Find out which companies are hitting the headlines before the bell rings.
JD.com (JD) – Shares of JD.com rose 1.4% in morning trading after the Chinese e-commerce giant appointed a new chairman. The company’s founder and CEO, Richard Liu, is stepping down from day-to-day operations, while Xu Lei, former CEO of JD Retail, will assume the role of chairman and assume these functions.
Boeing (BA) – Boeing shares fell 0.5% in pre-market trading after Ryanair, one of Boeing’s biggest customers, said it ended talks to buy the 737 MAX 10 jet. The deal is said to have been worth tens of billions of dollars. Ryanair cited price controversies.
Moderna (mRNA) – Biotech and pharmaceutical stocks fell 0.5% in morning trading, White House chief medical adviser Dr Anthony Fauci said following rollout of COVID vaccine booster injections -19 from Moderna in the United States. There may be a delay. Fauci said Pfizer’s booster shots would be ready by September 20; Pfizer shares rose 0.2% pre-market.
Spotify (SPOT) – Spotify shares rose 3.9% pre-market after KeyBanc upgraded the music streamer’s stock from equal to overweight. KeyBanc said that Spotify is growing its user base faster than its peers.
Johnson & Johnson (JNJ), Merck (MRK), Amgen (AMGN) – Morgan Stanley has downgraded several large-cap pharmaceutical stocks, saying the benefit of these names is limited. The company changed its ratings on Johnson & Johnson, Merck and Amgen from overweight to equal weight. All three names have descended into the premarket.
Terminix (TMX) – Shares of Terminix rose around 2% in the pre-market after Bank of America doubled up on the stock to buy from the underperformance. Bank of America said the pest management company’s turnaround “will take time to be fully distributed,” but sees “a more positive risk-return today.”
Cirrus Logic (CRUS) – Shares of Cirrus Logic gained more than 3% in morning trading after Barclays upgraded semiconductor stocks to more than equal weight. Barclays believe Cirrus Logic will gain more leverage over Apple over the next several years.
Match Group (MTCH) – Shares of Match Group rose 11.5% pre-market after the company was announced to join the S&P 500 later in September. Online dating company Perigo will replace the company.
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