Here are some of the biggest moves in US stocks before the market today
Shares of Pfizer (NYSE:PFE) rose 3.4% after Bloomberg reported that activist investor Starboard Value acquired a roughly $1 billion stake in the drug giant, seeking to boost the troubled company’s turnaround.
Shares of Apple (NASDAQ:AAPL) fell 1.4% after analysts at Jefferies downgraded the iPhone maker to “hold” from “buy,” citing concerns about overstated market expectations for the upcoming iPhone 16 and 17 models.
Shares of Netflix ( NASDAQ:NFLX ) fell 0.8% after Barclays downgraded the streaming giant to “underweight” from “equal weight,” citing its premium valuation.
Shares of Amazon (NASDAQ:AMZN) fell 1.8% after Wells Fargo downgraded the online retail giant to equal weight from overweight, citing multiple headwinds that are likely to derail the positive review story. of the company’s profits.
Shares of Hims Hers Health (NYSE:HIMS) rose 5.4% on news that the telemedicine group is eligible to join the S&P SmallCap 600, replacing fourth-largest U.S. cigarette maker Vector Group (NYSE:VGR).
Shares of Arcadium Lithium ( NYSE:ALTM ) jumped 30% after mining giant Rio Tinto ( NYSE:RIO ) announced a “non-committal” approach to buy the lithium producer.
Shares of Mullen Automotive ( NASDAQ:MULN ) fell 4% after the maker of commercial electric vehicles announced cost cuts that include a 20% reduction in staff.
DuPont (NYSE:DD) fell 1.8% after Barclays downgraded the chemical company to “underweight” from “equal weight,” citing limited upside from its spin-off strategy.
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Reference;
Nurse, P. (2024) Pfizer and Arcadium Lithium rise premarket; Apple, Amazon and Netflix fall By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/pfizer-and-arcadium-lithium-rise-premarket-apple-amazon-and-netflix-fall-3650854 (Accessed: 7 October 2024).
