Before the bell, take a look at the businesses that are in the news.
Okta: Following Jefferies’ reduction of its shares from outperform to market perform, the cybersecurity business saw a 1.4% decline. Customers no longer trust Okta as a result of the security breach that was revealed on October 20, which Jefferies claims has severely damaged the company’s reputation.
Crown Castle: The stock of the wireless tower operator increased by more than 4% following a Wall Street Journal story revealing that activist investor Elliott Management now owns a more than $2 billion interest in the business. Based on sources cited in the paper, Elliott wishes to discuss strategies for increasing the stock price with the company.
Teva Pharmaceutical: After UBS upgraded the company’s shares to buy from neutral, they increased by 2.4%. UBS mentioned the pharmaceutical company’s promising future results from two significant clinical trials and its robust brand portfolio.
Mondelez — A 1.1% increase in shares followed RBC’s upgrade of the snack maker from sector perform to outperform, with rise in shares, a growing retail base, and improvements in category growth.
Foot Locker: The retailer of shoes and apparel fell 3.6% following Citi’s downgrade to sell from neutral. The bank claimed that Foot Locker faces difficult circumstances for a recovery.
stocks related to e-commerce On Cyber Monday, stocks increased slightly everywhere. About 0.6% was gained by Etsy and Amazon shares. While Walmart had a 0.2% increase, Ebay saw a 0.3% increase.
Source (CNBC)
