Check out the companies making headlines before the bell. Oracle — Shares rose more than 5% in premarket after TikTok agreed to sell its U.S. operations to a new joint venture that includes software giant and private equity investor Silver Lake. CoreWeave — Shares rose 5.5% after the cloud infrastructure technology company joined the Department of Energy’s Genesis mission to advance U.S. research and innovation. Additionally, Citi has reinstated coverage of Coreweave, with a price target suggesting the stock could double from current levels. Generac — Wells Fargo upgraded Generac from equal weight to overweight, citing the energy technology company’s outlook for accelerating growth in diesel generators as backup power for AI data centers. The company also raised its target price. The stock price rose 3%. Coinbase — The cryptocurrency exchange rose nearly 3%. On Thursday, the U.S. Securities and Exchange Commission released long-awaited guidance for broker-dealers such as virtual currency exchanges. Nike — The apparel giant fell 10% in its fiscal second-quarter results after sales in China fell 17%. Bitcoin Mining Stocks — Investors are rushing back into crypto stocks after Micron Technology’s blockbuster earnings report restores confidence in risk-on trading. Terawulf, CleanSpark and Riot Platforms rose about 3%. — CNBC’s Fred Imbert contributed reporting.
