Hot Stocks: JPM, GME, EA gain ground while AVGO falls on M&A talks
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In premarket trading JPMorgan Chase (NYSE:JPM) gets a jolt as the firm boosted its net interest guidance. At the same time meme stock GameStop Corp. (NYSE:GME) also builds momentum as the organization rallies on the launch of a new wallet for crypto and NFTs.
Electronic Arts (EA) is also rising Monday morning as the California based company is reportedly committed to fining a takeover or merger deal. In other M&A news, Broadcom (NASDAQ:AVGO) has watched its shares fall lower as the company looks at a potential VMware (VMW) deal.
Gainers:
JPMorgan Chase (JPM) has risen 1.4% in Mondayâs premarket trading session as the financial institution upped its 2022 net interest income guidance. JPMorgan now expects that its 2022 net interest income will surpass $56B, up from its previous guidance of $53B+.
Meanwhile, GameStop Corp. (GME) ticked up 2.1% in premarket action as the firm publicized the launch of its digital asset wallet. The latest launch will provide gamers and others the ability to store, send, receive and use cryptocurrencies along with non-fungible tokens across decentralized apps without having to leave their web browsers.
Electronic Arts (EA) also finds itself trending higher as the stock is up 3.8% on the news that the organization is seeking to find a merger deal with an entertainment powerhouse or be taken over by one after its reported failed deal with NBCUniversal.
Decliner:
At the other end of the spectrum, market participants watched Broadcom Inc. (AVGO) drop 4.9% in early Monday trading as the company has indicated a on a potential deal to acquire VMware (VMW), which investment firm Bank of America said could create "overhang" on its shares.
To keep track of Wall Street's biggest winners and losers throughout the session, click over to Seeking Alpha's On The Move section.