Check out the companies making the biggest moves in pre-market trading: U.S. Steel — Stocks slumped after President-elect Donald Trump said late Monday that he would block Japan’s Nippon Steel from acquiring the steelmaker. It fell 7%. An agreement was reached for Nippon Steel to acquire U.S. Steel in late 2023, but the deal has since faced political opposition. AT&T — Cell phone stocks rose nearly 4% after the company said it expects free cash flow to be more than $18 billion in 2027. AT&T announced its three-year vision on Tuesday. Among them are plans to double the availability of fiber internet and strengthen 5G networks. Axon Enterprise — the maker of Tasers used in police departments, increased by nearly 2% following an equivalent-to-overweight upgrade at Morgan Stanley. The investment bank said artificial intelligence could help expand Axon Enterprise’s overall addressable market. Synchrony Financial — The Stamford, Conn.-based credit card issuer rose more than 1% after Wells Fargo upgraded its rating from equal weight to overweight. The bank said Synchrony trades at a cheap valuation and could benefit from regulatory changes under the incoming Trump administration. Upstart Holdings — AI Lending Markets shares rose 1.5% following a buyback from Redburn Atlantic. The company sees significant market opportunity in the convergence of Upstart’s AI and scalable technology platform. Credo Technology Group — The technology company soared 32% late Monday after its revenue beat analyst estimates and it issued a strong earnings outlook for the current quarter. LSEG said second-quarter adjusted earnings were 7 cents per share on revenue of $72 million, compared to market expectations of 5 cents per share on revenue of $67 million. Zscaler — The cloud security company’s second-quarter revenue estimates were broadly in line with analyst expectations, sending its stock down 7% in early trading. Zscaler reported better-than-expected adjusted earnings and sales in its fiscal first quarter. CVS Health — Shares rose 1.4% after Deutsche Bank upgraded the drugstore chain and pharmacy benefits manager from hold to buy. The investment bank expects earnings to recover, beating consensus estimates. Cleanspark — Shares fell about 8% after the Bitcoin miner reported lower-than-expected fiscal year 2024 earnings. Revenue was $379 million, below the consensus estimate of $395 million, according to FactSet. Super microcomputers — The maker of artificial intelligence servers rose nearly 8%, on top of Monday’s 29% rise, after a special committee of its board of directors found no evidence of wrongdoing or “significant integrity concerns.” ” announced. Supermicro’s senior management or audit committee or their efforts to ensure that the Company’s financial statements are materially accurate; ” — CNBC’s Jesse Pound, Ha-Kyung Kim, Sara Min and Pia Shin contributed reporting.
