Major Stock Moves
Witness Monday's rising stock futures following the S&P 500's impressive month of gains. Stay tuned as Wall Street focuses on earnings from tech giants Apple and Amazon.com, along with the highly anticipated monthly U.S. jobs report this week.
Adobe - The stock gained 2.4% before the bell after Morgan Stanley upgraded shares to overweight from equal weight and boosted its price target, citing artificial intelligence tailwinds.
Chevron - Shares rose 1.6% after Goldman Sachs upgraded Chevron to buy from neutral and hiked its price target. Analysts said the oil giant is due for a breakout.
Ford Motor - Shares declined 1.1% after Jefferies downgraded the stock to hold, citing weakness in Model E guidance.
Walt Disney's stock rose 0.7% as two former executives returned, as per a Financial Times report.
XPeng's US-listed shares fell 2% premarket after a UBS downgrade, considering the stock's remarkable run-up.
Hasbro added 2.9% premarket on a Bank of America upgrade, expecting strong earnings due to demand for the Lord of the Rings Magic set.
United Parcel Service (UPS) Shares fell 1% after Credit Suisse downgraded UPS to neutral from outperform, citing labor concerns.
GoodRX saw shares rise over 8% premarket on a Cowen upgrade, highlighting pharmacy benefit management partnerships.
SBA Communications - Shares fell 1.6% in premarket trading. The real estate investment trust involved in wireless communications infrastructure is set to report its second-quarter results after the close Monday.
ON Semiconductor The chipmaker's shares gained 1.9% ahead of second-quarter earnings. ON Semiconductor is projected to report earnings of $1.21 per share on revenue of $2.02 billion, according to analysts polled by FactSet. It's set to report results Monday morning.
Upcoming Earnings Reports
In addition to SoFi, earnings reports are expected on:
Monday: Arista Networks (ANET), ON Semiconductor (ON), Western Digital (WDC), and ZoomInfo Technologies (ZI).
Tuesday: Advanced Micro Devices (AMD), Caterpillar (CAT), Pfizer (PFE), and Starbucks (SBUX).
Wednesday: CVS Health (CVS), PayPal (PYPL), and Qualcomm (QCOM).
Thursday: Apple (AAPL), Amazon.com (AMZN), and Alibaba (BABA).