Check out the companies that are trending in pre-market trading. Synaptics — The semiconductor company rose 5.9% after announcing a partnership with Google on Edge AI. The partnership will see Google’s machine learning core integrated into Synaptics’ Astra hardware. Nvidia — The chipmaker’s stock rose 1.7%, giving it a strong start to the new trading year after being one of the best-performing companies in 2024. Loop Capital told clients that NVIDIA is at a “nirvana” moment and is showing signs that a recovery is possible. maintained. Chinese stocks — U.S.-listed stocks of Chinese companies struggled, with the iShares MSCI China ETF (MCHI) down 1.4%. Chinese stocks led the decline in Asian markets after the Purchasing Managers’ Index fell short of economists’ expectations. Xpeng and JD.Com both fell more than 1%. Crypto Stocks – Stocks related to the price of Bitcoin rose as the cryptocurrency rose above $96,000 and investors avoided losses in the last trading session of 2024. Coinbase and MicroStrategy each rose about 4%. Miners Mara Holdings, Riot Platforms and BitDeer each rose more than 3%. Uber, Norwegian Cruise Line — Both stocks rose after Goldman Sachs added Uber to its January conviction buy list. Uber rose 1.4%, while Norwegian fell 2.4%. Topgolf Callaway Brands — Golf shares rose 8.5% after Jefferies upgraded the stock to Buy from Hold. The company said the stock appears oversold. He raised his price target from $11 to $13, suggesting there is 65% upside potential. Cloudflare — The cloud cybersecurity company soared 5.6% after Goldman Sachs doubled the stock from sell to buy. The company also nearly doubled its price target, citing “several positive catalysts” for 2025, including sales and marketing productivity improvements and edge computing solutions. US Bancorp — Bank shares rose 1.8% after DA Davidson upgraded the stock to buy from neutral. The bank said it was “turning the corner” and positive operating leverage should return to above 0.5%. RTX — Shares rose 1.5% after Deutsche Bank upgraded the stock from hold to buy and raised its price target. The Wall Street firm said the defense company, formerly known as Raytheon Technologies, “compounds earnings better” than its peers. The price target has been raised to $140 from $131, suggesting an upside of more than 20% from Tuesday’s closing price. —CNBC’s Tanaya Machel, Sarah Min, Pia Singh and Michelle Fox contributed reporting
