Stocks making the biggest moves premarket: Arm Holdings, GM, Ford, Adobe and more
Check out the companies making headlines before the bell.
KeyCorp — The Cleveland-based regional bank rose almost 2% premarket after Piper Sandler said the shares have begun to recover and it's growing «more comfortable» with its profit estimates. Piper upgraded KeyCorp to overweight from neutral.
Keysight Technologies — Shares added about 1.5% after Morgan Stanley upgraded the test and measurement equipment maker to overweight from equal weight. The investment bank said Keysight's current valuation doesn't reflect its double-digit earnings growth.
Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. The bank said Apellis offers a favorable risk-reward ahead of third-quarter earnings.
General Motors, Ford, Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. About 12,700 workers at three key assembly plants walked out, according to the union.
Unity Software — Shares in the video game developer stock added almost 3% premarket on the heels of an upgrade to buy from Bank of America. A stable advertising business, better monetized game engine, priced-in «risks and execution issues» and «potential upside» to 2024-25 earnings estimates underpinned the upgrade.
DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. The research firm said that the resumption of student loan payments could hurt food delivery demand.
Arm Holdings — Shares of the semiconductor and software stock gained 5.4% premarket after its rally on Thursday, when the company made its Nasdaq
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