Stock Groups

Foot Locker, Under Armour and more


Here are some top movers of the premarket.

Foot Locker (FL) – The athletic footwear and apparel retailer dropped 3.9% in the premarket after J.P. Morgan Securities downgraded it to “underweight” from “neutral,” pointing to cost pressures and tougher competition.

Under Armour (UAA) – Under Armour rose 2.5% in premarket trading after a Baird upgrade to “outperform” from “neutral.” Baird stated that the stock of athletic apparel manufacturer Under Armour would be benefited by a cyclical increase in earnings.

Warner Music (WMG) – Warner Music slid 4% in premarket action following news of an 8.6 million share sale by affiliates of stakeholder Access Industries. Warner Music will not be receiving any proceeds.

Apple (AAPL) – Apple remains on watch after becoming the first U.S. company to exceed $3 trillion in market valueThat milestone was achieved on Monday. Then, Apple pulled back. Apple reached the $3 trillion mark at $182.86 per Share during premarket trading.

Ford Motor (F) – Ford will start accepting purchase orders this week for its F-150 Lightning electric pickup truck. The overwhelming response to the F-150 Lightning electric pickup truck had forced Ford to shut down its reservation system. Ford increased 1.4% on the premarket.

Coca-Cola (KO) – The beverage giant’s stock rose 1% in the premarket after Guggenheim upgraded the stock to “buy” from “neutral,” citing a number of factors including strong emerging market performance and a faster-than-expected recovery in on-premises sales.

Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise was upgraded to “overweight” from “equal weight” at Barclays, which points to a number of factors including an attractive valuation for the enterprise technology company. Hewlett Packard Enterprise increased 2.3% in premarket.

Toyota Motor (TM) – Toyota plans to launch its own automotive operating system by 2025, according to a report by Japan’s Nikkei news service. Advanced operations, such as autonomous driving, will be possible with the system. Toyota’s shares rose by 2.5% during premarket action. The dollar was at a five-year high in comparison to the Japanese yen.

General Electric (GE) – GE gained 1.4% in premarket trading after it was upgraded to “outperform” from “neutral” at Credit Suisse, with a price target of $122. Credit Suisse claimed that a sell-off of GE shares in recent times gives investors an opportunity for cyclical growth in the aerospace sector.

BlackBerry (BB) – A judge ruled against BlackBerry’s bid to have a more than eight-year-old investor lawsuit thrown out. The suit claims BlackBerry – which no longer makes smartphones and now focuses on cybersecurity software – inflated the success and profitability of its BlackBerry 10 smartphone. This class-action lawsuit could be brought to trial in the next few months.

Blackbaud (BLKB) – The cloud software provider announced a deal to acquire social impact technology company EVERFI in a deal worth $750 million in cash and stock. Blackbaud believes the acquisition will be immediately beneficial to its earnings.