Look at the companies making headlines in premarket trading.
ResMed, Eli Lilly — ResMed fell 11.8% after it was announced last week that Eli Lilly’s tirzepatide weight loss medication reduced the severity of obstructive sleep apnea. Eli Lilly, on the other hand, increased by approximately 1%.
RXO – After acquiring the Coyote Logistics unit from UPS, the goods stock increased by 12.7%. RXO paid more than $1 billion to UPS, whose shares remained unchanged in premarket trade.
Nvidia – The artificial intelligence powerhouse fell 1.8%. This followed last week’s decline, with the megacap technology stock falling approximately 4% to end an eight-week winning streak. Jefferies boosted its price objective on the stock over the weekend, meaning that shares were now up approximately 19% from last week’s closing price.
Carrier Global— The heating and ventilation shares rose 2.3% after Citi upgraded it to buy from neutral. Citi believes the company can become an alternative pure play HVAC provider with an improved multiple once its business change is complete.
Ferrari shares rose 1.6% as Wall Street absorbed the luxury automaker’s electric vehicle aspirations. UBS upped its price estimate for the shares after Ferrari’s new facility was revealed on Friday.
Planet Fitness — The low-cost gym company jumped 3.1% after TD Cowen designated it a top pick and increased its rating to buy from hold. TD Cowen referred to the company as a “early turnaround play,” citing a difficult-to-miss catalyst route and value upside.
Affirm – The purchase-now-pay-later shares rose 3.2% following Goldman Sachs’ introduction with a buy rating. Goldman described the company as a leader in the modern credit area, highlighting its excellent underwriting business.
Anheuser-Busch InBev — Shares of the brewing company rose roughly 3% after UBS upgraded it to buy from neutral. The bank predicts an inflection point in growth, profits, and cash returns.
IBM gained 1.4% after Goldman Sachs initiated coverage with a buy rating. IBM is on pace to maintain long-term revenue and free cash flow growth, which will be driven by increased AI productions and services.
Source (CNBC)
