Before the bell rings, see which businesses are in the news.
Apple — Following Jefferies’ reduction of the iPhone manufacturer from hold to an underperform rating, shares fell by almost 2%.
Qorvo – The chipmaker’s stock rose 2% after being upgraded from equal weight to overweight at Morgan Stanley. With activist investor Starboard Value now holding stock in the company, the bank thinks Qorvo may see “a renewed earnings recovery path.”
3M. After the industrial behemoth posted fourth-quarter earnings that exceeded expectations, driven by higher sales of industrial adhesives, tapes, and electronics, the industrial stock surged 4%.
D.R. Horton – The homebuilder’s stock increased 4.5 percent following a positive fiscal fourth-quarter report. On $7.61 billion in revenue, D.R. Horton reported earnings per share of $2.61.
Vistra— A fire that began burning Thursday was declared extinguished by firemen on Monday, causing the power generation stock to increase 4.6%. Road restrictions and necessary evacuations were caused by the fire last week.
Moderna — Following a $590 million investment from the U.S. Department of Health and Human Services to expedite the development of its avian flu vaccine, Moderna’s stock increased 3.9%.
Stocks of electric vehicles in China — Trump’s decision to postpone tariffs by not enforcing them immediately during his inauguration caused shares of Chinese electric vehicle businesses to rise.
General Motors – Following a Deutsche Bank upgrade to buy from hold, the car shares increased 1.2%.
Ulta – After Morgan Stanley raised the price objective to $500, indicating a 23% upside, and upgraded the cosmetics store to overweight, shares increased 2.4%.
The parent firm of Truth Social is Trump Media & Technology Group. fell 6.7% the day following Donald Trump’s inauguration as the 47th president of the United States.
Roku – After JMP began covering the company with an outperform rating, its shares increased by 2.3%. Roku is the “best streaming platform in the United States.”
Source (CNBC)
