Take a look at the companies that make news before the bell.
JD.com (JD) – Shares of JD.com gained 1.4% in early morning trading after Chinese e-commerce giant named a new president. The company’s founder and CEO, Richard Liu, takes a step back from day-to-day operations, while Xu Lei, formerly CEO of JD Retail, will take on the role of president and perform those roles.
Boeing (BA) – Boeing shares fell 0.5% in premarket trading after Ryanair, a major Boeing customer, said it ended talks to buy 737 MAX 10 jets. The deal would have been worth tens of billions of dollars. Ryanair cited price disputes.
Moderna (MRNA) – Pharmaceutical and biotech stocks fell 0.5 percent in business operations early in the morning after Dr. Anthony Fauci, the White House’s chief medical adviser, said the implementation of Modern Covid-19 vaccine booster vaccines in the US. Fauci said Pfizer’s booster shots will likely be ready by Sept. 20; Pfizer shares rose 0.2% further in the market.
Spotify (SPOT): Shares of Spotify gained 3.9% in the premarket after KeyBanc upgraded shares of overweight music streaming from the same weight. KeyBanc said Spotify is growing its user base faster than peers.
Johnson & Johnson (JNJ), Merck (MRK), Amgen (AMGN) – Morgan Stanley downgraded several large-cap pharmaceutical stocks, saying the rise is limited for those names. The firm changed its ratings from Johnson & Johnson, Merck and Amgen to match the weight of the overweight. All three names went down in the market.
Terminix (TMX): Terminix shares added nearly 2% to the pre-market after Bank of America updated the value of the shares to buy insufficiently. Bank of America said the change in the pest control company “will take time to fully deliver,” but sees “a more positive risk reward today.”
Cirrus Logic (CRUS): Cirrus Logic shares gained more than 3% in early morning trading after Barclays upgraded the stock of overweight semiconductors from the same weight. Barclays sees more content benefits from Apple than Cirrus Logic will benefit in the coming years.
Match Group (MTCH): Match Group shares rose 11.5% in the premarket following news that the company would join the S&P 500 later in September. The online dating company will replace Perrigo Company.
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