Pfizer’s stock climbed over 2% in premarket trading after the company released 2025 forecasts that met Wall Street expectations. The drugmaker expects revenue between $61 billion and $64 billion next year, within the consensus estimate of $63.2 billion.
On the other hand, Red Cat fell more than 14% after posting a loss of 18 cents per share for the fiscal second quarter, wider than the loss seen in the same period last year. The drone stock had surged recently due to mysterious sightings in the Northeast that raised hopes for increased funding for the drone industry.
In premarket trading, Nvidia shares slid almost 2%, a day after entering correction territory, while Broadcom was slightly lower. However, the chipmaker’s stock has rallied over 45% in the past week following an upbeat forecast and revenue growth from its artificial intelligence business.
SolarEdge Technologies jumped 14% on Goldman Sachs’ double upgrade to buy from sell, with the bank expecting a turnaround story for the company in 2025. Tesla rose nearly 2% after an upgrade to outperform from neutral at Mizuho, with the investment firm citing expected regulatory changes under the Trump administration as a reason.
Hims & Hers Health shares advanced 2.4% after Morgan Stanley initiated coverage on the digital health stock with an overweight rating. The company is well-positioned to benefit from increasing demand for personalized medication. Albertsons added 1.8% following an upgrade to outperform from market perform at Telsey Advisory Group.
Epam Systems and Cognizant Technology Solutions each rose more than 1% on Barclays’ upgrades to overweight from equal weight, with the bank citing investments made by the companies to help them win business in the IT services sector.
Source: https://www.cnbc.com/2024/12/17/stocks-making-the-biggest-moves-premarket-pfe-tsla-sedg-rcat-and-more.html