Today’s Stocks to Watch: Super Micro, Tesla, and Macy’s
Key Points To Watch Out For:
- Super Micro shares rally on exceptional Nasdaq expansion
- Macy’s shares surge after activist investor intervention
- Workday and Apollo shares respond favorably to inclusion in the S&P 500
Super Micro (SMCI): Extraordinary Extension from Nasdaq
Super Micro Computer (SMCI) secured an extraordinary extension from Nasdaq to file its overdue annual report. This development fueled investor optimism, propelling the stock up by 10% in pre-market trading. Renowned for its expertise in developing artificial intelligence servers, Super Micro continues to draw significant interest despite ongoing regulatory challenges.
Macy’s (M): Activist Investment Boosts Shares
Macy’s shares rose by 3.7% after activist investor Barington Capital acquired a stake in the department store chain. Barington Capital aims to implement strategic changes, including establishing a separate real estate division, to enhance the company’s market performance and unlock shareholder value.
Workday (WDAY) and Apollo (APO): Inclusion in the S&P 500
Shares of Workday and Apollo Global Management advanced in the pre-market following the announcement that both companies will join the S&P 500 on December 23. This inclusion is part of the index’s quarterly review, replacing Qorvo (QRVO) and Amentum (AMTM).
Tesla (TSLA), Rivian (RIVN), and Lucid (LCID): Booming Sales in China
Tesla, along with EV competitors Rivian and Lucid, experienced pre-market gains as the China Passenger Car Association reported robust growth in auto sales for November. Tesla sold 78,856 vehicles in China, solidifying its dominance in the sector and contributing to a positive sentiment across the electric vehicle industry.
Interpublic (IPG) and Omnicom (OMC): Strategic Merger in Progress
Interpublic (IPG) surged more than 15% in pre-market trading, while Omnicom (OMC) fell nearly 4% following reports of advanced merger negotiations between the two advertising giants. The proposed merger aims to establish the combined entity as the world’s largest advertising company by net revenue, surpassing WPP.
Results Expected After the Closing
Investors are eagerly awaiting financial results from Oracle (ORCL), which will be released after market close. Reports from Toll Brothers (TOL) and Casey’s General Stores (CASY) are also anticipated and could influence broader market sentiment.