Premarkt Movers | SK Hynix Drops 5%; Aehr Test Systems Soars 31%; PayPal Jumps 12%

SK hynix fell 5% in premarket trading. The ADRs advanced 27% on Tuesday, more than offsetting a 9.3% decline from the prior session, which was influenced by a significant selloff in South Korea that affected US trading. The premium for SK Hynix ADRs compared to their shares listed in Korea has surged beyond 50%.

Shares of Aehr Test Systems rose 31% in premarket trading after the semiconductor equipment manufacturer swung to a profit in its fiscal fourth quarter. Aehr reported net income of $1.4 million, or 4 cents a share in the quarter ended on May 29, compared with a loss of $2.9 million, or 10 cents a share, in the same quarter a year earlier. Chief Executive Gayn Erickson said significant bookings, revenue diversification and growing demand across AI processors, silicon photonics and power semiconductors drove growth last fiscal year.

Payments company Stripe and private equity firm Advent International have made a joint offer to ​acquire PayPal for $60.50 per share, in a deal that would value the payments company at more than $53 billion, two people said. Driven by the news, the stock jumped 12% in premarket trading.