Investors should take a look at the companies making the most significant moves in premarket trading. Walmart's stock rose up to 1% after the retail giant beat expectations with its earnings and revenue numbers for the quarter. Moreover, it adjusted its full-year forecast positively. Meanwhile, Cisco Systems stock grew 2.2% following the publication of its better-than-expected Q4 earnings. Adobe, on the other hand, saw its stock go up by 2% due to Bank of America upgrading the software company's stock to buy from neutral. Bank of America also increased Adobe's price target to $630 from $575, indicating a potential increase of over 22%. Hawaiian Electric experiences a fall of nearly 18%, as the utility company is facing a liability issue in connection with Maui's wildfires. CVS's stock dropped 7% as Blue Shield of California made the decision to switch to Cost Plus Drug Company and Amazon Pharmacy, while Wolfspeed's stock dropped 17% after the company posted an adjusted earnings-per-share loss of 42 cents, missing Refinitiv's expectations. Ball Corp. stock increased 3%, with BAE Systems acquiring its aerospace business for $5.55 billion. VinFast Auto saw its stock decline by 5% as it is still searching for its level after the initial public offering. Contributions to this report were made by CNBC reporters Alex Harring, Jesse Pound and Michael Bloom.
Comments