Investors are keeping an eye on the most active stocks in premarket trading. JetBlue Airways saw shares fall almost 2% after Evercore ISI downgraded them to underweight, citing the recent jump in stock prices and balance sheet issues. Zillow Group stock rose 4.7% after Piper Sandler upgraded them to overweight and raised their price target to $62 per share- representing 33% upside from the prior day's close. This was attributed to product options, new initiatives, and a sequential improvement in the housing macro environment. JPMorgan Chase experienced a 1.2% increase in the premarket after Jefferies upgraded them to buy from hold. U.S. Bancorp went up by 2.2% when Bank of America gave the Minnesota bank a buy rating. Amazon experienced a 0.8% increase with the start of its Prime Day sale and the inclusion of Amazon on Wells Fargo's Signature Picks list. WD-40 saw stock increase by 5% following their third-quarter financials showcasing a 15% year-over-year rise in revenue. 3M went up by almost 2% when Bank of America upgraded the company to neutral. However, Zions Bancorp and Truist were down with Jefferies lowering their ratings from buy to hold and adjusting earnings expectations. Iovance Biotherapeutics stock dropped 11% when they announced an underwritten public offering with 20 million shares of common stock at $7.50 per share, grossing $150 million.
Comments