Ernie Garcia, CEO of Carvana
Scott Mlyn | CNBC
Check out the headline companies ahead of Monday’s bell.
caravan — Shares of the online auto retailer rose more than 7% in the premarket after Piper Sandler Carvana moved up from neutral to overweight. The firm said Carvana could double from current levels and noted that the stock was too cheap to ignore.
Roblox — Shares of Roblox fell 1.8% in premarket trading after Cowen began to cover the online gaming platform with a low performance ratingreferring to the uncertainty ahead of Roblox in the metaverse.
Newmont — Shares gained 2.7% after Goldman Sachs Initiated coverage of Newmont with a buy ratingshares are undervalued and the company has new development projects that could spur growth.
bill.com — The payments software stock rose more than 2% in premarket trading after Morgan Stanley started coverage of the stock with an overweight rating. Analyst Keith Weiss said in a note that the stock is at an “attractive entry point” after underperforming the market this year, and that Bill.com is the category leader with a solid moat.
Adobe — Adobe shares fell 1.5% after being downgraded by Mizuho to neutral amid a gloomy macro environment.
Alphatec — The medical technology stock rose 3.1% in premarket trading after Morgan Stanley began covering the stock with an overweight rating, saying the company is outpacing peers to gain share in the spine surgery market.
Bristol-Myers Squibb — Shares rose 6.7% after the US Food and Drug Administration Approved Sotyktu, oral treatment for plaque psoriasis.
Walt Disney — Shares of the entertainment and media giant rose slightly Weekend 2022 D23 Expowhere CEO Bob Chapek touted his rebounding theme park business and hinted at something. interview ESPN has big plans. Activist investor Dan Loeb also rHe changed his stance on avoiding ESPNTweeting Sunday, he now understands the value of keeping the sports network under Disney.
Twitter — Twitter fell nearly 1% in premarket trading after the social media company called Elon Musk’s third attempt to cancel the purchase is invalid before the shareholder vote. The social media company said it plans to implement the deal with the price and terms agreed upon with Musk.
QLA, Lam Research — Shares of semiconductor companies a Reuters reports, citing people familiar with the matter, said the Biden administration plans to publish new restrictions on US semiconductor shipments to China next month. KLA and Lam Research each fell 1%.
Union Pacific – Shares in railroad companies rose after two unions warned of freight delays as they negotiate contracts for almost 60,000 workers, according to a Reuters report. Union Pacific fell 1.6% in premarket trade. CSX is down 0.4%.
Coinbase – Crypto stocks took a back seat Ethereum merger. Coinbase was up 2.6%, Marathon Digital Holdings was up 3.5%, and Riot Blockchain was up 2.8%.
– CNBC’s Christina Cheddar-Burke, Fred Imbert, Jesse Pound, Scott Schnipper, Samantha Subin and Michelle Fox Theobald contributed reporting.
