In the world of premarket trading, several companies are making headlines with their stock movements before the bell rings. Here are some of the biggest movers to keep an eye on:
1. Tesla: The electric vehicle maker saw a nearly 1% gain after Goldman Sachs increased its stock price target by $73 to $248 per share. This comes on the heels of better than expected second quarter deliveries, with Tesla booking 10-straight days of gains. Despite the price target increase, Goldman remains neutral on Tesla, with the new target implying a slight downside from Tuesday’s closing price.
2. Taiwan Semiconductor Manufacturing: Shares of the semiconductor chip maker rose 2% after reporting revenue of T$673.51 billion for the April-June quarter, beating analyst expectations. The company, known for supplying chips to AI giants like Nvidia and Apple, continues to show strong performance in the market.
3. 3M Company: On the flip side, shares of 3M declined 1.2% after the company announced its finance chief is leaving to pursue another opportunity. The change is set to take effect at the end of July, causing some uncertainty among investors.
These are just a few of the companies making waves in premarket trading. Stay tuned for more updates as the market opens and these stocks continue to move.
