The stocks making the biggest moves in the pre-market: Micron, Pioneer Natural Resources, Tesla and more

Check out the companies that made headlines in pre-market trading.

 

Micron Technology - The company's stock jumped more than 6 percent after news that Samsung Electronics plans to cut memory chip production in the near future. Many Wall Street analysts said the move could accelerate a recovery in the memory chip industry.

 

Pioneer Natural Resources - The company's stock jumped 7 percent before the bell after the Wall Street Journal reported that Exxon Mobil
 held informal talks to acquire Pioneer. Exxon shares fell 0.6%.

 

Tesla - Electric car stocks fell nearly 2 percent before the bell. Tesla said it plans to build a "mega-factory" to produce batteries in Shanghai and cut car prices again.

 

First Republic - Shares fell more than 3% after the regional bank suspended its preferred stock dividend.

 

Taiwan Semiconductor Manufacturing - U.S.-listed shares of Taiwan Semiconductor Manufacturing fell nearly 1% before the bell after the company reported lower monthly earnings.

 

Capital One Financial - Shares of the financial services company fell more than 4 percent in premarket trading after Capital One said Walmart intends to end its credit card partnership. Capital One said in a statement that Walmart has sued to terminate the agreement, while Capital One argues that the retail giant has no right to terminate the agreement early.

 

Block - Square and Cash App's parent company lost nearly 2% in the premarket after KBW downgraded the company to "market perform" from "outperform." The company said it was under pressure from a growing list of small risks.