Bloomin
Pre-Market:Pre-Market
Pre-Market active stocks
Gainers
- Agios Pharma (NASDAQ:AGIO) shares jumped 20% after the biotech reported good Phase 3 trial findings for a therapy for a rare blood condition.
- Bloomin Brands (NASDAQ:BLMN) shares increased 2.6% after the restaurant holding firm recruited two new board members as part of a deal with activist investor Starboard Value.
- Verizon Communications (NYSE:VZ) shares jumped 1.2% after KeyBanc raised its rating on the telecoms giant to ‘overweight’ from’sector weight,’ indicating that it has the ability to outperform the sector.
- The shares of Walt Disney Company (NYSE:DIS) climbed 0.4% after the entertainment conglomerate said that investment company ValueAct Capital will advise it on strategy and support its director nominations at the 2024 annual shareholder meeting.
Losers
- The shares of SoFi Technologies (NASDAQ:SOFI) plummeted 7.3% after Keefe, Bruyette & Woods downgraded the online personal finance business to ‘underperform’ from’market perform,’ noting its recent outperformance.
- Coinbase (NASDAQ:COIN) shares dropped 6.4%, as the cryptocurrency exchange suffered as bitcoin, the world’s most popular digital currency, plunged dramatically.
- Tesla (NASDAQ:TSLA) shares dipped 1.7% on Wednesday after the electric carmaker’s sales in China increased by 68.7% year on year last month, according to fresh statistics from the China Passenger Car Association, with the U.S. automaker facing tough competition in the world’s largest auto market.
- Apple (NASDAQ:AAPL) shares dipped 0.5% after research firm Counterpoint reported that the iPhone’s share of the global smartphone market declined in November.
- The shares of AIG (NYSE:AIG) declined 0.2% after Reuters reported that the business was the main insurer on a $130 million “all-risks” insurance for a Japan Airlines jet that crashed with another plane at Tokyo’s Haneda airport.
Stocks in focus
Apple (NASDAQ:AAPL)
Apple (NASDAQ:AAPL) witnessed a 0.5% decrease in its shares early on Wednesday following a downgrade from Barclays, marking a seven-week low. The reduction, motivated by worries surrounding the disappointing performance of the iPhone 15 and delayed recovery in Macs, iPads, and wearables, led analyst Timothy Long to alter his rating from Equal-Weight to Underweight and lower its price target to $160. Despite the release of new Macs with M3 processors, the recent quarter experienced a reduction in Mac business revenue from $11.5B to $7.6B. Long also voiced uncertainty about Apple’s services-related revenue growth, forecasting it to be capped at 10% in 2024, after achieving an all-time high of $22.3B in the prior quarter. The reduction resulted in a market value loss above $100B, with Apple’s shares ending at $185.64 and contributing to a 0.56% decrease in the broader S&P 500 index on Tuesday.
Moderna (NASDAQ:MRNA)
Moderna (NASDAQ:MRNA) extended gains by 1% on Wednesday, building on a 13% surge on Tuesday, after Oppenheimer’s upgrade from Perform to Outperform. The boost, spurred by confidence about Moderna’s commercial prospects and pipeline improvements, coincided with CEO Stéphane Bancel’s 2023 shareholder letter, stressing increasing U.S. market share for the COVID-19 vaccine. Oppenheimer analyst Hartaj Singh estimated that Moderna may be a five-product commercial player by 2026 and foresees sales growth restarting in 2025. Singh referred to impending product introductions, including vaccinations for respiratory syncytial virus and influenza. While he acknowledged probable hurdles in COVID-19 vaccine sales this year, Singh projected a resurgence in 2025 owing to greater education and investment on awareness. Oppenheimer sets a $142 per share objective for MRNA.
Johnson & Johnson (NYSE:JNJ)
Shares of Johnson & Johnson (NYSE:JNJ) were fractionally higher after biopharma Elektrofi struck a multi-million-dollar license and partnership arrangement with Janssen Biotech to develop a subcutaneous version of a cancer medicine for self-administration. The contract, handled by Johnson & Johnson Innovation, offered Janssen exclusive global rights to develop the cancer asset and up to four additional targets. Elektrofi will earn $18M upfront, over $155M in milestone payments per objective, and royalty on worldwide net sales when products are deployed.
Thermo Fisher (NYSE:TMO)
Thermo Fisher (NYSE:TMO) is in the limelight during premarket trading with probable near-term turbulence and promising long-term growth as its extended tender offer for Olink (OLK) hits its expiration today. With an amazing 97% shareholder acceptance rate, the $3.1 billion purchase, targeted at integrating Olink’s sophisticated proteomics technology, prepares TMO for an extended global reach and lays the groundwork for future development potential. The upshot of this strategy approach makes Thermo Fisher and Olink significant rivals for attention in today’s stock watchlist.
For Details
for Details read
Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin Bloomin
Airbnb suffers as a result of KeyBanc’s downgrade
Airbnb (NASDAQ:ABNB) shares were down nearly 3% in premarket trading Tuesday after KeyBanc downgraded the business from Overweight to Sector Weight.
Following the split, WK Kellogg began at Sell.
Following the conclusion of Kellogg Company’s (NYSE:K) spinoff of its North American cereal division into the WK Kellogg standalone entity, Goldman Sachs commenced coverage on WK Kellogg (NYSE:KLG) with a Sell rating and a price target of $11.00.
WK Kellogg’s stock dropped significantly on the first day after the spinoff, closing more than 9% down on Monday.
Nortfolk Southern and Bread Financial have been downgraded.
Norfolk Southern (NYSE:NSC) shares fell more than 2% on Monday after BofA Securities downgraded the firm to Neutral from Buy and reduced its price objective to $215.00 from $266.00, citing operational difficulties and excessive costs.
Bread Financial (NYSE:BFH) has been downgraded to Sell from Neutral by Goldman Sachs, with a $32 price target. As a result, shares dropped about 2% on Monday.
Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market: Pre-Market:
ell suffers as a result of a downgrade by Barclays.
Dell Technologies (NYSE:DELL) shares tumbled 3% before the bell on Thursday after Barclays downgraded the firm to Underweight from Equalweight, with a $53.00 price target.
Cloudflare began at Underperform.
Cloudflare (NYSE:NET) has been added to BofA Securities’ coverage with an Underperform rating and a $52.00 price objective.
Crocs (NASDAQ:CROX) shares were down more than 2% in pre-market trading today after B.Riley downgraded the firm to Neutral from Buy and reduced its price objective to $101.00 from $125.00.
Verint Systems (NASDAQ:VRNT) was downgraded from Outperform to Perform by Oppenheimer.
Following the company’s announced Q2 EPS and sales misses, as well as dismal full-year forecasts, shares fell more than 17% pre-market today.