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Apex Trader Funding (ATF) - News

Barron's Super Micro, Nvidia, Taiwan Semi, Macy’s, Li Auto, Spirit AeroSystems, and More Stock Market Movers

Stock futures pointed lower Monday ahead of a week filled with congressional testimony from Federal Reserve Chairman Jerome Powell and the monthly U.S. jobs report.

These stocks were set to make moves Monday:

Super Micro Computer, a maker of servers that help with artificial-intelligence applications, and Deckers Outdoor, the maker of Hoka sneakers and Ugg boots, will join the S&P 500 before the opening of trading on March 18. Shares of Super Micro, which have risen 219% this year, were up 12% in premarket trading, while Deckers jumped 4.8%. The two companies will replace Whirlpool and Zions Bancorp in the index. Whirlpool fell 1.8% and Zions declined 2.3%.

Shares of Nvidia rose 1.2% in premarket trading after the chip giant closed Friday with a market cap above $2 trillion for the first time. The stock rose from $1 trillion to $2 trillion in 180 trading days, according to Dow Jones Market Data, faster than Apple and Microsoft, the only other companies to end a trading day with a market cap higher than $2 trillion.

Taiwan Semiconductor Manufacturing rose to a record high in Taipei, according to Bloomberg, jumping 5.2% to NT$725. It has risen 22% this year. U.S.-listed shares of Taiwan Semiconductor, the world’s largest third-party chip manufacturer, were rising 4.1% in premarket trading.

Macy’s was rising 14% to $20.50 after Arkhouse Management and Brigade Capital said they raised their offer to buy the retailer by almost $1 billion. The private-equity firms raised their bid to $24 a share, or $6.6 billion. Macy’s in late January rejected an offer from Arkhouse and Brigade Capital of $21 a share, or $5.8 billion. Macy’s said it has received the new offer and its board would review the proposal.

American depositary receipts of Li Auto declined 6.5%. The Chinese electric-vehicle maker on Friday unveiled the Mega, the company’s first high-voltage battery-electric vehicle. The car was priced at 559,800 yuan (US$77,785), slightly higher than analysts expected. Li Auto on Friday reported deliveries in February of 20,251 vehicles, up 22% year over year.

Spirit AeroSystems  was up 1.9% after Boeing confirmed Friday it was in discussions to acquire the jet-fuselage supplier. Spirit AeroSystems was once a part of Boeing but was created when Boeing sold some of its factories in 2005. “We believe that the reintegration of Boeing and Spirit AeroSystems’ manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders,” Boeing said in a statement.

DoorDash rose 3.2% to $131.51 after shares of the food-delivery company were upgraded to Outperform from Sector Perform at RBC Capital and the price target was increased to $175 from $130, the Fly reported.

Lyft also was upgraded to Outperform from Sector Perform at RBC Capital. The stock rose 4.5% to $17.09. RBC Capital raised its price target on shares of the ride-hailing company to $23 from $17.