Check out which companies are making headlines in pre-market trading. Nvidia – Shares fell 2% after China said a regulator had launched an investigation into the chipmaker. The State Administration for Market Regulation is looking into potential violations of antimonopoly law, according to the Chinese government. Advanced Micro Devices – The chipmaker's stock fell more than 1% after Bank of America downgraded it to neutral from buy. Analyst Vivek Arya pointed to potential market share losses as major technology companies signal their preference for Nvidia and other semiconductor manufacturers. Palantir Technologies – Shares rose more than 6% after the software platform company said it expanded its contract with U.S. Special Operations Command to develop artificial intelligence mission management. The value of the contract is approximately $37 million. Interpublic Group of Companies, Omnicom Group – Shares moved in opposite directions after the two companies announced that Omnicom would acquire Interpublic in a stock-for-stock deal. The deal is expected to close in the second half of 2025. Following the announcement, Interpublic shares jumped about 15%, while Omnicom shares fell about 3%. Macy's – Shares rose 3% after activist investor Barington Capital called on the department store chain to change its capital allocation plan and create a real estate unit to maximize the value of its assets. It also wants Macy's to reevaluate alternatives to its Bloomingdale's and Bluemercury operations. Dow Jones – Shares rose 4% on news that the chemical maker plans to sell a 40% stake in some US Gulf Coast infrastructure assets for $2.4 billion to a fund managed by Macquarie Asset Management. Reddit – The social media platform rose nearly 5% after an upgrade to overweight from equal weight at Morgan Stanley. Analyst Brian Nowak said he believes Reddit has not yet reached its full potential, especially with U.S. ad revenue growth that could be up to six times faster than its peers. Ad spending is also expected to increase with Reddit's technology adoption, which includes end-to-end automation and machine learning modeling. SoFi Technologies – The fintech stock fell 2% after its rating was downgraded to Underperform at Neutral at Bank of America. The investment firm said SoFi is “perfectly priced” after its recent rally. PayPal – Shares of the fintech company rose 2% after Bank of America upgraded the stock to buy from neutral. The company cited increased progress in its transformation after a year of some management changes. — CNBC's Fred Imbert, Jessie Pound, Lisa Kailai Han, Sean Conlon, Samantha Subin, Michelle Fox and Hakyung Kim contributed reporting.
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