Transocean for $5.8 billion. Valaris shareholders will receive 15.235 shares of Transocean stock for each Valaris share they own. Transocean shares fell nearly 4%. —CNBC’s Christina Cheddar Berk contributed to this report
