Friday, September 22, 2023
Homemarket insiderEarly movers: WMT, AAPL, DB, MCD, JPM & more

Early movers: WMT, AAPL, DB, MCD, JPM & more

Take a look at some of Monday's early movers:

Wal-Mart gained in pre-market trade after Raymond James upgraded the stock to "strong buy" from "outperform" on the expectation that the big-box retailer offers more reward than risk at the current share price. Raymond James retained its $86 a share price target, a 17.7 percent upside from Friday's closing price.

LendingClub edged higher in pre-market trade after an upgrade to "overweight" at Pacific Crest, citing stable pricing trends and higher confidence in consumer conversion. The $23 price target is nearly 23 percent higher than Friday's closing price.

Deutsche Bank leaped more than 5.5 percent in pre-market trade following the appointment of John Cryan as co-CEO, effective July 1. Cryan replaces long-time executive Anshu Jain. Co-CEO Juergen Fitschen will remain in his position until next May, after which Cryan will become sole CEO.

Apple gained in pre-market trade as the iPhone maker kicks off its highly anticipated Worldwide Developers Conference, at which analysts expect details on its music streaming service and new operating systems.

McDonald's advanced in pre-market trade after the fast food retailer reported a as a 2.3 percent gain in European sales off set a 2.2 fall in the United States. Last month, the fast food retailer said it would stop reporting same-store sales beginning July.

Sears rose nearly 2 percent in pre-market trade after the retailer reported a smaller-than-expected loss for the quarter. The company expects to raise $2.6 billion from the spinoff 235 stores into a real estate investment trust (REIT).

JPMorgan Chase edged lower in pre-market trade following a weekend report in the Sunday Times that said the bank has held preliminary talks for a $9 billion acquisition. Previous media reports said the payments processing firm was exploring a public offering in London.

Stifel Financial announced that it will acquire Barclay's Wealth and Investment Management, Americas. The unit employs about 180 financial advisors and manages roughly $56 billion in assets.


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