Check out the companies making headlines before the bell. Cryptocurrency Stocks – Cryptocurrency-related stocks rose as Bitcoin rose above $64,000 to start the week. Extending gains from the previous session, MicroStrategy and Mara Holdings — formerly Marathon Digital — both rose more than 5%, while Coinbase advanced more than 3%. Flutter Entertainment – Shares of parent company FanDuel rose 4% after Wells Fargo upgraded shares to overweight, saying investors should consider buying shares after the recent selloff. Boeing — Shares fell 2.3% after the plane maker announced Friday afternoon that it plans to cut about 10% of its workforce, or about 17,000 people. Boeing also delayed deliveries of its not-yet-certified 777X widebody jet, and forecast a larger-than-expected loss in the third quarter. The company is facing increasing losses amid the ongoing mechanics strike. Sirius Berkshire bought nearly 3.6 million shares of Sirius stock last week, bringing its total holdings to more than 108 million shares, according to a securities filing. Caterpillar – The industrial company fell more than 2% after Morgan Stanley downgraded its stock to below equal weight. The investment bank pointed to the possibility of reducing the stock in the future and a negative risk-reward backdrop for the stock. Ibotta – Shares rose nearly 4% after Goldman Sachs upgraded Ibotta to buy from neutral, saying the mobile company that offers cash rewards to users has an “attractive risk/reward” at its current valuation. The Wall Street firm cited the company's growth opportunities through its partnerships with Walmart and Instacart. AppLovin – The mobile technology stock lost 3.7% following Goldman Sachs' downgrade to neutral from buy. After a recent period of sharp outperformance, the bank said AppLovin's risk-reward ratio has become more balanced. Hims & Hers Health — Shares rose more than 6% after the Food and Drug Administration said it would allow compounding pharmacies — those that sell custom-made medications — to sell their own versions of Eli Lilly's weight-loss drug Mongaro. — CNBC's Alex Haring, Samantha Sobin, Jessie Pound, Sarah Min, Hakyung Kim and Pia Singh contributed reporting.
Trending
- Nvidia shares hit a record high as the chip maker's market cap exceeds $3.4 trillion
- Buy Apple given its ability to overcome the low, says Evercore analyst. We don't see any rush
- Health care costs have reached their highest levels since the pandemic. Open scoring moves can help
- Boeing factory strike passes one month as pressure mounts on CEO
- ServiceNow, CoreWeave invest billions in UK data centers for AI
- Stocks making the biggest moves in pre-market: FLUT, BA, SIRI, CAT
- UBS's Thomas Fang and The Smart Investor's David Kuo discuss China's stimulus promises
- Chinese trade data; China Consumer Price Index, Producer Price Index
Stocks making the biggest moves in pre-market: FLUT, BA, SIRI, CAT
