Adobe, Intel, Virgin Galactic rise premarket; SoFi Technologies falls

June 16, 2023 8:26 AM EDT -- Stocks in focus in premarket trade on Friday, June 16th. Please refresh for updates.

  • Adobe (NASDAQ: ADBE) stock rose 4.6% after the software giant beat quarterly expectations as the Photoshop maker's efforts to drive up demand with generative artificial intelligence integrations paid off.

  • Intel (NASDAQ: INTC) stock rose 1.2% after the chipmaker announced plans to invest up to $4.6 billion in a new semiconductor assembly and test facility in Poland, as part of a multi-billion-dollar investment drive across Europe to build chip capacity.

  • Virgin Galactic (NYSE: SPCE) stock soared 40% after the space tourism company announced its long-awaited commercial spaceflight service would launch later this month.

  • Microsoft (NASDAQ: MSFT) stock rose 0.7%, continuing its positive trend after the tech giant posted a new record high close as market optimism about the prospects of artificial intelligence has helped the stock climb to a record market capitalization of $2.59 trillion.

  • Nvidia (NASDAQ: NVDA) stock rose 1.6%, continuing to push higher after Morgan Stanley raised its price target on the software company, calling it its top pick in the AI space.

  • SoFi Technologies (NASDAQ: SOFI) stock fell 7% after both Bank of America and Piper Sandler downgraded the personal finance company as interest rates moved higher.

  • Nikola (NASDAQ: NKLA) stock rose 18.5% after the electric truck maker's top shareholder and founder, Trevor Milton, urged investors to vote against the proposal to increase the number of shares it is allowed to issue and called for a change in leadership.

  • iRobot (NASDAQ: IRBT) stock climbed 23.5% after Britain's competition regulator cleared Amazon's (NASDAQ: AMZN) planned $1.7B acquisition of the maker of Roomba vacuum cleaners.

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