Trending tickers: Apple, Beyond Meat, Rani Therapeutics, BitMine and B&M

Apple (AAPL)

Shares in Apple (AAPL) edged up just 0.3% in pre-market trading on Monday, despite fresh data indicating that early sales of its iPhone 17 series have outperformed last year’s model in China and the United States.

According to a report from research firm Counterpoint, sales of the iPhone 17 during its first 10 days on the market were 14% higher than those of the iPhone 16 series over the same timeframe in the two countries.

“The base model iPhone 17 is very compelling to consumers, offering great value for money,” senior analyst Mengmeng Zhang said in the report.

"A better chip, improved display, higher base storage, selfie camera upgrade – all for the same price as last year's iPhone 16."

Read more: Gold price rebounds as HSBC sees yellow metal hitting $5,000 in 2026

The sales boost comes as Apple continues to grapple with fierce competition in China, the world’s largest smartphone market. Over the past two years, the California-based company has struggled to retain its position among the country’s top five smartphone vendors, as local brands such as Huawei, Vivo and Oppo gain market share.

Last week, CEO Tim Cook visited China in an effort to bolster the company’s profile and promote its latest flagship device promote the product in the country.

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252.29

+4.84

+(1.96%)

At close: October 17 at 4:00:01 PM EDT Advanced Chart

Beyond Meat (BYND)

Shares in Beyond Meat (BYND) surged more than 50% in pre-market trading on Monday, extending Friday’s rally that saw the stock close around 25% higher as short sellers line up for a squeeze.

The rebound comes despite the plant-based meat producer’s steep decline from its former highs. Once valued at more than $10bn (£7.5bn), Beyond Meat now carries a market capitalisation of just $59.9m. Its stock has plunged more than 85% so far this year.

Read more: FTSE 100 LIVE: European stocks rise as China’s economic growth hits one-year low

The rally is being driven not by any material corporate developments, but rather a sudden spike in trading volume amid a classic short squeeze, where a heavily shorted stock experiences a sharp rise, forcing bearish investors to buy back shares to limit losses. That buying pressure, in turn, pushes the price even higher and short sellers make a profit.

Analyst sentiment remains broadly negative. Beyond Meat holds a “Moderate Sell” consensus rating, with a mean target price of $2.36, a level that now appears increasingly out of reach. Of the 10 analysts covering the stock, five rate it a “Hold,” while the remaining five recommend a “Strong Sell.”

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0.6456

+0.1256

+(24.15%)

At close: October 17 at 4:00:01 PM EDT Advanced Chart

Rani Therapeutics (RANI)

Shares in Rani Therapeutics Holdings (RANI) surged 32.5% to $2.18 in pre-market trading on Monday, extending a rally that saw the stock jump 248% on Friday following the announcement of a partnership with Japan’s Chugai Pharmaceutical (4519.T) and a $60.3m private placement.

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The California-based biotech firm signed a Collaboration and License Agreement with Chugai to co-develop and commercialise an oral version of a rare disease antibody, combining Chugai’s biologic therapy with Rani’s proprietary RaniPill oral delivery platform.

Read more: Stocks to watch this week: Tesla, Netflix, Intel, Lloyds and Unilever

Under the terms of the deal, Rani will receive an upfront payment of $10m, with potential development and commercial milestones of up to $175m. The agreement also includes tiered royalties on future sales. If Chugai opts to expand the partnership to cover up to five additional drug targets, the deal’s total value could exceed $1bn.

In parallel, Rani announced it had raised $60.3m through an oversubscribed private placement backed by investors including RA Capital Management. The capital raise is expected to close on 21 October.

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1.6400

+1.1691

+(248.27%)

At close: October 17 at 4:00:00 PM EDT Advanced Chart

BitMine Immersion (BMNR)

Shares in BitMine (BMNR) rose 5% in pre-market trading on Monday after co-founder and chief executive Tom Lee announced that the digital asset treasury firm would be launching a staking solution “very soon.”

In addition to the product news, Lee revealed he had purchased $1.5bn worth of ether (ETH-USD) following last weekend’s market crash, a move that signals strong conviction in the long-term value of the cryptocurrency. The veteran strategist described the purchase as a doubling down on what he views as a “long-term opportunity.”

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The staking solution would allow BitMine to lock up portions of its substantial ethereum holdings to earn yield, transforming idle assets into a recurring revenue stream.

BitMine currently holds 2.83 million ETH, representing roughly 2.5% of all ethereum in circulation. Alongside 192 BTC and $456m in cash, the firm’s crypto and cash reserves total approximately $13.4bn, making it the largest corporate holder of Ethereum and the second-largest overall crypto treasury after MicroStrategy (MSTR).

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49.85

-1.23

(-2.41%)

At close: October 17 at 4:00:00 PM EDT Advanced Chart

B&M (BME.L)

In London, shares in B&M (BME.L) dropped nearly 20% after the discount retailer issued its second profit warning in as many weeks and announced the departure of its chief financial officer following a £7m accounting error.

The FTSE 250-listed (^FTMC) company said it is searching for a successor to CFO Mike Schmidt, who is stepping down after the discovery of a mistake in how overseas freight costs were accounted for. The error, linked to an earlier update to B&M’s operating system, resulted in £7m of shipping expenses not being “correctly recognised in cost of goods sold.”

As a result, B&M has revised down its guidance for adjusted earnings in the year to March 2026 to between £470m and £520m, a cut from its previous forecast of £510m to £560m. For the first half of the year, it now expects adjusted profit to come in at £191m, compared with £198m previously.

The Liverpool-based retailer, which sells a wide range of goods from DIY tools and toys to pet food and everyday household essentials, said the system issue at the centre of the accounting mistake has been resolved. Schmidt will remain in his role until a replacement is appointed.

B&M shares have fallen nearly 50% so far this year.

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