Check out the companies that made the biggest pre-market moves. SK Hynix — The South Korean semiconductor maker’s U.S.-listed shares fell 8% after listing on the Nasdaq on Friday — after soaring nearly 13%. The company’s Seoul-listed shares fell more than 15%, marking its worst day ever. Memory and chip stocks — Many stocks are under pressure as investors reconsider the viability of the artificial intelligence industry. The Round Hill Memory ETF (DRAM) had SanDisk down 5.5%, Western Digital and Micron Technology were down 5%. Meanwhile, the iShares Semiconductor ETF (SOXX) fell 2%, Intel fell more than 2.5% and Advanced Micro Devices fell 2%. CCC Intelligent Solutions — Shares of the software company rose 2% after Bloomberg reported that Elliott Investment Management has taken a significant stake in the company. The stake was acquired before CCC began discussions about a potential sale, Bloomberg reported. MGM Resorts International — The hospitality company rose more than 2% after the Wall Street Journal reported the company was in private talks with Barry Diller. Dillard’s People made an offer to buy the company in early June, but MGM has not yet formally responded to the offer. ENERGY STOCK — Shares of energy companies rose as oil prices rose more than 3% following new attacks between the U.S. and Iran over the weekend. Valero Energy rose 1.5% and ConocoPhillips rose 1%. APA Corporation rose 2%, while ExxonMobil and Chevron rose 1%. Fastenal — The industrial and construction supplies company rose 1% after Rothschild & Co. Redburn initiated coverage on the stock with a buy rating. Analysts at the company are bullish on Fastenal’s outlook, thanks to Fastenal’s shift toward larger and more complex customers. Shopify, Deckers Outdoor Group — Shares of both companies rose after Jefferies upgraded the stock to buy. Analysts at Jefferies said Shopify, which was up 2.5%, has strong fundamentals and agent commerce is a long-term tailwind. Deckers rose 2%, but analysts said there was upside potential thanks to product innovations at its Hoka sportswear brand.
