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Stocks making the biggest moves premarket: Target, Restaurant Brands, Disney & more

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Wall Street set to open flat

Check out the companies making headlines before the bell:

Restaurant Brands International — Restaurant Brands reported weaker-than-expected quarterly earnings as sales in its Tim Hortons business unexpectedly fell. The company posted a profit of 55 cents per share. Analysts polled by Refinitiv expected earnings of 58 cents per share. Tim Hortons sales fell 0.6% in the quarter, while analysts expected a 2% increase.

Target — An analyst at Barclays upgraded the retailer's stock to "overweight" from "equal weight," noting the company is ahead of Amazon in same-day deliveries and "has built a supply chain that fulfills e-commerce primarily from stores (where next-day delivery is much easier), which stands in a stark contrast to most retailers."

Anadarko Petroleum — Anadarko announced it will retake sale negotiations with Occidental Petroleum after agreeing to sell its business to Chevron. Anadarko said Monday that Occidental's bid could be "superior" Chevron's.

American Airlines — The airline was upgraded to "buy" from "hold" by Deutsche Bank even though American recently lowered its full-year earnings guidance. "We think the resetting of expectations by management essentially establishes a 'floor' for AAL's share price and provides the company a bit more 'cushion' around its earnings targets," the analyst said in a note.

Gardner Denver — Shares of the Gardner Denver surged nearly 30% in the premarket after The Wall Street Journal reported the industrial company was in talks to merge with a division of Ingersoll-Rand. The deal, the report said, would value Gardner Denver at around $15 billion and would involve cash and stock.

Walt Disney — J.P. Morgan hiked its price target on Disney to $150 per share from $137 a share after Marvel's "Avengers: Endgame" movie shattered box office records, hauling in $1.2 billion in its global debut. "The underlying business continues to perform very well with several notable catalysts ahead that we believe may continue to drive outperformance," according to J.P. Morgan.

Spotify Technology — The music streaming company said it now has 100 million paid subscribers for its premium service, overshadowing a larger-than-forecast quarterly loss. Spotify shares rose nearly 4% before the bell.

CVS Health — CVS slipped in the premarket after Credit Suisse downgraded the stock to "neutral" from "outperform," citing "historically high" leverage and its pharmacy operations being negatively impacted by efforts to lower prescription drug costs.

Boeing — The Wall Street Journal reported the airplane maker did not tell Southwest Airlines, its largest 737 Max customer, that a safety feature in the plan was turned off. The report also said Southwest did not know about this until after the Lion Air crash last month.

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