Welcome to Extreme Investor Network, where we provide you with the latest insights and updates on the stock market. Today, we are taking a look at some of the companies making headlines in premarket trading.
1. Tesla – Shares of the electric vehicle firm are up 3%, following an announcement by CEO Elon Musk that the company will unveil its long-awaited robotaxi design on Aug. 8. This news has investors excited about the future potential of Tesla’s autonomous driving technology.
2. Ulta – The cosmetic stock has seen a 1.3% increase after receiving an upgrade to buy from Loop Capital. Analysts believe that Ulta shares could be due for a rebound after experiencing their worst fall since 2020 last week. This upgrade has put Ulta back on investors’ radar.
3. BJ’s Wholesale – Shares of the warehouse club have risen by 2.4% after receiving an upgrade to buy from neutral by Goldman Sachs. The bank sees potential earnings upside for BJ’s, especially with the return of volume growth in the grocery sector.
4. Boeing – Shares of Boeing are down 1% in premarket trading after an incident involving a 737-800 operated by Southwest Airlines. The FAA reported that the aircraft had to return to Denver Airport mid-flight after an engine cowling fell off and hit a wing flap. Investors are keeping a close eye on how Boeing will address this issue.
5. Taiwan Semiconductor Manufacturing – Shares of the chipmaker are up 2% after receiving a $6.6 billion funding offer from the Biden administration. This funding, part of the CHIPS and Science Act, will support the company’s Arizona subsidiary and further drive innovation in the semiconductor industry.
6. Take-Two Interactive – Stock in the video game holding company has advanced over 2% following an upgrade to buy from Citi. This upgrade has reignited investor interest in Take-Two Interactive as the gaming industry continues to evolve.
7. UiPath Inc. – Shares of the software company have increased by 1% after an upgrade to overweight by KeyBanc. The firm believes that recent go-to-market and leadership changes at UiPath are starting to show positive results, making the stock more attractive to investors.
8. Fastly – Stock in the cloud computing company has gained nearly 4% after an upgrade to overweight from Piper Sandler. Analysts note that the company’s strong valuation and steady fundamentals present a compelling risk-to-reward opportunity for investors.
Stay tuned to Extreme Investor Network for more updates on these companies and other market movers. Make sure to subscribe to our newsletter for exclusive insights and analysis on the stock market. Happy investing!
