Premarket Stock Movements: Akamai Surges Over 21%, Scholastic and Nike Decline
Akamai Technologies surged over 21% in premarket trading after announcing a $11.6 billion seven-year power contract with Anthropic, along with granting the AI firm warrants to purchase up to roughly 5% of its shares at $111.33 each. Scholastic's stock fell more than 10%, following a wider-than-expected loss in Q1 fiscal results and declining revenue by 4%. Synopsys rose over 3% after HSBC upgraded it from hold to buy, citing potential as an AI growth beneficiary under its new business model. Nike shares dropped nearly 2% due to Bank of America downgrading the stock to underperform, anticipating sales declines through fiscal 2027. The movements reflect a mix of strategic deals and earnings disappointments impacting investor sentiment across sectors including cloud computing, publishing, software development, and consumer goods.
Tickers: $AKAM $BAC $HBCYF $NKE $SNPS
Topics: analyst upgrade/downgrade corporate deals earnings report stock price movement