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Stocks making the biggest moves premarket: PEP, MAT, VZ, MYL & more

  • Here are some of the companies making the biggest moves on Wall Street on Tuesday morning.
  • An executive for PepsiCo said the company has reserved 100 of Tesla's new Semi trucks, marking the largest pre-order of the vehicles to date.
  • Toy maker Mattel said it expects fourth-quarter gross sales to be hit by key partners tightening up inventory management and by underperforming brands.
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Spencer Platt | Getty Images News | Getty Images

Check out which companies are making headlines before the bell:

PespiCo — An executive for the soda maker said PepsiCo has reserved 100 of Tesla's new Semi trucks, marking the largest pre-order of the vehicles to date.

Verizon Communications — The telecommunication giant's stock was upgraded to "buy" from "neutral" at Instinet. Instinet also raised its price target on the stock to $61 per share from $47 a share, representing a 17.7 percent upside. "Better visibility into subscriber growth, rising [average revenue per user], and cost control fuels our confidence EPS growth will resume in 2018," it said.

Abbott Laboratories — BMO Capital Markets upgraded Abbott to "outperform" from "market perform," noting the health-care company "faces easier 1H18 comps, a shifting FX environment, and its revenue and EPS growth rates are at the high end of its peers." BMO also raised its price target on the stock to $65 per share from $58 a share, representing an 18.3 percent upside.

Mattel — The toy maker said it expects fourth-quarter gross sales to be hit by key partners tightening up inventory management and by underperforming brands. Mattel also said it expects a mid-to-high single-digit percentage drop for fiscal 2017 gross sales.

Mylan — Mylan shares were initiated with a "buy" rating at Guggenheim Securities and a price target of $59 a share. In a note to clients, Guggenheim says it gives Mylan's generics and specialty segments a "premium multiple" given the company's "risk/benefit profile, its diversification outside the U.S., and its pipeline containing biosimilars and hard-to-manufacture, complex products."

Stitch Fix — The e-commerce company was initiated with an "outperform" rating and a $29-a-share price target at RBC Capital Markets. Analyst Mark Mahaney said in a note that Stitch Fix is "revolutionizing fashion through direct shipments of apparel that has been selected through the combination of data science and personal stylists."

Activision Blizzard — Goldman Sachs upgraded the video game maker's stock to "buy" from "neutral," noting Activision's "discounted valuation relative to peers … ahead of accelerating earnings growth over the next 2-3 years." Activision shares rose 2.5 percent in the premarket.

WestRock — Packaging manufacturer WestRock has agreed to acquire nearly all of Plymouth Packaging's assets for an undisclosed amount.

AlphabetRecode reported that Alphabet's Google is once again sending more traffic to publishers than Facebook. For a time, Facebook had surpassed Google in web referral traffic. But Facebook sent 25 percent less traffic to publishers this year, while Google's traffic rose by 17 percent, the report says.