Stocks making the biggest moves premarket: Visa, Starbucks, Salesforce, Lowe’s and more
Here are the top companies garnering attention in premarket trading:
Thor Industries sees a 2% dip in its shares following its lower than anticipated earnings per share expectation, for its fiscal year, at between $4 and $5. This falls short of the StreetAccount $6.27 per share estimate.
Arlo Technologies records a 3% surge in its shares upon announcing a $50 million share buyback program, following a robust year that saw a 24.5% rise in shares in 2024.
Visa undergoes a 2% slide in shares due to an impending monopoly lawsuit from the Justice Department regarding its debit card enterprise, revealed in a Bloomberg report. Consequently, Citi is choosing to shift its preference to Mastercard.
Starbucks sees its shares dropping 1.6% as Jefferies downgrades its stock to underperform from hold and trims its price target, predicting near- and middle-term estimate reductions due to low visibility in the U.S. and China.
Salesforce enjoys a 2% increase in its software stock after receiving an upgrade to overweight from Piper Sandler who also raised its price target. The firm foresees Salesforce’s free cash flow per share doubling by fiscal year 2029 due to potentially beneficial risk-reward dynamics and the possible boost from artificial intelligence in product innovation.
Lowe’s shares see a 1.2% increase as Oppenheimer upgrades it to outperform from perform, predicting an uptick in demand as the Federal Reserve cuts rates and improvement in longer-term fundamentals.
BioNTech shares increase by 2.7% courtesy of a Morgan Stanley upgrade to overweight from equal weight, acknowledging the German biotechnology company’s successful implementation of a comprehensive clinical development program.
Pinterest witnesses over a 1% increase in shares as Oppenheimer begins coverage of the stock with an outperform rating, thanks to Pinterest’s robust advertising business and collaboration with larger e-commerce platforms.
GE Vernova shares make a near 1% gain after Guggenheim initiates coverage with a buy rating, forecasting “early stages of a multi-year improvement in profitability.” The firm’s analyst Joseph Osha’s $300 price target suggests a nearly 19% rise from Monday’s closing price of the stock.
