Check out the companies that are making the headlines before the bell:
Altimeter Growth (AGC) – Southeast Asia's hail giant Grab goes public through a nearly $ 40 billion SPAC merger with Altimeter Growth. Grab says it intends to trade on the Nasdaq under the ticker symbol "GRAB" when the deal is closed. Altimeter's shares rose nearly 9% in premarket trading.
Johnson & Johnson (JNJ) – The drugmaker's shares fell 2.8% in the pre-market after the Food and Drug Administration urged states to stop giving J & J's Covid-19 vaccine after six people developed a rare blood clot disorder in the United States. The FDA said the recommendation was "out of caution". Moderna stocks fell more than 7% in early trading on the news.
FedEx (FDX) – The shipping company's shares rose in premarket trading via KeyBanc Capital Markets and raised FedEx to "overweight". The Wall Street company has also set a price target of $ 350 per share for FedEx. According to KeyBanc, FedEx can continue to increase volume even after returning to personal shopping.
JetBlue (JBLU), Spirit Airlines (SAVE) – The airline's shares rose in premarket trading after Susquehanna Financial Group raised JetBlue and Spirit Airlines to positive. "With a recovery in US domestic air traffic, we want to own the low-cost airlines," the company's analyst told customers.
Booking Holdings (BKNG) – The travel company won premarket trading after Jefferies Booking switched to "buy" from "hold" due to a recovery in global travel. The first also raised its 12-month price target from $ 2,300 per share to $ 2,800 per share.
3M (MMM) – The manufacturing giant's shares fell in the premarket after Deutsche Bank added a "Catalyst Call" sale for 3M. The Wall Street company said the stock had outperformed oddly in the past few weeks, despite Deutsche Bank expecting its upcoming earnings to be missed.
NortonLifeLock (NLOK) – The security firm fell into premarket trading after Bank of America initiated the stock with an "underperform" rating and a price target of $ 19 per share. "Last year's COVID-related surge in demand could unwind over the next few quarters and the company could return to negative trends in churn and subscriber additions, negatively impacting revenue growth," the company said.
Honeywell (HON) – Honeywell's shares rose in premarket trading after Deutsche Bank gave the stock a catalyst buy rating. The company said investors were not thrilled with Honeywell, although a recovery is on the horizon.
Bristol-Myers Squibb (BMY) – The pharmaceutical company's stocks rose up front as Truist Bristol-Myers Squibb improved to "buy" from "hold" with a target price of $ 74 per share. The Wall Street firm said it likes the Bristol-Myers Squibb drug pipeline.
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