Take a look at some of the biggest providers in the premarket:
Foot Locker (FL) – The sports shoes and apparel retailer lost 3.9% in the premarket after J.P. Morgan Securities had downgraded it from neutral to underweight, indicating cost pressures and tougher competition.
Under Armor (UAA) – Under Armor rose 2.5% in pre-trading hours after Baird was upgraded from neutral to outperform. Baird said the sportswear company's stock would benefit from a cyclical rebound in earnings.
Warner Music (WMG) – Warner Music lost 4% in premarket deals after it was revealed that 8.6 million shares were sold by affiliates of stakeholder Access Industries. Warner Music will not receive any proceeds from the sale.
Apple (AAPL) – Apple remains on guard after becoming the first U.S. company to surpass $ 3 trillion in market value, hitting that milestone on Monday before pulling out. Apple hit the $ 3 trillion price of $ 182.86 per share during pre-trading.
Ford Motor (F) – Ford is taking orders for its F-150 Lightning electric pickup truck this week. It had previously closed its reservation system for the truck due to an overwhelming response. Ford gained 1.4% in the premarket.
Coca-Cola (KO) – The beverage giant's stock rose 1% pre-IPO after Guggenheim upgraded it from neutral to buy, citing a number of factors including strong emerging markets performance and one faster than expected recovery in sale spot.
Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise was upgraded from Equilibrium to Overweight at Barclays, suggesting a number of factors including an attractive valuation for the enterprise technology company. Hewlett Packard Enterprise increased its premarket by 2.3%.
Toyota Motor (TM) – Toyota plans to launch its own operating system for vehicles by 2025, according to a report by Japanese intelligence agency Nikkei. The system would be able to handle advanced operations like autonomous driving. Toyota gained 2.5% pre-IPO, with stocks benefiting as the dollar rose to nearly 5-year highs against the Japanese yen.
General Electric (GE) – GE was up 1.4% in pre-trading after it was upgraded from neutral to outperform by Credit Suisse, with a target price of $ 122. Credit Suisse said a recent sell-off in GE shares gives investors an opportunity to take advantage of a cyclical rebound in the aerospace industry.
BlackBerry (BB) – A judge ruled against BlackBerry's offer to dismiss an investor complaint that was more than eight years old. The lawsuit alleges that BlackBerry – which no longer makes smartphones and now focuses on cybersecurity software – has increased the success and profitability of its BlackBerry 10 smartphone. The class action lawsuit could go to trial later this year.
Blackbaud (BLKB) – The cloud software provider announced a deal to acquire social impact technology company EVERFI for $ 750 million in cash and shares. Blackbaud assumes that the takeover will have an immediate positive impact on earnings.