Check out the companies making the biggest moves premarket: SK Hynix — U.S.-listed shares of the South Korean chipmaker tumbled 8% after their debut on the Nasdaq on Friday — when they popped nearly 13%. Seoul-listed shares of the company sunk more than 15% , posting their worst day in history. Memory and chips stocks — A slew of names were under pressure as investors again took another look at the viability of the artificial intelligence trade. The Roundhill Memory ETF (DRAM) was off 9% as Sandisk tumbled 5.5%, while Western Digital and Micron Technology were off 5%. Meanwhile, the iShares Semiconductor ETF (SOXX) was off 2%, while Intel declined more than 2.5% and Advanced Micro Devices fell 2%. CCC Intelligent Solutions — Shares of the software company were higher by 2% after a Bloomberg report said Elliott Investment Management has built a large stake in the company. The stake was taken before CCC began talks of a potential sale, Bloomberg reported. MGM Resorts International — The hospitality company rose more than 2% after The Wall Street Journal reported the company is in private talks with Barry Diller. Diller’s People Inc in early June made an offer to buy the company, and MGM has not publicly responded to the offer yet. Energy stocks — Shares of energy companies were higher as oil prices rose more than 3% after fresh strikes over the weekend between the U.S. and Iran. Valero Energy rose by 1.5%, while ConocoPhillips was higher by 1%. APA Corporation rose 2%, while ExxonMobil and Chevron were up 1%. Fastenal — The industrial and construction supplies company was up by 1% after Rothschild & Co Redburn initiated coverage on the stock with a buy rating. Analysts at the firm are bullish about Fastenal’s outlook thanks to a shift by the company toward larger, more complex customers. Shopify , Deckers Outdoor Group — Shares of both companies were higher after Jefferies upgraded the stocks to buy. Shopify, which was rising by 2.5%, analysts at Jefferies said has strong fundamentals and that agentic commerce is a long-term tailwind. Deckers, which was up by 2%, analysts said has upside potential thanks to product innovation at its sportswear brand Hoka.
Stocks making the biggest moves premarket: SKHY, MU, MGM
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