The companies making headlines before the bell:
1. AZEK: Shares soared 23% after James Hardie Industries announced its acquisition in a cash-and-stock deal worth around $9 billion. James Hardie stock fell 11%.
2. Pinterest: Stock rose nearly 5% after Guggenheim upgraded it to ‘buy,’ citing an attractive entry point for investors.
3. ViaSat: Shares gained 4% following a Deutsche Bank upgrade to ‘buy,’ as the company explores reducing debt through asset monetization.
4. Steel Dynamics and Nucor: Both stocks increased 2% after UBS upgraded them to ‘buy,’ noting strong tariff protection for U.S. steel prices.
5. 23andMe: Stock plunged 44% after filing for Chapter 11 bankruptcy, with CEO Anne Wojcicki stepping down.
6. Boeing: Shares rose 2% on a contract win for the new F-47 fighter jet, with Melius Research upgrading the stock to ‘buy.’
7. Lockheed Martin: Stock slipped 2% after downgrades to ‘neutral’ and ‘hold’, amid concerns about earnings quality.
8. FedEx: Gained over 1% after Jefferies upgraded it to ‘buy,’ highlighting cost-cutting efforts as a growth driver.
9. Tesla: Shares popped nearly 4% after a nine-week losing streak, signaling renewed interest from investors.
Source (CNBC)
