Check out the companies making headlines before the market opens. AMC Entertainment, GameStop — Shares of AMC and GameStop fell in early trading as the meme stock craze lost momentum, reignited by the re-emergence of Roaring Kitten on social media on Monday. Shares of AMC dropped more than 7% after the movie theater chain announced it would offer more than 23 million shares “in exchange for $163,850,000 aggregate principal amount of 10%/12% cash/PIK switch second lien subordinated notes due 2026.” . GameStop shares fell 6%. Boeing – Shares of Boeing fell 1.1% after the U.S. Justice Department said it violated a 2021 settlement agreement related to two fatal 737 Max crashes, leading to the company facing possible U.S. prosecution. NIO — Shares of NIO rose 3.3% after JPMorgan upgraded its rating on the Chinese electric vehicle maker to neutral from underweight. The bank said the stock, which has surged in the past month, could benefit from Chinese government stimulus policies and Nio’s latest battery-as-a-service (BaaS) strategy, which could boost sales. Dell — Shares of the technology company rose about 2% after Morgan Stanley raised its price target on the stock. The bank said Dell is “gearing momentum” with enterprise customers, including demand for artificial intelligence servers. SunPower — Solar stocks fell 22.3%, giving up the previous session’s 59% gain. Shares jumped on Tuesday after the White House announced higher tariffs on certain Chinese solar products. However, on Wednesday, Wolfe Research downgraded the stock to underperform from peer perform, noting that SunPower was “the most extreme example of a meme stock resurgence” among clean technology companies. —CNBC’s Alex Harring, Fred Imbert and Jesse Pound contributed reporting.
