SSNLF - 4 stocks to watch on Monday: Tesla First Republic Bank and more

2023-04-10 08:17:10 ET

Wall Street highlights levels of uncertainty on Monday morning as futures tilted lower after a shortened holiday trading week. Here are some stocks to watch on Monday:

• Shares of Tesla ( NASDAQ: TSLA ) have come down 2.3% as the electric vehicle maker was sued by a California owner in a prospective class action lawsuit amid allegations that the company routinely violated customer privacy with its cameras.
• First Republic Bank ( NYSE: FRC ) was under pressure early on as the stock fell 3.4% in premarket trading after the organization announced on Friday that it is suspending payment of its quarterly cash dividend on seven series of its preferred shares.
• Taiwan Semiconductor Manufacturing Company ( NYSE: TSM ) has come down 1.2% on Monday morning as the chip company stated that it was working with the Biden Administration on "guidance" on how to proceed with its application for U.S. CHIPs Act funding. At the same time, TSM posted a monthly revenue drop , as March revenue was NT$145.41B, a decrease of 10.9% M/M and 15.4% Y/Y.
• Also on the move was Micron Technology ( NASDAQ: MU ) as shares marched higher by 6% during premarket trading after fellow chipmaker Samsung Electronics ( OTCPK:SSNLF ) announced plans to reduce its memory chip production.

Looking ahead and investors have now turned their attention towards corporate earnings and inflation data which is set to be released later this week which can provide clues on the Federal Reserve's policy decision in May.

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