Home| Features| About| Customer Support| Request Demo| Our Analysts| Login
Gallery inside!

Stocks Making the Biggest Premarket Moves: Arm Holdings, Gm, Ford, Adobe and More

September 15, 2023
minute read

KeyCorp: The Cleveland-based regional bank saw a nearly 2% pre-market increase following an upgrade by Piper Sandler, which expressed growing confidence in its profit estimates, prompting the upgrade from neutral to overweight.

Keysight Technologies: Shares of the test and measurement equipment maker rose approximately 1.5% after a Morgan Stanley upgrade from equal weight to overweight. The bank believes Keysight's current valuation doesn't adequately reflect its double-digit earnings growth.

Apellis Pharmaceuticals: The biopharmaceutical company experienced a 3.5% pre-market climb subsequent to a Wells Fargo upgrade from equal weight to overweight. The bank noted that Apellis presents a favorable risk-reward scenario ahead of its third-quarter earnings.

General Motors, Ford, Stellantis: GM and Ford shares declined slightly (less than 1%), while Stellantis saw a modest increase (less than 1%) after the United Auto Workers initiated a strike on Thursday night, involving approximately 12,700 workers at three significant assembly plants, according to the union.

Unity Software: Shares of the video game developer increased nearly 3% pre-market after receiving an upgrade to "buy" from Bank of America. The upgrade was based on factors such as a stable advertising business, improved monetization of its game engine, consideration of inherent risks and execution issues, and the potential upside in earnings estimates for 2024-25.

DoorDash: The food delivery company witnessed a nearly 3% pre-market decline following a downgrade from MoffettNathanson, which shifted its rating from "outperform" to "market perform." The research firm cited concerns that the resumption of student loan payments could negatively impact food delivery demand.

Arm Holdings: Shares of the semiconductor and software company gained 5.4% pre-market after a significant rally on Thursday, marked by the company's Nasdaq debut through an initial public offering, during which it surged nearly 25%. Needham initiated coverage with a "hold" rating, noting that Arm's valuation appears "full" in a post-smartphone era.

Adobe: Adobe shares declined by 3.4% following the release of the company's fiscal third-quarter earnings report on Thursday. Although earnings and revenue surpassed analyst estimates, and forward guidance aligned with Street projections, some concerns arose. While Goldman Sachs and Bank of America reaffirmed "buy" ratings, JPMorgan remained "neutral," citing macroeconomic challenges and a high premium for Adobe's pending $20 billion acquisition of Figma.

Nucor: The steelmaker's stock dropped 2.3% pre-market after issuing lower-than-expected earnings guidance for the third quarter, citing weaker pricing and volumes. Nucor anticipates earnings in the range of $4.10 to $4.20 per share, while analysts polled by LSEG expected $4.57 per share.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

Subscribe to our newsletter!

As a leading independent research provider, TradeAlgo keeps you connected from anywhere.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Related posts.