Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Twitter, Apple, GE, Verizon, SmileDirectClub & more
Twitter (TWTR) — Elliott Management founder Paul Singer is looking to replace Twitter CEO Jack Dorsey, noting the company’s top
Apple (AAPL) — An analyst at Oppenheimer upgraded the tech giant to “outperform” from “perform,” noting Apple “has mastered the art to turn technology into deeply personal and indispensable everyday objects from phones to Watch to AirPods.” The analyst added that given the company’s “products and services will prove more resilient than competitive products in uncertain times.”
General Electric (GE) — JPMorgan analyst Stephen Tusa, who had a longtime bearish stance on GE, upgraded the industrial giant to “neutral” from “underweight,” noting the company’s floor on free cash flow exceeded his expectations. “We were wrong,” Tusa said in a note to clients.
Verizon (VZ) — Verizon was upgraded to “outperform” from “market perform” by an analyst at Cowen. “We look to take advantage of the recent sell-off with the stock now trading at a dividend spread (vs.
Western Digital (WDC), Micron (MU) — Western Digital and Micron were upgraded to “outperform” and “neutral,” respectively, by a Baird analyst. Memory chip “pricing positive outlooks remain unchanged for the year, despite current demand weakness in smartphones and PCs,” according to the analyst.
JPMorgan Chase (JPM) — A Piper Sandler analyst upgraded JPMorgan Chase to “overweight” from “neutral,” calling the stock a “relative winner in any macro-environment.” The analyst also said that after a “significant market
Gilead Sciences (GILD) — Gilead Sciences announced it will buy immune-oncology company Forty Seven (FTSV) for $4.9 billion in cash, or $95.50 per share. The deal represents a premium of 64.7% to the stock’s closing price on Friday.
Carnival (CCL), American Airlines (AAL), Delta (DAL) — Travel stocks Carnival, Delta, and American Airlines all fell as the number of
—CNBC’s Michael Bloom contributed to this report.