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Investing.com — Stocks in focus in premarket trade on Monday, May 8th. Please refresh for updates.
- Shares in PacWest (NASDAQ:) jumped in premarket trading, extending gains registered on Friday after the Beverly Hills-based bank cut its dividend and said its business is “solid.”
- Arizona-based peer Western Alliance (NYSE:) also rallied by over 10%, adding on to an increase of nearly 50% to end the prior session.
- Cryptocurrency-exposed businesses Marathon Digital (NASDAQ:) and Riot Platforms (NASDAQ:) dropped. The moves come after digital coin exchange Binance lifted a block on withdrawals that was caused by heavy volumes and a spike in processing fees.
- Occidental Petroleum (NYSE:) dipped slightly after Warren Buffett said his investment powerhouse, Berkshire Hathaway, will not make a bid to take full control of the energy firm.
- Snowflake (NYSE:) shares gained after Stifel upgraded its rating of the cloud software company to buy from hold.
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Tupperware Brands (NYSE:) shares fell by more than a tenth as the reusable plastic container maker said it was working with investment bank Moelis & Co LLC to explore its strategic options. The company previously posted an 18% slump in net sales in the first quarter.
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Qualcomm (NASDAQ:) stock edged down marginally after the semiconductor group announced that it had agreed to purchase Israeli automotive chip maker Autotalks.
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Atlantica Sustainable Infrastructure (NASDAQ:) rose after National Bank Financial improved its outlook for the power generation business to Outperform from Sector Perform.
