Twitter, Coca-Cola, Warner Bros. Discovery and more
See the most talked about companies here premarket trading.
Coca-Cola — Shares of Coca-Cola rose about 1% after the company beat analysts’ expectations on the top and bottom lines in the recent quarter. Analysts expected to see 58c per share for revenues of $9.83 billion. The beverage company reported adjusted earnings at 64 cents per sen on revenue of $10.5 Billion.
Twitter — Twitter ticked 5% higher on reports that the social media giant is close to a deal with Elon Musk. The news comes one day after Elon Musk’s Board meeting. reportedly met Sunday to discuss a takeover bidElon Musk has already been a part of this initiative. secured $46.5 billion in financing.
Oil stocks —Shares of energy companies fell on Monday as oil prices fell on fears of a global slowdown amid lockdowns in Shanghai. Chevron, ConocoPhillipsPlease see the following: Marathon OilThey fell 2.2% to 2.6% and 2.8%, respectively.
Kellogg — Shares of Kellogg dipped 1.8% after Deutsche Bank downgraded the stock to a hold. Deutsche Bank downgraded Kellogg’s stock to a hold due to strikes among workers and rising inflation.
Verizon — Verizon shares fell 1% after Goldman Sachs downgraded the stock to neutral. The bank said Verizon is situated well for 5G growth but offers a lower potential return compared to peers like AT&T.
Penn National Gaming — The gaming stock rose 2.8% after Morgan Stanley named it a buy despite its recent underperformance. The bank also sees opportunities in its Barstool Sports and theScore businesses.
Deere — The equipment manufacturer’s stock fell 3.4% after Bank of America downgraded the stock to neutral. The bank stated that they remain cautious regarding the future of agriculture and its equipment market, despite ongoing supply chain challenges and other macro trends.