Pre-Market active stocks
Gainers
- GameStop (NYSE:GME) stock gained 3% after the embattled video game retailer beat revenue projections and recorded a smaller-than-expected loss.
- McDonald’s (NYSE:MCD) stock jumped 0.8% after Wells Fargo upgraded the fast food giant to ‘overweight’ from ‘equal weight,’ stating the company is “firing on all cylinders.”
Losers
- C3.ai (NYSE:AI) shares plunged 10% after the artificial intelligence start-up indicated its route to profitability will be delayed, raising concerns about the company’s ability to capitalize on a boom in interest in AI.
- Dell Technologies (NYSE:DELL) stock slumped 2.8% after Barclays downgraded the tech business to ‘underweight’ from ‘equal weight,’ claiming that its AI presence will not be adequate to fend against macroeconomic challenges.
- Apple (NASDAQ:AAPL) stock slumped 2.6% after the Wall Street Journal reported that China is broadening its ban on iPhones to state-owned enterprises and government agencies, potentially affecting future demand in this vital market.
- Crocs (NASDAQ:CROX) stock dipped 2.5% after B.Riley downgraded the renowned shoe retailer from ‘buy’ to ‘neutral,’ citing concerns over surplus footwear inventory in stores.
- The shares of ChargePoint (NYSE:CHPT) fell more than 11% after the owner of EV charging stations missed revenue estimates in its quarterly results release.
UPGRADES BY EXPERTS
Stifel launched Lowe’s at Buy
Stifel initiated coverage of Lowe’s (NYSE:LOW) late Wednesday with a Buy rating and a $270 price target.
Morgan Stanley has upgraded First Solar.
Morgan Stanley boosted its price objective on First Solar (NASDAQ:FSLR) to $206.00 from $180.00 and upgraded it to Equalweight from Underweight.
UBS toast raised to Buy
UBS boosted its price target for Toast (NYSE:TOST) to $30.00 from $25.00 and upgraded it to Buy from Neutral.
Constellation Brands (NYSE:STZ) was upgraded to Outperform from Market Perform by TD Cowen, and its price objective was raised to $300.00 from $240.00.
Needham & Company raised its price target on Semtech (NASDAQ:SMTC) to $35.00 from Hold, ahead of the company’s Q2/24 earnings announcement today after the market close.
DOWNGRADES BY EXPERTS
Dell 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.
Earnings Calendar
Thursday, Sep 07
The Toro Company (TTC), DocuSign Inc. (DOCU), Guidewire Software Inc. (GWRE), Smartsheet Inc. (SMAR), Braze Inc. (BRZE), and John Wiley & Sons Inc. (WLY)
Friday, sep 08
  Kroger Company (KR)
for Details read
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.