Before the bell rings, see which businesses are in the news.
American Airlines – After TD Cowen raised its price objective to a Wall Street high and upgraded the airline from a hold rating to a buy, shares increased by more than 4%. Compared to Friday’s closing, the new target suggests an upside of over 47%.
Following a deal to merge its online live TV companies with Walt Disney, FuboTV, a streaming service, saw a 60% increase in value.
Boeing: Following an upgrade to overweight at Barclays, the aircraft stock increased by almost 2% before to the opening bell. A challenging 2024 for Boeing’s stock could pave the way for a recovery in the coming year due to robust production and deliveries.
Citigroup: Following Barclays’ upgrade to overweight from equal weight, the shares saw a 2% increase. After announcing yearly revenue growth and positive operating leverage for its businesses, the firm noted an improved outlook for large-cap banks and speculated that Citi might be at a tipping point.
Stocks of chips Following contract electronics firm Foxconn’s record fourth-quarter sales, chip stock prices increased on Monday.
U.S.-listed shares of Xpeng, a Chinese electric vehicle manufacturer, increased by over 4% on the company’s announcement that it intends to extend its partnership with Volkswagen in China, allowing both businesses to offer their extremely fast charging networks to each other’s clientele.
MicroStrategy: After the bitcoin proxy announced that it was aiming to raise up to $2 billion in preferred stock, shares of the company surged by roughly 4%. Purchasing more bitcoin and fortifying its financial sheet were the goals.
Microsoft: Following Bernstein’s $5 to $516 price target increase, shares increased by about 1%. Investors should soon get over their reservations about turning capital expenditures into income.
Plug Power: The maker of hydrogen fuel cell devices saw a 6% increase in premarket trading on Monday, following a 13% increase on Friday.
Chewy: The e-commerce stock increased by over 4% following Mizuho’s upgrade to outperform from neutral. Chewy’s recent surge in advertising is “opportunistic” and does not indicate a drop in pet-related spending.
Stocks of automakers increased after the Washington Post, which cited three people with knowledge of the situation, reported that President-elect Donald Trump’s aides are considering imposing tariffs on specific industries deemed essential to economic or national security rather than on all imports.
Source (CNBC)
