See which businesses are generating news during premarket trading.
Finding Financial Services Following CEO Roger Hochschild’s resignation, shares fell 6.5%. According to the corporation, board member John Owen will serve as interim CEO.
Turnstone Biologics: In premarket trading, the company’s stock fell 2.3%. Investment company Piper Sandler began covering the stock earlier on Tuesday and assigned it an overweight rating. On Tuesday, Bank of America also started covering Turnstone, but with a buy rating.
D.R. Horton — Shares of the homebuilder increased 2.2% in premarket trading following news that Warren Buffett’s Berkshire Hathaway had increased its ownership share in D. R. Horton by more than $700 million, according to a regulatory filing.
Hannon Armstrong Sustainable Infrastructure Capital — The renewable energy investment company increased 2.1% after Bank of America raised shares to a buy rating. The company predicted that Hannon Armstrong will probably reap the benefits of the Inflation Reduction Act.
Phillips 66: The Texas-based petroleum company’s stock dropped 2% as a result of Bank of America’s downgrading due to a less favourable risk-reward skew.
U.S. Banks — Shares of the biggest Wall Street banks, including Morgan Stanley, JP Morgan Chase, Bank of America, and Citigroup, were all trading slightly down.
Nvidia – Before the bell, this artificial intelligence favourite increased 1.5%. The prices that UBS, Wells Fargo, and Baird expect shares to trade at over the course of the upcoming year were all revised upward. After losing 8.6% last week, the stock gained ground on Monday, rising 7.1%.
Cliffs, Cleveland — Following a day in which they gained 8.8% for their greatest day of 2023, the steelmaker’s shares dropped more than 1% in the premarket. After its $7.3 billion purchase offer for U.S. Steel was turned down, the stock rose sharply.
Source (CNBC)
