Check out the companies making headlines before the market opens. Intel — Asset manager Apollo Global Management proposed an equity investment of up to $5 billion in Intel, Bloomberg reported Sunday, sending the chipmaker’s shares up 4%. CNBC confirmed on Friday that Qualcomm had recently approached Intel about an acquisition. Intel’s stock price has fallen by more than half this year, having last reached an all-time high in the summer of 2000. Yes things are improving in the broader telecom/cable industry. The bank expects bookings to grow next year. Constellation Energy – Shares of the nuclear energy provider rose about 3% after Morgan Stanley raised its 12-month price target, implying upside potential of nearly 23%. The investment bank believes Constellation plans to restart the Three Mile Island nuclear power plant in Pennsylvania to meet the power needs of Microsoft’s data centers and enable it to grow further. Pinterest – Shares of the social media platform rose more than 2% after Deutsche Bank initiated a research note with a buy rating. The bank sees the platform’s growing relevance among users and expects strong revenue growth in the coming years. General Motors Co. — Shares of General Motors Co. fell 2% after Bernstein downgraded the Chevrolet and Cadillac maker to market perform from outperform. The Wall Street firm also lowered its price target, citing continued build-up in U.S. inventories and challenges in GM’s international business. Palantir – maker of a software platform that helps companies analyze data – fell more than 1%. Raymond James downgraded shares of Palantir to market perform, citing rising valuations following Palantir’s recent outperformance. Micron Technology – Shares of the Boise, Idaho-based DRAM chip maker rose more than 1% after JPMorgan Chase & Co. reiterated an overweight rating ahead of Micron’s earnings report on Wednesday. Analyst Harlan Sur expects results and forward guidance to be “in line with recently lowered consensus estimates” and supported by strong artificial intelligence demand. —CNBC’s Samantha Subin, Sarah Min and Pia Singh contributed reporting.
