Stocks making the biggest moves premarket: AMD, Estée Lauder, Dutch Bros., HP and more

Check out the companies making headlines in premarket trading. AMD — Shares added nearly 3% before the opening bell following news that the semiconductor company would acquire ZT Systems in a $4.9 billion deal. Estée Lauder — The cosmetics stock pulled back 4% after the the company issued a disappointing first-quarter earnings and full-year outlook, although it wasn’t clear if the figures are comparable to FactSet estimates. Dutch Bros — Shares of the coffee chain company were nearly 4% lower after Piper Sandler downgraded the stock to neutral from overweight, with analyst Brian Mullan asserting that the stock’s risk-to-reward skew is currently adequately balanced. Lineage — Shares of the warehousing firm inched 1% higher after Morgan Stanley listed the company as a top pick within its North America coverage universe. Analyst Ronald Kamdem highlighted the company’s M & A track record as well as its efforts to reduce debt. Taylor Morrison Home — The homebuilder stock moved 1.5% higher. BTIG upgraded Taylor Morrison Home to buy from neutral on Monday, citing increased confidence in the company’s long-term goals and the stock’s compelling valuation. HP — Shares dipped 2% after Morgan Stanley downgraded HP to equal weight from overweight, saying the tech company has limited upside. — CNBC’s Michelle Fox and Sarah Min contributed reporting