Before the bell, take a look at the businesses that are in the news.
Boeing’s stock dropped more than 1% following NASA’s announcement on Saturday that it will rely on SpaceX to return two astronauts from the International Space Station.
PDD Holdings: The Temu parent company had a 16% decline due to unsatisfactory second-quarter earnings. The online retailer with headquarters in China reported revenue of 97.06 billion yuan, lower than the 100.17 billion yuan FactSet projection.
BJ’s: The wholesaler’s shares increased by more than 1% after JPMorgan upgraded it from underweight to neutral as it reinvests in its operations and gains from customers selling down.
Planet Fitness: Through year-end, Baird maintained his overweight rating and added the moniker of “bullish fresh pick,” driving shares up 1.5%. The company stated that it believes the fitness chain is a compelling bet in a market with slower growth.
Petrobras: After being upgraded from equal weight to overweight at Morgan Stanley, the Brazilian oil giant’s U.S.-listed shares saw a 2.3% increase. With the new CEO and CFO, the bank anticipates strategy continuity along with the return of special dividends.
SolarEdge Technologies: Following SolarEdge’s announcement that CEO Zvi Lando was leaving his position with immediate effect, shares increased by more than 6%. The interim chief executive is Ronen Faier, a former CFO.
Source (CNBC)
