Take a look at some of the biggest movers in the premarket:
Boeing (BA) – Seaport Global Securities initiated coverage of the jet maker with a "buy" rating and a $277 price target, saying the worst of pandemic-related risk is now priced in and that Boeing's free cash flow could peak at a higher rate than is now generally expected.
related investing news
United Airlines (UAL), Delta Air Lines (DAL), American Airlines (AAL), Southwest Airlines (LUV), JetBlue (JBLU), Royal Caribbean (RCL), Carnival (CCL), Norwegian Cruise Line (NCLH), Booking Holdings (BKNG), Expedia (EXPE) – These and other travel stocks are extending last week's rally, as lockdowns ease and demand begins to pick up.
Thor Industries (THO) – The recreational vehicle maker reported fiscal third-quarter profit of 43 cents per share, compared to analysts' expectations of a quarterly loss. Revenue also beat Street forecasts. Thor said it was able to adjust its cost structure to deal with the negative impact of the Covid-19 pandemic, and that sales began to improve in May as dealerships reopened.
AstraZeneca (AZN) – AstraZeneca contacted Gilead Sciences (GILD) last month about a merger between the two drugmakers, according to a Bloomberg report. Other reports said AstraZeneca is no longer interested in pursuing such a deal, however.
PG&E (PCG) – The utility plans to raise $5.75 billion through public offerings of stock and equity units to help fund its emergency from Chapter 11 bankruptcy protection. That's in addition to about $3.25 billion in private stock sales.
Moderna (MRNA) – Barclays initiated coverage of the drugmaker with an "overweight" rating, based on its characterization of Moderna's Covid-19 vaccine candidate as potentially best in class and first to market.
Facebook (FB) – Facebook CEO Mark Zuckerberg said the company will review existing policies on content related to civil unrest and violence, following criticism over its stance of not moderating or taking down some posts related to those subjects.
Apple (AAPL) – Users of Apple's Apple Card will soon be offered the option of paying for iPads, Macs, and AirPods in monthly, interest-free installments, according to Bloomberg. Apple Card users already have that option for iPhone purchases.
Goldman Sachs (GS) – Malaysia's new finance minister told Reuters that $3 billion would not be enough to settle the case involving Goldman Sachs and sovereign wealth fund 1MDB. The country's former prime minister said in December that Goldman had offered more than $1 billion, to accusations that Goldman had misled investors over $6.5 billion in bond sales.
Amazon.com (AMZN) – RBC Capital raised its price target for Amazon.com to $3,300 per share, the highest on Wall Street. RBC, which rates Amazon "outperform," saying that online retail is a "structural winner" resulting from the Covid-19 pandemic and that Amazon is the best global play in that category.
Dunkin' Brands (DNKN) – Dunkin' was upgraded to "overweight" from "sector weight" at KeyBanc Capital Markets, which notes good execution by the restaurant chain during the pandemic positions it well to benefit as stats reopen.
Michaels Companies (MIK) – Michaels was upgraded to "overweight" from "neutral" at J.P. Morgan Securities, which points to attractive valuation for the arts and crafts retailer as well as improved margins, prospects for comparable sales to go positive, and the influence of a new management team.