m
meme7h agomemePremarket movers: Mag 7 stocks are mostly higher: Meta Platforms (META) up +2.4% after announcing sale of up to $95 billion in common and preferred stock; Tesla (TSLA) gains 1.8% as Barclays upgrades to overweight from equal-weight, citing M&A opportunity with SpaceX; Alphabet (GOOGL) +0.5%, Amazon (AMZN) +0.2%, Microsoft (MSFT) +0.4%, Nvidia (NVDA) +0.4%, Apple (AAPL) -1.7%. US-listed shares of Brazilian companies, and those exposed to the country, slump after President Luiz Inácio Lula da Silva surprised the markets to come from behind to win a runoff election. Among movers: PagSeguro (PAGS) -32%, NU Holdings (NU) -25%, MercadoLibre (MELI) -14% ArriVent Biopharma (AVBP) is trading higher by 4.5% after early-stage data for the company’s ARR-217 product candidate was presented at ESMO, a key cancer conference. Booz Allen Hamilton Holding Corp. (BAH) rises 0.9% as it is being upgraded to buy from hold at TD Cowen, which writes that shares of the IT services company look attractively valued in the wake of long-term share-price weakness. Borr Drilling shares (BORR) drop 8.2% after the company said search and rescue operations are ongoing for five individuals who remain unaccounted for after its Prospector 5 drilling rig sank during jacking operations offshore Gabon on Oct. 24. Coinbase Global Inc. shares (COIN) are down 1.7% as Bernstein cut its price target on the exchange to $250 from $330 on lower expected crypto volumes. Equifax Inc. (EFX) falls 3.5% after it was cut to sector perform from outperform with RBC saying the the recent stock rally “off the lows has left risk/reward more balanced” given concerns on higher rates, regulatory overhand and consumer lending pressure. Fair Isaac Corp. (FICO) falls 9.2% after it was cut to equal-weight from overweight at Wells Fargo, citing its lower-than-expected 2027 pricing announcement. FirstEnergy Corp. shares (FE) rise 0.5% after BMO Capital Markets initiated coverage of the utilities company with a recommendation of outperform as it sees an attractive valuation. Lockheed Martin Corp. shares (LMT) are up 1.4% after Morgan Stanley upgraded the defense company to overweight from equal-weight, writing that a recent deal for F-35 fighter jets “takes significant risk out of the stock.” Moderna (MRNA) slumps 8.2%, set to extend their decline for a third session, after the drugmaker gave results from a trial of its experimental vaccine used in the treatment of pancreatic cancer. Nutanix Inc. shares (NTNX) are up 5.3% after Guggenheim Securities started coverage on the infrastructure software company with a buy rating and $100 price target, seeing an ability for it to take market share. Range Resources (RRC) rises 8.9% after EQT (EQT -8.1%) agreed to buy the energy firm in an all-stock transaction to create a combined natural gas company with a pro forma enterprise value over $50 billion. Spotify Technology SA shares (SPOT) are down 1.4% after Phillip Securities downgraded the audio-streaming company to accumulate from buy, a move that comes in the wake of its recent results. Xencor (XNCR) climbs 31% after the drug developer gave updated results from an early-stage trial of its experimental drug for kidney cancer that impressed Wall Street.
72/100·B+Long+27