Pre-market : Apple cross 3 Trillion: Nike Falls/ Stocks June 30

Pre-market active stocks

Gainers

• Carnival (NYSE:CCL) stock rose 3.3%; The shares of Carnival (NYSE:CCL) increased 3.3% after Jefferies changed its recommendation on the cruise line to “buy” from “hold,” noting that it is on track to develop into a long-term investment.
• Apple (NASDAQ:AAPL) stock rose 0.9%; Citi began coverage of the iPhone manufacturer with a ‘buy’ rating and a Street-high $240 per share price target, which helped the shares of Apple (NASDAQ:AAPL) rise by 0.9% and lift the company’s market worth past $3 trillion.
• Ford (NYSE:F) stock rose 0.7%; The share price of Ford (NYSE:F) increased 0.7% following the automaker’s announcement that it had identified a significant foreign investor for its German factory in Saarlouis and had signed preliminary agreements with the western state of Saarland.

Losers

• Nike (NYSE:NKE) stock fell 2.9% ; As cost-conscious consumers reduced their purchases in North America, the company’s largest market, Nike (NYSE:NKE) predicted first-quarter revenue below estimates on Thursday, sending its shares down 2.9%.
• Bausch + Lomb (NYSE:BLCO) stock fell 2.2%; The WSJ reported that Bausch + Lomb (NYSE:BLCO) will spend $1.75 billion to acquire a dry-eye medicine from Swiss pharmaceutical behemoth Novartis (NYSE:NVS). As a result, the stock of the eye health products firm dropped 2.2%.
• Constellation Brands (NYSE:STZ) stock fell 1.4%; The shares of drinks and brewing juggernaut Constellation Brands (NYSE:STZ) dropped 1.4% after it released cautious forecast and first quarter earnings that above expectations and were driven by strong growth in its beer sector.
• Alibaba (NYSE:BABA) ADRs fell 0.4% ; As it gets ready to separate from its parent business, Freshippo, the grocery division of the Chinese e-commerce giant Alibaba (NYSE:BABA), increased the number of its physical locations in China, causing ADRs to drop 0.4%.

MARKET MOVERS 

MIDDAY MOVERS

GAINERS

• Shares of Carnival Corporation (NYSE:CCL) gained 8% after Jefferies raised its rating for the cruise line from hold to buy with a price target of $17.16. Jefferies cited stronger sales and marketing activities as the reason for the increase in demand.
• Apple Inc (NASDAQ:AAPL)shares rose 1.4% By the close of trading, Apple Inc. (NASDAQ:AAPL)shares had risen 1.4% and were trading above the barrier required to make the iPhone manufacturer the first business to surpass a $3 trillion market value.
• United Airlines Holdings Inc (NASDAQ:UAL)shares were up 1.1% Shares of United Airlines Holdings Inc (NASDAQ:UAL) were up 1.1% after the airline said it was attempting to reduce flight disruptions following a week in which it had to cancel or postpone hundreds of flights. The airline industry was under pressure before the long weekend due to a combination of poor weather and a lack of staff for air traffic controllers. American Airlines Group (NASDAQ:AAL) shares increased 1%, while Delta Air Lines Inc (NYSE:DAL) shares increased by 1.6%.

LOSERS

• Shares of Nike Inc. (NYSE:NKE) dropped 2.3% after the sports clothing manufacturer reported a fourth quarter profit that fell slightly short of predictions, but beat on revenue projections thanks to a rebound in China.
• Dominion Energy Inc (NYSE:D)shares fell 0.7%; The electric power and natural gas provider reduced its second quarter operating earnings outlook from 58 cents to 68 cents per share to 44 cents to 50 cents per share, causing Dominion Energy Inc. (NYSE:D)shares to decline by 0.7%.

Upgrades by Experts

Citi begins to cover Apple with Buy

Citi began following Apple (NASDAQ:AAPL) with a Buy rating and a $240.00 price target.

Upgrade to Outperform for NVIDIA

NVIDIA (NASDAQ:NVDA) was upgraded by Daiwa Securities to Outperform from Neutral, and the company’s price objective was increased from $408.00 to $475.00.

After Jefferies boosted its price target for Carnival (NYSE:CCL) to $25.00 from $9.00 and upgraded the firm to Buy from Hold, pre-market shares of Carnival (NYSE:CCL) Increased by more than 2%.

Deutsche Bank raised its price objective on Frontline (NYSE:FRO) from $19.00 to $17.00 and upgraded the stock from Hold to Buy. Today’s pre-market share price increase was over 3%.

Downgrades by Experts

At JPMorgan, Citizens Financial was downgraded to Neutral.

JPMorgan expressed concerns about Citizens Financial’s (NYSE:CFG) capital requirements and profitability levels and downgraded the company to Neutral from Overweight and lowered its price objective to $27.00 from $29.00.

Citi downgrades Core Laboratories to Sell Core Laboratories (NYSE:CLB) shares fell more than 1% before the market opened today after Citi lowered its price objective for the firm from $22.00 to $21.00 and reduced it to Sell from Neutral.

Concentrix (NASDAQ:CNXC) was downgraded by BofA Securities from Buy to Neutral, and its price objective was decreased from $165.00 to $95.00. EPS and revenues came in below consensus projections when the company released its Q2 results earlier this week.

Sonder (NASDAQ:SOND) was downgraded by JMP Securities from Market Outperform to Market Perform.

Earnings Calendar

FRIDAY JUNE 30

Constellation Brands A (STZ)