Check out the companies that make headlines before the bell. NVIDIA – Artificial Intelligence Chip Darling dropped more than 1% after a Financial Times report cited three people who know the problem. China’s internet regulators have said the country’s largest tech company is banning Nvidia’s AI chips. Stocks in Chipmaker Advanced Micro devices also fell by more than 1% in sympathy, following the report. Alibaba – US stocks, a Chinese e-commerce giant, won 2.3% after Chinese state media reported that it had acquired China Unicom, its leading customer with artificial intelligence chips. Baidu – China’s high-tech companies have skyrocketed by nearly 8%. The move comes just after Arete Research Services, which upgrades Baidu’s US deposit receipts to purchase from sale, citing a positive outlook on AI chips and cloud computing revenue. Cytoplasmic – Inventory rose by more than 1%. On Tuesday, Biopharmaceutical Company announced plans to offer the $650 million convertible senior notes scheduled for 2031. Work Days – HR Software Provider’s shares rose more than 8% after activist investor Elliott Management disclosed $2 billion in stock. Netflix – The streaming giant rose 1.2% on the back of the upgrade and purchased from Hold from Loop Capital. The company said its long-term margin assumptions are high as Netflix wins streaming wars with strong content and content generates more revenue. Zillow Group – Shares rose nearly 3% after Bernstein upgraded from market performance to outperform. The company said it was “warmed up” to the basic narrative and cited the company’s recent earnings growth implementation as a factor. Tesla – The electric car maker’s shares fell more than 1%, turning the course back from the rise seen on the previous trading day. Tuesday’s move marked the stock’s sixth consecutive day of profit. General Mills – Food companies fell 3% after General Mills reported a shortfall in fiscal first quarter results. Revenues exceeded expectations, but organic sales growth was in line with expectations. – Reported by CNBC’s Sarah Min and Michelle Fox Theobald.
