Stocks making the biggest moves premarket: Tesla, Take-Two Interactive, BJ’s Wholesale, Boeing and more
Check out the companies making headlines in premarket trading. Tesla — Shares of the electric vehicle firm gained 3%, extending an after-hours pop from Friday after CEO Elon Musk said the company will unveil its long awaited robotaxi design on Aug. 8. Ulta — The cosmetic stock ticked up 1.3% on the heels of an upgrade to buy from Loop Capital , with analyst Anthony Chukumba positing that shares could be due for a rebound after their worst fall since 2020 last week. BJ’s Wholesale — Shares of the warehouse club added 2.4% following an upgrade by Goldman Sachs to buy from neutral. The bank sees earnings upside ahead for BJ’s, driven by a number of factors including the return of volume growth in grocery. Boeing — Shares were roughly 1% lower in premarket trading. On Sunday, the Federal Aviation Administration said a 737-800 operated by Southwest Airlines had to return to Denver Airport after an engine cowling fell off the aircraft mid-flight and hit a wing flap. Taiwan Semiconductor Manufacturing — Shares of the chipmaker climbed 2% after the company’s Arizona subsidiary received an offer from the Biden administration for $6.6 billion in funding as part of the CHIPS and Science Act. Take-Two Interactive — Stock in the video game holding company advanced more than 2% following an upgrade to buy from Citi. UiPath Inc . — Shares of the software company ticked up about 1% after KeyBanc upgraded the stock to overweight, with the firm saying “the go-to-market and leadership changes over the last two years are beginning to bear fruit” moving forward. Fastly — Stock in the cloud computing company gained nearly 4% following an upgrade to overweight from Piper Sandler. Analyst James E. Fish noted that strong valuation and steady fundamentals present an attractive risk-to-reward skew. — CNBC’s Michelle Fox contributed reporting
Read the full article here