Before the bell, see which firms are in the news.
Birkenstock — The shoe company increased 3.5% following UBS’s upgrade of its shares from neutral to buy. The investment bank highlighted robust expansion in the Asia region and increased average sales prices.
Chewy, GameStop— Chewy stock rose more than 16% after a regulatory filing revealed that meme stock trader “Roaring Kitty” purchased 9 million shares, representing a 6.6% position in the pet food e-commerce store. His second favourite stock, GameStop, fell roughly 7%.
Boeing, Spirit AeroSystems— Boeing announced on Monday that it would buy back fuselage maker Spirit AeroSystems for $4.7 billion in stock. Boeing shares fell 0.3%, while Spirit AeroSystems shares increased 4.5%.
Verizon — Shares increased 0.5% after Goldman Sachs initiated covering with a buy rating.Goldman Sachs predicts that Verizon’s shares will climb as the competitive landscape in the telecoms business improves.
The Intercontinental Exchange’s shares increased 1.4% following a Goldman Sachs upgrade to buy from neutral. Goldman stated the company’s earnings per share can grow more quickly, thanks in part to its leadership in the energy markets.
Nvidia – The chipmaker lost more than 1% in the premarket as the second half of 2024 began. Shares rose 150% in the first half of the year, as investors increased their hopes that artificial intelligence will boost profitability.
Source (CNBC)
