AMD — The chipmaker saw a remarkable surge of over 23% following a significant deal between OpenAI and Advanced Micro Devices. This agreement could allow OpenAI, the parent company of ChatGPT, to acquire a 10% stake in AMD, which has generated considerable excitement in the market.
Comerica and Fifth Third Bancorp — In a notable move, Fifth Third Bancorp announced a $10.9 billion all-stock deal to acquire regional bank Comerica. This news propelled Comerica’s shares up by 12%, while Fifth Third Bancorp’s stock experienced a slight decline of 4%. The dynamics of this merger are expected to reshape the regional banking landscape.
Boeing — Shares of Boeing ticked up nearly 1% after a report from Bloomberg indicated that the airplane manufacturer plans to accelerate its production of jets in the 737 Max line. According to the report, Boeing could reach an output of 42 jets per month for its 737 Max models as early as October, signaling a robust recovery in the aviation sector.
Micron Technology — The memory storage company saw its stock pop by 3.7% following an upgrade from Morgan Stanley, which raised its rating from equal weight to overweight. Analysts at Morgan Stanley anticipate multiple quarters of price increases in the double digits, reflecting a positive outlook for Micron’s performance in the coming months.
Tesla — Shares of Tesla gained 2% after the company posted a teaser video on the social media platform X. This has sparked speculation that Tesla is ramping up the release of a new car, further fueling investor interest in the electric vehicle maker.
— CNBC’s Michelle Fox, Alex Harring, and Liz Napolitano contributed reporting.
Stocks making the biggest moves premarket: AMD, CMA, MU
