Check out the companies making the biggest pre-market moves: Alibaba — Shares rose 1.5% after Reuters reported that the company plans to sell its game development business. Lingxi Games is expected to be sold to private equity firm Truster Capital for more than $2 billion, Reuters reported, citing people familiar with the matter. Memory stocks — A number of stocks rose in premarket trading Monday after U.S. Commerce Secretary Howard Lutnick said in an interview with the Wall Street Journal that the Trump administration opposes Apple’s purchase of Chinese memory chips. In response, domestic memory chip manufacturers also rose. SanDisk rose nearly 5%, while Western Digital and Micron Technology rose more than 3%. Seagate Technology rose more than 2.5%. Intel — Shares rose about 1.5% after it was revealed that CEO Lip-Bu Tan bought more than 105,000 shares last week at $95 each. The acquisition was disclosed in a filing with the Securities and Exchange Commission after the bell on Friday. Semiconductor stocks — In premarket trading Monday, chipmakers started the week higher across the board. Marvell Technology and Arm both rose 2%. Applied Materials rose 1.5%, while Broadcom and Advanced Micro Devices both rose 1%. SoFi Technologies — The digital financial services company rose 2% after Piper Sandler initiated coverage of the stock with an Overweight rating. Analysts at the company said the current stock price level is an attractive entry point as the company faces an expanding addressable market with a strong product portfolio. Octa — Shares rose 1% after Wells Fargo upgraded the stock from equal weight to overweight. Analysts at the bank said businesses are increasingly prioritizing spending on identity, which could lead to enhancements to the company’s identity security offerings.
