Major US companies saw significant price movements before the market opened on Monday.
Ford Motor fell 2.1% after Jefferies downgraded its shares to “underperform” from “hold”, citing concerns over inventory levels and valuation. In contrast, Honeywell’s shares rose 3% as the company announced that its board is exploring the possibility of separating its aerospace division.
Other notable movers included Super Micro Computer, which lost nearly 14% following a report that it hired investment bank Evercore ISI to help raise equity and debt capital; Microchip, which declined 2.5% after Bank of America downgraded its shares to “underperform” from “neutral”; and Axon, which added nearly 3% as the company announced its inclusion in the Nasdaq-100 index later this month.
Keysight Technologies gained 2% following an upgrade at JPMorgan to “overweight” from “neutral”, citing a broader cyclical recovery and the recent Spirent acquisition. Meanwhile, Micron Technology’s shares rose nearly 4% ahead of its upcoming quarterly earnings report, with JPMorgan expecting strong results.
Broadcom climbed 3%, putting it on track to add to its gains from the previous session after reporting better-than-expected fourth-quarter results, which pushed its market cap above $1 trillion for the first time. Capri Holdings’ shares also rose 3.3% after Women’s Wear Daily reported that the company is exploring potential buyers for its Versace and Jimmy Choo brands.
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Source: https://www.cnbc.com/2024/12/16/stocks-making-the-biggest-moves-premarket-f-hon-mstr-more.html