Before the bell rings, check out the companies making the headlines: Birkenstock — The shoe company rose 3.5% after UBS upgraded the stock to buy from neutral. The investment bank cited rising average selling prices and strong growth in Asian markets. Chewy, GameStop — Chewy shares soared more than 16% after a regulatory filing revealed that meme stock trader “Roaring Kitty” bought 9 million shares of the pet food e-commerce retailer, giving him a 6.6% stake. His other favorite stock, GameStop, fell about 7%. Boeing, Spirit AeroSystems — Boeing said Monday it would buy back aircraft maker Spirit AeroSystems in an all-stock deal worth $4.7 billion. Boeing shares fell 0.3%, while Spirit AeroSystems shares rose 4.5%.Verizon — Shares rose 0.5% after Goldman Sachs initiated coverage with a buy rating. Verizon shares will rise as the competitive environment in the telecom industry improves, according to Goldman Sachs. Intercontinental Exchange — Shares rose 1.4% on the exchange after Goldman Sachs upgraded its rating to buy from neutral. Goldman said the company’s earnings per share could grow at a faster pace, in part due to its leadership in the energy market. Nvidia — The chipmaker fell more than 1% in premarket trading as the second half of 2024 began. Shares have risen 150% in the first half of the year as investors bet on artificial intelligence boosting profits. — CNBC’s Alex Harring, Sarah Min and Michelle Fox contributed to the report
CHWY, BIRK, GME, etc.
Services
© 2024 Business Investopedia. All Rights Reserved.