Take a look at some of the biggest premarket movers:
1.Foot Locker (FL)
As a result of cost pressures and tougher competition, J.P. Morgan Securities downgraded the athletic footwear and apparel retailer to “underweight” from “neutral” in the premarket.
2. Warner Music (WMG)
Following news of an 8.6 million share transaction by affiliates of stakeholder Access Industries, Warner Music shares dropped 4% in premarket trading. The proceeds from the transaction will not go to Warner Music.
3. Apple (AAPL)
On Monday, Apple became the first U.S. company to surpass the $3 trillion market cap mark, reaching that milestone before pulling back further. During premarket trading, Apple hovered around the $3 trillion prices of $182.86 per share.
4. Ford Motor (F)
Ford will begin taking orders for its F-150 Lightning electric pickup truck this week. It had already shut down its truck reservation system due to an outpouring of interest. Ford gained 1.4 percent in premarket trading.
5. Coca-Cola (KO)
The stock of the beverage giant rose 1% in the premarket after Guggenheim upgraded it to “buy” from “neutral,” citing several factors, including strong emerging market performance and on-premises sales recovered faster than anticipated.
6. Toyota Motor (TM)
According to a report by Japan’s Nikkei news service, Toyota wants to create its car operating system by 2025. Advanced activities, such as driverless driving, might be possible with the system. Toyota surged 2.5 percent in premarket trading, with shares gaining from a nearly five-year high in the dollar against the Japanese yen.
7. Blackberry (BB)
BlackBerry’s attempt to have a more than eight-year-old investor lawsuit dismissed was denied by a judge. BlackBerry, which no longer develops smartphones and primarily concentrates on cybersecurity software, is accused of inflating the success and profitability of its BlackBerry 10 smartphone, according to the lawsuit. Later this year, the class-action lawsuit might go to trial.
8. Blackbaud (BLKB)
In a deal worth 750 million dollars in cash and stock, Blackbaud will acquire social impact technology company EVERFI. The deal is expected to accelerate the company’s earnings immediately.
9. General Electric (GE)
In premarket trading, GE rose 1.4 percent after Credit Suisse upgraded it to “outperform” from “neutral,” with a price objective of $122. According to Credit Suisse, a recent sell-off in GE shares provides an opportunity for investors to profit from a cyclical aerospace sector recovery.
10. Under Armour (UAA)
In premarket trade, Under Armour jumped 2.5 percent following a Baird upgrade to “outperform” from “neutral.” The cyclical recovery in earnings, according to Baird, would benefit the athletic gear maker’s shares.
11. Hewlett Packard Enterprise (HPE)
At Barclays, HPE was upgraded to “overweight” from “equal weight,” reflecting a variety of factors, including an attractive valuation for the enterprise technology company. HPE gained 2.3% in the premarket.