Cree and Cirrus Logic fell after Bank of America cut its rating on the semiconductor makers to underperform from neutral.

Chip giant sees strength in cloud, 5G, broadband and other sectors continuing.

Cree's gross margin widened 3 percentage points and its revenue forecast trailed estimates. Analysts cut their targets and the stock is lower.

Stocks moving in premarket trading Wednesday include Target, Lowe's, Moderna, Tilray, Cree and Analog Devices.

Texas Instruments reported second-quarter results ahead of estimates, but its third-quarter guidance disappointed.

Firms such as Cree, ADI and NXP are poised to see strong growth in their EV-related sales over the next decade.

Cree says the sale of its LED unit will help create a 'pure-play global semiconductor powerhouse.'

For the fiscal 2021 first quarter, begun June 29, Cree anticipates an adjusted loss of 20 cents to 24 cents per share.

In addition to announcing their merger, ADI and Maxim also each hiked their quarterly sales guidance. But many investors apparently have concerns about the price.

But he thinks the Fed must keep raising interest rates to quell inflation. And he expects continued market volatility.

Britain's new government said it will continue focusing on tax cuts and new borrowing to boost growth even as markets push the pound to a record low against the U.S. dollar.

With interest rates soaring, credit card consumers may be in for a shock