Tech giant Microsoft saw its shares increase by 2% as the company announced a 10.7% increase in its quarterly dividend to 83 cents per share and approved a new $60 billion share repurchase program. SolarEdge Technologies, on the other hand, saw its shares fall over 6% after Jefferies downgraded the solar company to underperform due to rising domestic competition and high inventory levels overseas. Intel’s stock jumped approximately 7% after announcing the creation of a separate entity for its foundry business, allowing the unit to have its own board and raise outside funding.
Dell Technologies also saw a positive trend with a 2% increase in its stock after Mizuho Securities initiated coverage with an outperform rating. The firm highlighted Dell as a market leader with a strong supply chain, gaining share in artificial intelligence servers. Similarly, e-commerce stock Shopify experienced a 2.6% gain after being upgraded to a buy rating by Redburn Atlantic, citing the potential for continued market share growth in the U.S. social e-commerce market. Flutter Entertainment’s shares ticked slightly higher after announcing the acquisition of Playtech Plc’s Italian gambling business Snaitech S.p.A. for $2.56 billion in cash.
AppLovin, a mobile software company, rose over 2% following an upgrade to buy from neutral by UBS, which highlighted the company’s execution on the gaming opportunity and the potential in the e-commerce market. Newspaper company Gannett also experienced a 4% increase in shares after Citi upgraded the company to neutral from sell, citing progress in slowing the rate of revenue decline and the potential for flat revenue growth in the future. Overall, these companies are making headlines due to various developments and upgrades that are impacting their stock prices positively.
In summary, Microsoft, Intel, Dell Technologies, Shopify, Flutter Entertainment, AppLovin, and Gannett are among the companies making headlines before the bell. These companies have seen fluctuations in their stock prices due to various announcements, upgrades, and business developments. Microsoft’s dividend increase and share repurchase program, Intel’s creation of a separate entity for its foundry business, and positive ratings and coverage for Dell, Shopify, AppLovin, and Gannett have all contributed to the movements in their share prices. Investors continue to monitor these companies for potential opportunities and risks in the market.
