See the companies making headlines in premarket trading. ResMed, Eli Lilly – ResMed plunged 11.8% after a press release last Friday that said Eli Lilly’s weight-loss drug tirzepatide reduced the severity of obstructive sleep apnea. Eli Lilly, on the other hand, posted an increase of about 1%. RXO – Freight inventory rose 12.7% after purchasing UPS’s Coyote Logistics unit. RXO paid UPS more than $1 billion for Coyote. Shares of UPS were unchanged in premarket trading. Nvidia – The artificial intelligence darling fell 1.8%. That built on last week’s decline, with mega-cap tech stocks retreating about 4% to snap an eight-week winning streak. Jefferies raised its price target on the stock over the weekend, implying that the shares now have an upside of about 19% from last week’s closing level. Carrier Global – Heating and ventilation stocks rose 2.3% thanks to an upgrade from Citi to neutral. Citi said the company can become an alternative pure-play HVAC supplier with a multiple that improves after the business transformation is completed. Ferrari – Shares of the luxury car maker rose 1.6% as Wall Street digested the company’s electric vehicle plans. UBS raised its price target for the stock after Ferrari’s new factory was unveiled on Friday. Planet Fitness – The budget-friendly gym chain climbed 3.1% after TD Cowen named the stock a top pick and upgraded its rating to exit the hold. TD Cowen called the company an “early turnaround,” citing a hard-to-ignore catalyst path and valuation upside. Confirm – The ‘buy now pay later’ share rose by 3.2% after Goldman Sachs introduced a buy rating. Goldman said the company is a leader in modern lending and noted its strong underwriting business. Anheuser-Busch InBev – Shares of the brewery rose almost 3% after an upgrade at UBS to buy from neutral. The bank said it sees an inflection point in growth, margins and cash returns. IBM – The old tech giant rose 1.4% after Goldman Sachs initiated coverage with a buy rating. The company said IBM is on track to sustain long-term revenue and free cash flow growth, driven by the growth of AI productions and services. Cinemark – Shares fell 3.3% after Roth MKM upgraded the U.S. cinema chain to buy from neutral, citing “meaningful box office improvement.” – CNBC’s Michelle Fox, Sarah Min and Jesse Pound contributed reporting
NVDA, RACE, PLNT, CNK, more
Leave a comment
Stay Connected
Travel
Real-estate
Must Read
