Stocks making the biggest moves in pre-market trading: AZN, PARA, NKE and more
Strikers from the Writers Guild of America picket with strikers from the actors’ guild SAG-AFTRA outside Paramount Studios in Los Angeles on September 18, 2023.
Mario Tama | getty images
Check out the companies making headlines before the bell rings.
AstraZeneca — Shares rose 1.4% after Jefferies upgraded the stock to a hold buy. The upgrade comes after one of the breast cancer treatments co-developed with Daiichi Sankyo received positive results from a late-stage clinical trial on Friday.
Urban Outfitters, foot storage box — Shares of Urban Outfitters fell 4%, and Foot Locker fell 2.9% before the bell after Jefferies downgraded the stock to put buying on hold. Jefferies said businesses could be affected by lower consumer spending.
Dow — Shares of the petrochemical company rose 1.6% in premarket trading Monday. JPMorgan upgraded the stock from neutral to overweight, citing upside potential from rising oil prices.
Nike — The athletic retailer fell 1.6% after Jefferies downgraded it to a hold buy. The company cited wholesale pressure and macro headwinds from China.
open door technology — The real estate company’s shares fell more than 6% after Citi lowered its price target for Opendoor from $3.90 to $2.70 per share. Citi cited the small number of existing homes on the market as a reason for concern about Open Door. Because the stock trades for less than $3 per share, small movements in nominal terms can translate into large percentage changes.
Chinese E-Commerce Stocks – Stocks Trading in the US JD.com and PDD Holdings As sentiment surrounding the Chinese economy worsened, they fell by 3.1% and 2.3%, respectively. A senior central bank member called for structural economic reforms, saying the country has limited room for further monetary easing.
Media Stocks — Media companies saw their shares rise after writers and studios reached preliminary labor agreements. Great and warner bros discovery Each rose about 2%. stock Amazon and Disney News also rose by 0.8% and 0.6%, respectively.
HP — The computer company’s stock price has since fallen about 3%. Berkshire Hathaway Sold 4.8 million shares of HP stock, or approximately $130 million.
sealed air — The food packaging company rose 2.7% after Citi upgraded the stock to buy from neutral. Analyst Anthony Pettinari noted the discounted valuation compared to historical averages and the potential for significant portfolio turnaround action.
Nio — U.S.-traded shares of the Chinese electric vehicle maker fell nearly 6%. Earlier in the day, Bloomberg News reported that the company was considering raising $3 billion in funding from investors. Nio later denied the report.
— CNBC’s Alex Harring and Jesse Pound contributed reporting.
