Check out the companies making headlines before the market opens. Apple – Apple shares fell less than 1% after Reuters reported that the technology giant is offering deep discounts on its iPhones in China. Micron Technology — Shares of Micron Technology rose 2.3% after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. The bank said it underestimated the economic and narrative elements of AI memory. Micron Technology is up nearly 47% year to date. NVIDIA – The chip maker gained 1.4% as it prepares to release a closely watched quarterly report later this week. A handful of companies, including Barclays and Stifel, raised their price targets for Nvidia. Li Auto — U.S. shares of the Chinese electric vehicle maker fell 4.3%. Lee reported weaker-than-expected first-quarter earnings and gave soft guidance for current-quarter revenue. GameStop, AMC Entertainment — Shares of GameStop and AMC Entertainment were choppy in premarket trading after seeing volatility last week amid a resurgence in meme stock trading. Johnson Controls — Shares of Johnson Controls rose 5% after Bloomberg News reported that Elliott Management has taken a more than $1 billion stake in the security and safety company. The stock has gained 19% so far this year. Teradyne – Semiconductor test equipment stocks rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing the company’s recent strong quarter and expectations for a “cyclical recovery” in its system-on-a-chip design and test business. —CNBC’s Alex Harring and Michelle Fox contributed reporting.
