Welcome to Extreme Investor Network, where we provide you with the latest news and insights in the world of finance. Today, we’ll be diving into the companies that are making headlines in premarket trading.
ResMed took a hit, tumbling 11.8% after news that Eli Lilly’s tirzepatide weight loss drug could potentially reduce the severity of obstructive sleep apnea. On the other hand, Eli Lilly saw a slight increase of around 1%.
RXO, the freight stock, surged 12.7% after acquiring the Coyote Logistics unit from UPS for over $1 billion. This acquisition propelled RXO’s stock while UPS shares remained unchanged in premarket trading.
Nvidia, the artificial intelligence powerhouse, slipped 1.8% following a recent drawdown. However, Jefferies raised its price target for Nvidia, suggesting a 19% upside from last week’s closing level.
Carrier Global, a heating and ventilation stock, rose 2.3% after receiving an upgrade to buy from neutral from Citi. Citi believes that Carrier Global has the potential to become a leading pure play HVAC provider.
Ferrari saw a 1.6% increase in its stock price as Wall Street reacted to the company’s electric vehicle plans. Additionally, UBS raised its price target for Ferrari after the unveiling of the company’s new factory.
Planet Fitness, the budget-friendly gym chain, experienced a 3.1% climb after being named a top pick by TD Cowen. TD Cowen upgraded the stock to buy from hold, citing promising catalysts and upside to valuation.
Affirm, the buy-now-pay-later stock, jumped 3.2% following a buy rating initiation from Goldman Sachs. Goldman highlighted Affirm’s leadership in the modern credit space and its strong underwriting business.
Anheuser-Busch InBev, the brewing company, saw its shares rise nearly 3% after an upgrade from UBS to buy from neutral. The bank pointed to an inflection point in growth, margins, and cash returns for the company.
IBM, the legacy tech giant, moved 1.4% higher after Goldman Sachs initiated coverage with a buy rating. Goldman believes IBM is on track for sustained revenue and free-cash-flow growth.
Cinemark, the American movie theater chain, popped 3.3% after Roth MKM upgraded the stock to buy from neutral, citing a “meaningful box office improvement.”
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