Stocks making the biggest moves premarket: Boeing, Kenvue, Humana, Warby Parker and more
October 21, 2024 at 8:49 am - by Editor Prism MarketView
Have a sneak peek at the firms stealing the limelight before the market opening bell.
- The consumer health entity saw a rise of over 8% following the announcement by Wall Street Journal of Starboard Value, an activist investor, acquiring a stake in Johnson & Johnson’s offshoot.
- The aeroplane manufacturer witnessed its shares rising by 3.3% subsequent to reaching a new contract proposal with its machinists’ union, potentially ending a month-long strike. A voting on the proposal, involving a 35% pay hike, is set for Wednesday.
- The eyewear retailer’s shares shot up nearly 5% following an upgrade to buy from neutral by Goldman Sachs. Goldman believes that the firm has the potential to lead the pack with improving fundamentals and robust margin growth.
, Cigna
- The stocks of the two companies took differing paths after Bloomberg, quoting insiders, reported that Cigna recommenced merger discussions with Humana. As per Bloomberg sources, the negotiations are in the preliminary stage. Humana’s shares soared over 4% while Cigna’s dropped by a similar margin.
- The shipping giant’s shares tumbled almost 2% after a downgrade from equal weight to underweight at Barclays. The banking conglomerate anticipates threats to UPS’s earnings and rising competition from Amazon.
- The US-traded shares of the Chinese online retailer slipped more than 1%, reflecting a downturn in Hong Kong’s Hang Seng index. Despite an upgrade to buy from hold at Loop Capital Markets, JD.com shares failed to recover.
- The airline’s stocks receded more than 1% prior to market open. As CNBC reports, Elliott Investment Management has initiated early-stage negotiations with Southwest Airlines for board representation.
- The shares of the Dutch semiconductor equipment firm slumped over 1% due to Bernstein’s reduction in its price target on the stock. The bank foresees a “challenging” outlook for ASML by 2025.
