Check out the companies making headlines before the bell:
American Eagle Outfitters saw a 4% increase in shares following an upgrade by JPMorgan to overweight from neutral. The firm mentioned the retailer’s merchandising initiatives and operational changes as reasons for the upgrade.
Freeport-McMoRan experienced a 1.9% jump in shares after Bank of America upgraded the American mining company to buy from neutral, highlighting its “blue chip copper exposure.”
Molson Coors saw a 1.9% increase in shares after Goldman Sachs upgraded the brewing company to buy, citing potential benefits as it expands its shelf space in retailers.
Ally Financial gained nearly 2% after being upgraded to buy from neutral at Bank of America. Analysts believe the company may see higher earnings, less earnings volatility, and underestimated potential credit leverage.
Alphabet’s shares slightly increased ahead of the Google Cloud Next event on Tuesday. The tech giant has been performing well recently, with a surge of over 14% in the past month.
Pfizer’s shares rose slightly after the pharmaceutical giant reported potential in its respiratory syncytial virus vaccine to protect adults under 60 years old from severe illness.
– CNBC’s Michelle Fox contributed reporting
Several companies are making headlines before the bell today. American Eagle Outfitters saw a 4% jump in shares after an upgrade by JPMorgan to overweight from neutral, citing positive developments in merchandising and operations. Freeport-McMoRan also saw a 1.9% increase after an upgrade by Bank of America to buy from neutral, praising the company’s copper exposure. Molson Coors gained 1.9% after an upgrade by Goldman Sachs to buy, highlighting the potential benefits of expanding shelf space. Ally Financial saw a nearly 2% increase after an upgrade to buy from neutral at Bank of America, with analysts predicting higher earnings, less volatility, and potential credit leverage. Alphabet’s shares gained slightly ahead of the Google Cloud Next event, following a recent surge of more than 14%. Pfizer also saw a slight increase after announcing positive results for its respiratory syncytial virus vaccine.
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