View the firms dominating premarket trading on Monday.
Tenable Holdings – The provider of exposure management solutions saw a 3% increase before the market opened as a result of JPMorgan upgrading it from neutral to overweight. According to the bank, the company is set up for greater business foundations in the future.
Alibaba — Shares fell 1% after departing CEO Daniel Zhang abruptly left the company’s cloud division. The business announced in June that Zhang was stepping down as chairman and CEO of the Alibaba Group to concentrate on the cloud intelligence division.
Qualcomm’s semiconductor stock increased 7.4% before the market opened on Monday after the company announced it would provide Apple with 5G modems for handsets through 2026. According to analysts, Qualcomm’s handset division will profit from continued sales to Apple and may lessen the impact of potentially losing a crucial client. Apple’s shares opened the market 1% higher.
Kenvue — Following Deutsche Bank’s upgrade to buy from hold, shares increased by 3% in early trading. The Band-Aid manufacturer’s decline, according to the Wall Street firm, has produced a tempting entry point. Since coming public in May, the J&J spinoff has decreased by 15%.
Tesla – The electric vehicle company’s stock increased by more than 6% before the bell as a result of Morgan Stanley upgrading shares from equal weight to overweight and highlighting the expansion of autonomous driving. Revenue from software and services was referred to as Tesla’s “largest value driver” by the Wall Street firm.
Source (CNBC)
