Trump Media & Technology Group shares rose about 1.5% in premarket trading after falling more than 5% on Monday after the company reported its first quarterly net loss as a public company.
Trump Media has a market capitalisation of $5bn (£3.9bn) but the owner of Truth Social revealed that it made just $837,000 in revenue last quarter, down 30% on the year before, and the company lost a further $16.4m in its first quarter since listing.
Stocks rebounded before the market opened after President Trump held a two-hour interview with billionaire Elon Musk at X.
The former president returned to the social media platform just hours before the conversation. Trump's last post to the X account was on August 24, 2023.
During the interview, Trump praised Musk for firing employees for better working conditions. “You're the best firer,” Trump said. “I mean, the way you do it, you come into a company and you just say, 'You want to quit?' And they go on strike — I don't want to say the name of the company, but they go on strike. And you say, 'All right, you're all fired.'”
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The Republican presidential candidate also awkwardly commented that his Democratic rival, Kamala Harris, looks “beautiful” on the new cover of Time magazine and “looks a lot like the great First Lady, Melania Trump.”
Nvidia (NVDA)
Nvidia shares surged more than 4% in trading on Monday before consolidating, falling about 1% in pre-market trading.
The company's shares rose on news that the graphics processing unit (GPU) leader had signed a new AI training contract with the state of California.
The artificial intelligence (AI) darling's shares have fallen recently amid growing concerns about a broader economic slowdown, and shares also plummeted last week following news of delays to its next-generation AI processor.
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But analysts at Bank of America called the stock a top pick, and UBS suggested Blackwell's semiconductor delays may not be as significant as initially thought.
Analysts at UBS said they now expect AI chip shipments to be delayed by four to six weeks, rather than the three-month delay initially reported. The investment bank said such delays “would not impact most, if not all, end customers.”
The stock is up about 120% this year but is still down from its highs earlier this summer.
Alphabet (GOOG)
Shares of Google's parent company were little changed in premarket trading, even as the company prepares to unveil its latest mobile devices, with a big announcement expected later on Tuesday.
The company is widely expected to unveil its Pixel 9 smartphone series at its “Made by Google” event in California on Tuesday night.
The announcement will come earlier than usual, with Google announcing the next iPhone before Apple, which usually announces it in September.
Ben Wood, smartphone expert and principal analyst at CCS Insight, told Reuters that Google is trying to get ahead of its rivals with its new AI tools.
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“It's interesting that Google is holding this event in August instead of the usual October, as we believe this is an effort to get ahead of Apple's iPhone event in September, particularly with regards to AI announcements,” he said.
“Apple will likely focus on why the iPhone is the 'best phone for AI,' so it wouldn't be surprising to see some overlap in potential use cases between the new Pixel phones and the new iPhones.”
“As a result, Google's earlier announcements could put it in a position to be the first to unveil new AI capabilities and establish leadership in the space.”
The company gave a brief look at the Pixel 9 Pro in a video, hinting that AI and Gemini will be a big part of the device.
Barrick Gold (Gold)
Shares of mining company Barrick Gold rose 9.1 percent to $18.99 on Monday after the company reported better-than-expected second-quarter profit but fell before the Wall Street open.
Barrick reported second-quarter non-GAAP earnings per share of 32 cents, beating analysts' expectations of 27 cents.
The company said revenue reached $3.16 billion (£2.46 billion), up 11.7% on the same period last year. Operating cash flow increased 53% on the previous quarter to $1.16 billion, and free cash flow reached $340 million.
Like other gold mining companies, Barrick has benefited from rising gold prices, which have hit a number of record highs this year.
The company reported gold production of 948,000 ounces, beating expectations of 905,800 ounces, easing concerns about production.
Barrick also said it began repurchasing shares during the quarter as part of a $1 billion program announced in February.
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