By George Glover
Stock futures were falling on Monday after President Donald Trump threatened to " hit and obliterate" Iranian power plants if Tehran didn't reopen the Strait of Hormuz within 48 hours.
These stocks were making moves in premarket trading:
Tesla slipped 2.6%. CEO Elon Musk unveiled the Terafab project on Saturday night, announcing plans to build a semiconductor manufacturing plant. The project will be a joint venture among Tesla, xAI, and SpaceX, and the initial stages are expected to cost tens of billions of dollars.
Super Micro Computer Inc. fell 5%. Shares plummeted 33% on Friday after the U.S. government charged a co-founder of the company and two other individuals for an alleged plan to divert U.S.-assembled servers to China in a violation of export-control laws.
Synopsys climbed 2.4%. Elliott Investment Management has a multibillion-dollar stake in the chip-design software maker and plans to push for it to make more money from its software and services, The Wall Street Journal reported, citing people familiar with the matter. Elliott and Synopsys didn't immediately respond to requests for comment from Barron's.
Newmont plunged 7.1% and Freeport-McMoRan tumbled 3.3%. Shares in the gold miners were slumping as gold extended a recent selloff. Investors are fretting that the Iran war will drive up inflation, which would strengthen the case for central banks to keep interest rates elevated. When borrowing costs are higher, gold becomes less appealing relative to interest-bearing assets like bonds.
Vertiv slid 3%, Lumentum dipped 3.4%, Coherent dropped 4.2%, and EchoStar was 2.3% lower. The four stocks are set to join the S&P 500 before the market opens on Monday. They were taking a hit as market sentiment soured following Trump's latest Iran comments.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 23, 2026 06:42 ET (10:42 GMT)
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