JetBlue Airways Airbus A320-200 seen landing on final approach at John F. Kennedy International Airport in New York City.
Nicolas Economou | NurPhoto | Getty Images
Find out which companies are making the biggest leaps in pre-market commerce.
Jet Blue Airways – JetBlue Airways lost nearly 2% after Evercore ISI downgraded the airline to underweight, citing the stock’s recent surge and balance sheet problems.
Zillow Group — The stock jumped 4.7% after being improved by Piper Sandler to neutral overweight. Analyst Thomas Champion also raised his price target to $62 per share, suggesting a 33% upside from Monday’s close. Product optionality and new initiatives, as well as sequential improvements in the macro housing environment were among the reasons for his call.
JPMorgan Chase – The Wall Street heavyweight added 1.2% in premarket trading after a Jefferies upgrade to buy pending Tuesday. The company also called JPMorgan Chase “best in class.”
American bank – Shares of the Minnesota-based bank gained 2.2% following an upgrade to buy from neutral by Bank of America. Analyst Ebrahim Poonawala said US Bancorp is one of the highest quality franchises in US banking, with its size, earnings and strong execution expected to drive superior earnings growth and outperformance in stocks.
Amazon – Shares rose 0.8% as the e-commerce giant launched its highly anticipated Prime Day Summer Sale, which ends Wednesday. Wells Fargo also added Amazon to its Signature Picks list, citing better expectations for Amazon Web Services, Prime Day revenue growth and a still favorable risk-reward ratio.
WD-40 — Shares jumped more than 5% after lubricant and rust remover maker fiscal third quarter results announced Monday after sale. WD-40 recorded total net sales of $141.7 million, an increase of 15% over the prior year.
3M – Shares rose nearly 2% in premarket trading after a neutral upgrade from underperforming Bank of America. The bank said 3M has positive catalysts ahead related to litigation settlement, restructuring and expected fallout for the healthcare industry.
Zions Bancorp, Truist – Bank stocks were under pressure Tuesday morning after Jefferies downgraded Zions and Truist not to buy, lowering its earnings estimates for both companies. Shares of Zions fell 1.5% in premarket trading, while those of Truist were down 1%.
Iovance Biotherapeutics — Iovance Biotherapeutics fell more than 11%. The biotech company said on Monday that the price of its subscribed public offering, of 20 million common shares, would be at $7.50 per share. Gross proceeds from the offering are expected to be approximately $150 million.
— CNBC’s Jesse Pound, Alex Harring, Samantha Subin, Brian Evans, Sarah Min and Michael Bloom contributed reporting.
