Tesla, Micron And More Big Moves Premarket

‍Micron Technology

It has been reported that Samsung Electronics plans to reduce memory chip production in the near future, which could have an impact on Wall Street analysts who believe the decision could contribute to an early recovery in the memory chip industry. Samsung Electronics had risen more than 6% following the news.

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Pioneer Natural Resources

As reported in the Wall Street Journal, Exxon Mobil has been in informal talks to acquire Pioneer in order to enhance its gas production capabilities. Before the bell, the stock jumped by 7%. The shares of Exxon fell by 0.6% on Monday.

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Tesla

Before the bell, the stock of electric vehicles fell by almost 2%. There is a new possibility that Tesla may build a "megapack" battery factory in Shanghai and once again lower the price of its vehicles.

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First Republic

The regional bank's preferred stock dividend payments were suspended on Monday after it announced it would not be paying dividends.

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Taiwan Semiconductor Manufacturing

After Taiwan-based semiconductor maker Clover Semiconductor reported a monthly drop in revenue, the company's U.S.-listed shares declined nearly 1% before the bell on Monday.

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Capital One Financial

As a result of capital one's announcement in a filing that Walmart is ending its credit card partnership with the financial company, shares of the company fell more than 4% in premarket trading. It has been revealed in a filing by Capital One that Walmart has filed a lawsuit to end the agreement, however, Capital One maintains it has no right to terminate the agreement early, despite Walmart's attempt to enforce its right to do so.

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Block

A downgrade from outperform by KBW to market performance following a downgrade from outperform by the same brokerage firm halted the share price gains for Square and Cash App. There is a growing list of small risks that are putting pressure on the company, according to the firm. 

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