[ad_1]
Shares of Thor Industries fell 2% in premarket trading after the RV maker issued lower-than-expected fiscal-year earnings guidance. The company expects earnings per share to be between $4 and $5, falling short of the StreetAccount estimate of $6.27 per share.
On the other hand, Arlo Technologies saw a 3% increase after authorizing a $50 million share repurchase program. The security systems company has had a strong year, with shares up approximately 24.5% in 2024.
Visa shares declined 2% following reports of a potential monopoly lawsuit by the Justice Department over its debit card business. This news led Citi to switch preference to Mastercard.
Starbucks stock slipped 1.6% after a downgrade by Jefferies to underperform from hold, citing uncertainty in the U.S. and China markets.
Conversely, Salesforce shares rose 2% after Piper Sandler upgraded the stock to overweight with a higher price target, citing potential growth in free cash flow and product innovation in artificial intelligence.
Oppenheimer upgraded Lowe’s from perform to outperform, forecasting improved demand as the Federal Reserve cuts rates. The firm also noted favorable longer-term fundamentals.
BioNTech, a German biotechnology company, saw a 2.7% increase in U.S.-listed shares following an upgrade from Morgan Stanley to overweight, citing successful clinical development programs.
Pinterest shares rose over 1% after Oppenheimer initiated coverage with an outperform rating, emphasizing the company’s strong advertising business and e-commerce platform integration for future growth.
GE Vernova’s shares climbed nearly 1% as Guggenheim initiated coverage with a buy rating, anticipating a multi-year improvement in profitability. Analyst Joseph Osha set a $300 price target, representing a 19% increase from the previous closing price.
[ad_2]
Stocks-making-the-biggest-moves-premarket-v-sbux-crm-low-and-more.html”>SOURCE
Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.