Look at the firms that are generating news in the premarket trade.
1. Domino’s Pizza saw its shares surge over 6% following an announcement of a 25% dividend increase and an additional $1 billion allocated to its buyback program. The increased dividend will be paid out on March 9, while the additional stock repurchase was approved to commence at the end of the fourth quarter on Feb. 21.
2. HashiCorp experienced an 8% boost in its stock price after receiving an upgrade from Morgan Stanley from equal weight to overweight. The bank believes HashiCorp is set to benefit from a resurgence in cloud initiatives.
3. Berkshire Hathaway’s Class B shares, belonging to Warren Buffett’s conglomerate, climbed nearly 3% thanks to a nearly 30% year-over-year rise in operating earnings for the fourth quarter. Additionally, Berkshire’s cash reserves reached record levels.
4. Gap’s stock rose by nearly 2% following an upgrade from JPMorgan to neutral. The analyst praised the company for expanding its product range and focusing on cost-saving efforts.
5. Monday.com saw a 2% increase in its share price after Bank of America initiated coverage of the cloud platform company with a buy rating. Analyst Michael J. Funk highlighted the potential for the company to surpass consensus estimates while continuing to gain market share.
6. Fluence Energy’s shares climbed over 5% following an upgrade to positive from Susquehanna Financial. Analyst Biju Perincheril noted the company’s enhanced balance sheet and operational improvements, along with the recent dip in stock prices, as an attractive entry point for investors.
7. Moderna experienced a 1.6% dip in its biotech stock after being downgraded to reduce from hold by HSBC. The investment firm cited concerns about the effectiveness of Moderna’s RSV vaccine compared to its competitors.
Source (CNBC)
