Check out the companies making headlines before the bell. Google — Alphabet’s Class A shares are trading 5.6% higher following a Bloomberg report that Apple is in talks with Google to license and include its Gemini artificial intelligence engine in future iPhones. Ta. Super Microcomputer — Stock price rose 2.5%. The technology company, which makes servers that power artificial intelligence applications, will join the S&P 500 before the start of trading on Monday. The stock has soared more than 20 times over the past two years, and is up 276% year-to-date. Nvidia — Shares rose 2.7% ahead of his highly anticipated GTC conference, where the chipmaker is expected to announce various AI updates. HSBC earlier Monday raised its price target to $1,050 per share from $880, saying it was encouraged by Nvidia’s AI product roadmap that could eventually allow it to own “the entire value chain.” HashiCorp — Shares rose 9.8% on news that the San Francisco-based software provider is considering options, including a sale. Bloomberg reported the development, citing people familiar with the matter. Taiwan Semiconductor Manufacturing Co. — U.S.-listed shares rose 1.5% after Reuters reported, citing people familiar with the matter, that Taiwan Semiconductor Manufacturing Co. is considering building advanced packaging capabilities in Japan. Tesla — The stock rose 3.2% even as Goldman Sachs lowered Tesla’s price target by $30 to $190, as the company faces increasing competition and slowing demand. But the company argued that Tesla is “well positioned for long-term growth,” citing Tesla’s strong position in the EV and clean energy markets. PepsiCo — Shares of the beverage company rose 1.2% after Morgan Stanley upgraded the stock from equal weight to overweight. Analysts at the bank say PepsiCo’s fundamentals are expected to recover in the second half of this year. —CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Ming and Michelle Fox Theobald contributed reporting.
Stocks making the biggest moves pre-market: GOOGL, HCP, NVDA
