Check out the companies making headlines in premarket trading. Nvidia — Stock in the chipmaker slipped less than 1% before the opening bell, but the artificial intelligence play and “Magnificent Seven” leader officially entered correction territory on Tuesday. Shares have fallen 10% from an all-time closing high of $950 per share on March 25. Alibaba Group — The China-based e-commerce stock rose nearly 3% on media reports that co-founder Jack Ma touted the company’s management in an internal memo to employees. Ma’s upbeat note also talked about the potential for AI. Albemarle — Shares gained about 2% after Bank of America upgraded the chemicals manufacturing company to buy on the back of rising lithium prices, and raised its price target. GoodRx — Shares climbed nearly 4% after KeyBanc upgraded the telemedicine stock to overweight on the heels of a strong subscriber growth forecast. Deckers Outdoor — Shares slipped more than 2% after Truist downgraded the footwear stock to hold over concerns that demand for core products including Hoka is declining. Delta Air Lines – The air carrier gained 4% premarket after it posted adjusted earnings per share of 45 cents for the first-quarter, topping expectations by 9 cents, according to LSEG. CEO Ed Bastian cited strength in both leisure and business travel ahead of the peak travel season, speaking to CNBC Taiwan Semiconductor Manufacturing — Shares rose 2% after strong demand for artificial intelligence-powering chips helped expand the company’s monthly revenue 34.3% year-on-year in March. — CNBC’s Sarah Min and Tanaya Macheel contributed reporting
Source: www.cnbc.com