Several companies were making headlines in premarket trading. Krispy Kreme saw its shares surge nearly 14% after announcing a partnership with McDonald’s to sell its donuts nationwide in McDonald’s restaurants by the end of 2026. Seagate Technology rose 4.1% following a Morgan Stanley upgrade to overweight, citing improved earnings power. McCormick’s shares also moved nearly 4% higher after reporting an earnings and revenue beat for the fiscal first quarter. United Parcel Service (UPS) saw a 3% increase in shares after releasing long-term forecasts, projecting between $108 billion and $114 million in consolidated revenue in 2026.
Super Micro Computer experienced a 3.1% increase in shares following a rating upgrade by JPMorgan, naming the company as a leader of the AI compute market. Micron Technology saw a 1.5% increase in shares after Mizuho Securities reiterated its buy rating and increased its price target, citing a strong AI opportunity potentially leading to better-than-expected sales in late 2024 into 2025. Taiwan Semiconductor also saw a 1% boost after JPMorgan reiterated its overweight rating, stating that “all roads” in artificial intelligence lead to Taiwan Semiconductor.
Krispy Kreme’s partnership with McDonald’s is set to double the donut maker’s current distribution with the rollout beginning in the second half of this year. Seagate Technology’s improved earnings power was attributed to generative artificial intelligence and other factors, leading to a Morgan Stanley upgrade. McCormick’s earnings and revenue beat for the fiscal first quarter exceeded analyst expectations, with adjusted earnings per share at 63 cents and revenue at $1.6 billion. UPS’s long-term forecast for 2026 projected between $108 billion and $114 million in consolidated revenue, following a decline in consolidated revenue for 2023 to $91 billion.
Super Micro Computer’s rise in shares was driven by an overweight rating from JPMorgan, which named the company as a leader in the AI compute market. Micron Technology’s increase in shares was attributed to potential sales growth in late 2024 and 2025, stemming from a strong AI opportunity. Taiwan Semiconductor received a boost in shares after JPMorgan reiterated its overweight rating, highlighting its significance in the field of artificial intelligence. Overall, these companies are making waves in premarket trading with positive developments and promising outlooks for the future.
