Stocks making the biggest moves before the bell: McDonald’s, Tesla, Stellantis and more
Have a look at the companies that are currently capturing the spotlight in premarket trading.
— The renowned fast food heavyweight experienced a minor dip in premarket share values after it unveiled Q2 results that fell short of market predictions. The company also reported a decrease in its same-store sales – a crucial metric for restaurants.
— Share values of this life sciences enterprise jumped by 6% following the release of Q2 results that surpassed predictions. Adjusted earnings of $1.22 per share exceeded the FactSet consensus estimate of $1.12 per share, while the revenue of $691.7 million outstripped analyst predictions of $690.3 million.
— The acclaimed manufacturer of chemical products saw a 1.4% increase after receiving an upgrade to overweight from a neutral rating by JPMorgan. The firm praised Olin’s success in stabilizing the prices for chlorine and caustic via low capacity utilization.
— Guggenheim’s upgrade of its shares to a buy rating led to a 2% jump for the cloud security firm. The company is expected to take advantage of its authoritative status in the content delivery network business, potentially achieving over 30% upside.
— This pharmaceutical titan suffered a 1.5% setback after a downgrade to underweight from an equal weight status at Barclays. Despite only marginal changes in its fundamentals, the stock’s rapid growth – a whopping 25% over just 11 days – led Barclays to question its sustainability.
— Riding on the acclaim of being the top pick U.S. auto stock by Morgan Stanley’s Adam Jonas, this electric vehicle powerhouse witnessed a 1.5% boost in its shares. Tesla ousted Ford from this coveted position, whose shares remain largely unaffected in Monday’s premarket.
— The automaker’s shares slid 3.6% post a downgrade to hold from buy by Deutsche Bank. The bank cited possible challenges ahead in the tough environment, putting the company’s guidance at risk.
— Both the crypto exchange and the bitcoin developer’s share values surged by approximately 4%, tracking the upwards movement of the digital currency. Bitcoin itself reported a rise of over 2%.
— The entertainment giant’s shares edged up about 1% following the smashing success of its latest Marvel movie, “Deadpool & Wolverine”. The movie topped $200 million in its opening weekend, breaking the record for the highest-grossing debut for an R-rated film.
