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An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. The Wall Street firm said the software stock is at an attractive entry point after its recent pullback. Exxon Mobil , Chevron , Occidental Petroleum — Energy stocks popped as oil prices rallied following the Hamas attack on Israel over the weekend. Blue Owl Capital — Shares of the investment company dropped 2.6% after Oppenheimer downgraded Blue Owl Capital to perform from outperform. Lockheed Martin — The aerospace and defense company saw shares rise about 4.5% in premarket trading following the surprise attack on Israel by Palestinian militant group Hamas over the weekend.
Persons: Walt, Nelson Peltz's, Trian's, Trian, Saket Kalia, Oppenheimer, Bristol Myers, Tesla, Lockheed Martin, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li, Tanaya Macheel, Pia Singh Organizations: Exxon, Walt Disney —, Street Journal, Management, JPMorgan, Spotify Technology, Barclays, Oracle, ISI, Exxon Mobil, Occidental Petroleum — Energy, Chevron, Occidental, Owl, Mirati Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Lockheed, Hamas Locations: Brooklyn, New York City, Chevron, Israel, China, Palestinian
Ford — Shares popped about 3% in midday trading after a CNBC report said both Ford and the United Auto Workers union are making headway on negotiations as the strike continues. Squarespace — The website builder popped about 5% after UBS initiated coverage of the stock at a buy. Scholastic — The publishing and media company stock plummeted more than 14% after reporting an earnings miss on the top and bottom line. Shares popped nearly 25% during its Nasdaq debut on Sept. 14 but are now trading just above the stock's $51 initial public offering price. Chinese e-commerce stocks — U.S. shares of both PDD and Alibaba added roughly 4% and 5%, respectively, while JD.com stock climbed 2.2%.
Persons: Canaccord Genuity, Alibaba, — CNBC's Pia Singh, Alex Harring, Hakyung Kim, Samantha Subin Organizations: Ford, CNBC, United Auto Workers, UBS, Scholastic, FactSet, Arm Holdings, Susquehanna, Nasdaq, Deere, Bloomberg, Activision, Microsoft
AstraZeneca — Shares of the British pharmaceutical company gained more than 2.7% in premarket trading after the company reported positive results for its drug Dato-DXd in a trial for treating a common type of breast cancer. Wayfair — Shares gained more than 2% after Bernstein upgraded home merchandiser to market perform from underperform. Chinese e-commerce stocks — U.S. listed shares of Alibaba and PDD Holdings added nearly 4% in premarket trading, while JD.com rose 3.3%. Arm Holdings — Shares of the chip designer added 1.3% during premarket trading. Yeti — Shares gained about 3% in the premarket.
Persons: Bernstein, Canaccord Genuity, Wells, Ralph Lauren —, Raymond James, Rick Patel, Jefferies, — CNBC's Pia Singh, Sarah Min, Samantha Subin, Tanaya Macheel, Brian Evans, Michelle Fox Organizations: AstraZeneca, AstraZeneca —, U.S, PDD Holdings, Bloomberg, Seagen, Deere, Susquehanna, Communications Locations: COVID, Smithfield, Sydney, DXd, Alibaba, China, drinkware
Starbucks — Shares fell 2% in midday trading following a downgrade to market perform from TD Cowen. Instacart — The grocery delivery stock roared out the gates as it debuted on the public market midday Tuesday, with shares popping about 12.3% and closing at $33.70. Planet Fitness — Shares of the gym franchise slid 4.2% after JPMorgan downgraded the stock to a neutral rating from overweight. The Wall Street firm also upgraded Carnival to hold from sell, sending shares nearly 0.5% higher. Raymond James earlier upgraded Rackspace to outperform from market perform and said it likes the company management's execution.
Persons: TD Cowen, Andrew Charles, George Wang, Evercore, Chris Rondeau, Lab's, Lazard, Goldman Sachs, Raymond James, — CNBC's Brian Evans, Jesse Pound, Samantha Subin, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Starbucks, Disney, Barclays, Deere, JPMorgan, Bank of America, Truist, Technology Locations: Alhambra , California, Los Angeles, China, New Zealand
Check out the companies making headlines in premarket trading. DoorDash — Shares added nearly 2% after being upgraded by Mizuho Securities to buy from neutral on Sunday. Micron Technology — The stock gained about 1.6% premarket after Deutsche Bank upgraded the memory and storage solutions company to buy from hold on Sunday, and also raised its target price. Arm Holdings — Shares of the semiconductor company fell 3.7% in premarket trading as the newly public Arm tries to find its level in the market. Bernstein initiated coverage on Monday with an underperform rating, saying it was too early to say Arm will be an AI winner.
Persons: MoffettNathanson, PayPal's, Alex Chriss, Bernstein, , Macheel, Jesse Pound, Michelle Fox Theobald Organizations: PayPal, Mizuho Securities, Micron Technology, Deutsche Bank
Moderna — The pharmaceutical company lost more than 8% Monday, making it the biggest decliner in the S&P 500. Enphase Energy — Shares lost 2.6% after Citi lowered its price target on shares to $170 from $209 while keeping its buy rating. The new price target implies 41% upside from Friday's close. Analyst Chris Quintero highlighted the growth opportunity for the company following a strong investment cycle. The investment bank bumped up the stock's price target to $40 from $37, citing Simply Good Foods' diverse product offering and shifting consumer preferences to healthier choices as catalysts.
Persons: Bernstein, Needham, Noubar Afeyan, Moderna's, Goldman Sachs, Mark Delaney, PayP, Ralph Lauren —, Ralph Lauren's, TD Cowen, Cowen, Tenable, Morgan Stanley, Chris Quintero, Raymond James, ASGN, Wells Fargo, , Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: — Petroleum refiners Valero Energy, Marathon Petroleum, West Texas Intermediate, Brent, Energy, Arm, Nasdaq, Securities and Exchange Commission, Pharmaceutical, Pfizer, U.S, Tesla, PayPal, MoffetNathanson, Guggenheim, Enphase Energy, Citi, Tenable Holdings, Mizuho, Aldi, Lowe's, Micron Technology, Deutsche Bank, Paramount, Disney, Warner Bros Discovery, Iridium Communications, Iridium Locations: Valero Houston, Houston , Texas, U.S
General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto Workers national strike in Bowling Green, Kentucky, October 10, 2019. Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. General Motors , Ford , Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. Adobe — Shares fell 3.4% on the back of the company's fiscal third-quarter earnings report Thursday.
Persons: , Piper Sandler, Piper, Morgan Stanley, Wells, Apellis, Stellantis, MoffettNathanson, Needham, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Motors, General Motors, United Auto Workers national, Pharmaceuticals, Ford, United Auto Workers, Unity, Bank of America, Arm, Nasdaq, JPMorgan, LSEG Locations: Bowling Green , Kentucky, — The Cleveland, DoorDash, British
Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.
Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform
Total: 8