By Check out the companies making headlines before the bell. Apple — Shares slipped nearly 2% after Jefferies downgraded the iPhone maker to an underperform rating from hold. Analyst Edison Lee called its AI outlook “subdued” and expects Apple to miss its fiscal first-quarter revenue growth forecast of 5% when reporting earnings later this month. Qorvo — The chipmaker moved 2% higher on the back of an upgrade at Morgan Stanley to overweight from equal weight. The bank believes Qorvo could see “a renewed earnings recovery path” now that activist investor Starboard Value has a stake in the company. 3M — The industrial stock jumped 4% after the industrial giant reported fourth-quarter earnings that beat expectations, boosted by higher sales of industrial adhesives, tapes and electronics. 3M reported adjusted profit of $1.68 per share, above analysts’ average estimate of $1.66 per LSEG. D.R. Horton — The homebuilder stock added 4.5% after reporting a fiscal fourth quarter beat. D.R. Horton reported earnings per share of $2.61 on revenue of $7.61 billion, higher than the earnings of $2.36 on $7.08 billion in revenue that analysts polled by LSEG were looking for. Vistra — The electricity generation stock rose 4.6% after firefighters confirmed on Monday that a fire that started burning Thursday was out. The fire led to road closures and mandatory evacuations last week. Moderna — Shares rose 3.9% after Moderna received $590 million in funding from the U.S. Health and Human Services Department to speed up the development of its bird flu vaccine. Bird influenza cases have risen in number across the U.S. in recent months. China electric vehicle stocks — Shares of China electric vehicle companies rose after Trump delayed tariffs by failing to immediately impose them during his inauguration. Shares of XPeng and Li Auto respectively added 6% and 5.4%. Walgreens Boots Alliance — The pharmacy retailer tumbled 5.8% after the U.S. Justice Department sued Walgreens Boots Alliance on Friday. The department accused Walgreens of exacerbating the U.S. opioid epidemic by filling unlawful prescriptions for opioids and other highly addictive painkillers. General Motors — The auto stock rose 1.2% after an upgrade to buy from hold at Deutsche Bank. The bank said the downside potential for GM under a second Trump administration is factored into the stock, leaving room for “positive surprises.” GM is also likely to announce more stock buybacks once its current authorization is completed, according to Deutsche Bank. Ulta — Shares rose 2.4% after Morgan Stanley upgraded the beauty retailer to overweight and hiked the price target to $500 — implying 23% upside. The Wall Street firm said Ulta will continue to grow and gain market share in a beauty industry that’s poised to expand. Trump Media & Technology Group — Truth Social’s parent company shed 6.7% a day after Donald Trump was officially inaugurated as the 47 th president of the U.S. Roku — Shares gained 2.3% after JMP initiated coverage with an outperform rating. The firm believes Roku’s position as a “top streaming platform in the U.S.” is sustainable, and that Roku stands to benefit from a surge in advertising spending in the connected TV market. — CNBC’s Michelle Fox, Hakyung Kim, Yun Li, Sarah Min and Jesse Pound contributed reporting.
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- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
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