Daily Stock Watch: Why investors are watching Trump Media, Alphabet, and Verizon
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- Trump Media shares rose premarket after gaining 3% on Monday.
- The company announced it had accumulated $2 billion in bitcoin and related assets.
- Verizon, Archer Aviation, Alphabet, and Opendoor also saw notable premarket moves.
Trump Media, Verizon Communications, Archer Aviation, Alphabet, and Opendoor Technologies are on investors' minds.
This is where they were trading premarket as of 7 a.m. ET Tuesday —and what's driving the moves.
1. Trump Media & Technology
The move: The company that owns the social media platform Truth Social jumped almost 1.5% to $19.53 per share, after gaining 3% Monday.
Why: The company announced that it had accumulated about $2 billion worth of bitcoin and related securities following the signing of President Donald Trump's crypto bill on Friday.
2. Verizon Communications
The move: The stock was up about 0.4% to $42.68 a share, after rising 4% on Monday.
Why: Before the bell Monday, the telecommunications giant reported second-quarter earnings that beat analysts' estimates and upgraded its profit forecast for the year.
3. Archer Aviation
The move: The California-based company that develops electric vertical takeoff and landing aircraft was down nearly 3% to $11.49 a share after falling almost 11% on Monday.
Why: Its stock fell after a judge ruled that a lawsuit against the company can proceed. The lawsuit alleges that Archer Aviation, billionaire Ken Moelis, and others behind the merger deal that made Archer public misled shareholders about the value of shares.
4. Alphabet
The move: Alphabet rose 0.4% to $191.90 per share after rising nearly 3% on Monday.
Why: The company that owns Google saw a jump when several analysts raised their price targets ahead of it reporting its latest earnings results after the bell on Wednesday. Morgan Stanley cited a possible revenue boost driven by its generative AI efforts.
5. Opendoor Technologies
The move: The real-estate company has continued to rise, up 14% to $3.66 a share after gaining 42% on Monday.
Why: The surge came after a social media post by investor and Carvana spotter Eric Jackson, who said he expected a strong turnaround for Opendoor.