Check out the companies making headlines before the bell. Solar stocks — Companies in the space got battered as the Senate’s version of President Trump’s tax bill would phase out renewable energy incentives . Shares of Enphase Energy dropped 20%, while First Solar and Sunrun slid 16% and 36%, respectively. SolarEdge Technologies pulled back 30%. Verve Therapeutics — Shares rallied 77% in the premarket after the gene editing company agreed to be acquired by Eli Lilly for $10.50 per share, a premium of 67.5% on the company’s last close. The deal, which is worth up to $1.3 billion, is expected to close in the third quarter. Eli Lilly shares fell slightly. Roku — The streaming stock popped 2% following an upgrade to a buy rating from hold at Loop Capital Markets. Analyst Alan Gould’s new price target to $100 — up from $80 — implies upside of 22%. Roku gained 10% on Monday after announcing an exclusive partnership with Amazon that would enable advertisers to reach roughly 80 million U.S. households. Microsoft — Shares fell nearly 1% after The Wall Street Journal, citing people familiar, reported tensions between Microsoft and OpenAI over their AI partnership have reached a boiling point. Lennar — Shares of the homebuilder rose 2.5% after revenue for the fiscal second quarter came in stronger than expected. Lennar reported $8.38 billion in revenue, less than the FactSet consensus of $8.18 billion. T-Mobile US — The telecommunication stock fell 4.4% after Bloomberg and Reuters reported that Softbank sold 21.5 million T-Mobile shares in an unregistered, overnight sale for $224 each. SoftBank raised about $4.8 billion, per the reports. — CNBC’s Fred Imbert, Lisa Han, Alex Harring, Sarah Min and Brian Evans contributed reporting.
Stocks making the biggest moves premarket: RUN, VERV, TMUS