PepsiCo, Walt Disney, Delta rise premarket; Carvana, Coinbase SoFi fall
Investing.com — U.S. futures traded higher Thursday, continuing the recent positive sentiment ahead of the latest data on producer prices, with investors looking for more clues guiding future Federal Reserve monetary policy.
Here are some of the biggest premarket U.S. stock movers today:
PepsiCo (NASDAQ:PEP) stock rose 2.3% after the beverages giant raised its full-year forecast, following a strong performance in the second quarter even as higher prices hit demand.
Delta Air Lines (NYSE:DAL) stock rose 4.4% after the carrier reported its best-ever quarterly revenue and earnings on the back of a sharp post-pandemic rebound in travel demand.
Walt Disney (NYSE:DIS) stock rose 1.4% after the entertainment giant extended Chief Executive Officer Robert Iger's contract by two years to maintain «continuity of leadership during the company’s ongoing transformation.»
Coinbase (NASDAQ:COIN) stock fell 1.2% after Barclays downgraded its stance on the cryptocurrency exchange to ‘underweight’ from ‘equal-weight’, saying investors should get out before its earnings report.
Carvana (NYSE:CVNA) stock fell 5.8% after JPMorgan cut its rating on the online used car retailer to ‘underweight’ from ‘neutral’, saying the stock can slump 70% after the sharp gains earlier this year.
SoFi Technologies (NASDAQ:SOFI) stock fell 3.7% after Morgan Stanley downgraded the online personal finance company to ‘underweight’ from ‘equal-weight’, saying the stock should be valued like a bank.
AstraZeneca (NASDAQ:AZN) ADRs rose 1.2% after UBS upgraded its stance on the pharma giant to ‘buy’ from ‘neutral’, saying its hefty drug pipeline makes it «a leading player in the field.»
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