Check out the companies making the biggest moves in premarket trading.
Toyota: an automaker headquartered in Japan, increased by almost 5% when shareholders reelected chairman Akio Toyoda to the board of directors, signalling wide support for the company’s governance as well as its new strategy for electric vehicles.
Logitech International: Following the announcement that Logitech CEO Bracken Darrell would be leaving the firm to pursue other opportunities, shares of the company that makes computer accessories dropped more than 10%. Citi lowered its recommendation for the company from buy to neutral, stating that Logitech has to offer more clarity about its long-term goals with the change in leadership.
Vodafone: Following the announcement that Vodafone and CK Hutchison have reached an agreement to combine their respective operations in the United Kingdom, shares of Vodafone increased by about 3% in premarket trade.
Chipmaker Advanced Micro Devices saw a rise of 3% in premarket trading. On Tuesday, sophisticated Micro Devices said that it would begin delivering certain customers its most sophisticated GPU for artificial intelligence later this year. The company made the announcement. According to a story from Reuters on Wednesday, Amazon Web Services is mulling over whether or not to use the new CPUs.
UnitedHealth: Following remarks made by UnitedHealth Chief Financial Officer John Rex at a conference this week that there have been increasing numbers of nonurgent procedures in the second quarter, shares of UnitedHealth plummeted almost 6% before the market opened. Other managed care businesses, such as Humana and Cigna, also saw declines, with Humana falling 7.5% and Cigna falling 3.6%, respectively.
Lumen Technologies: Following the previous day’s rise of 16% on the announcement of Lumen’s new network interconnection ecosystem in conjunction with Google and Microsoft, the share price increased by around 11%.
Shell: The stock of European oil companies increased by 2.3% after Shell announced an increase in its dividend and share buybacks and said that it will maintain the same level of oil output until 2030.
SoFi Technologies increased by 3.25 percent before the market opened. As payments on student loans get back under way, BTIG has rated SoFi as a top selection in the financial technology industry. The Wall Street firm’s price estimate of $14 suggests an upside potential of more than 46% from Tuesday’s closing price.
