Top Movers
As of 8:40 a.m. in New York, U.S. equity futures are poised for a slight decline, with investors focusing on upcoming inflation data and a Federal Reserve meeting later in the week. The major indices are showing minimal movement, reflecting a cautious market sentiment.
Adobe Inc. (ADBE) shares are down 1.4% after Melius Research downgraded the software company to hold from buy. This downgrade reflects concerns over the company's valuation and growth prospects in the current market environment.
Delek US Holdings Inc. (DK) shares are down 1.5% following a downgrade by TD Cowen to sell from hold. The downgrade is likely due to concerns over the company's future profitability and market conditions in the refining and marketing sector.
The pre-market session is characterized by strategic acquisitions, significant upgrades, and notable investments. Diamond Offshore Drilling's acquisition by Noble Corp. highlights ongoing consolidation in the energy sector. Meanwhile, the upgrades for Krispy Kreme and Southwest Airlines reflect renewed investor confidence in these companies' growth potential. GameStop's rebound underscores the continued volatility and speculative interest in meme stocks.
LargeCap Movers (>$20B)
Stock | Ticker | Price Change | Key Takeaway |
---|---|---|---|
Adobe Inc. | ADBE | -1.4% | Downgraded to hold from buy by Melius Research |
PG&E Corp. | PCG | +1.5% | Upgraded to overweight from neutral by JPMorgan |
Walmart | WMT | +1.4% | Upgraded to overweight from neutral by JPMorgan |
Mid-Cap Movers ($5B-$20B)
Stock | Ticker | Price Change | Key Takeaway |
---|---|---|---|
Delek US Holdings | DK | -1.5% | Downgraded to sell from hold by TD Cowen |
Crowdstrike | CRWD | +6.3% | Added to S&P 500 Index |
GoDaddy | GDDY | +2.9% | Added to S&P 500 Index |
KKR | KKR | +7.4% | Added to S&P 500 Index |
SmallCap Movers ($50M-$5B)
Stock | Ticker | Price Change | Key Takeaway |
---|---|---|---|
Diamond Offshore Drilling | DO | +8.3% | Acquired by Noble Corp. |
GameStop | GME | +13.0% | Rebounding from Friday’s losses |
Krispy Kreme | DNUT | +5.3% | Upgraded to buy from hold by Truist Securities |
Southwest Airlines | LUV | +7.8% | Elliott Investment Management builds $2 billion stake |
Dave Inc. | DAVE | +3.1% | Started with a buy rating at Seaport Global Securities |
Overbought Stocks
Stock | Ticker | RSI |
---|---|---|
Faraday Future Intelligent Electric | FFIE | 97.9 |
Defiance Silver | DNCVF | 89.2 |
Novavax | NVAX | 88.9 |
Bristow Group | VTOL | 88.6 |
Ardmore Shipping | ASC | 88.4 |
Oversold Stocks
Stock | Ticker | RSI |
---|---|---|
Seritage Growth Properties | SRG | 9.2 |
Dlocal | DLO | 15.0 |
Evolent | EVH | 17.3 |
Cerence | CRNC | 17.9 |
Papa John’s | PZZA | 17.9 |
The pre-market session sets the stage for a cautious trading day, with investors closely monitoring upcoming economic data and Federal Reserve decisions. The notable moves in individual stocks reflect strategic corporate actions and investor sentiment shifts, providing a dynamic backdrop for today's market activity.