Keep An Eye Out: Pre-Market Movers And Recommendations

AT&T (NYSE:T): Citi upgrades to buy from neutral. PT up 20% to $17.

Celanese (NYSE:CE): Piper Sandler downgrades to underweight from neutral. PT down 7.8% to $112.

Forward Air (NASDAQ:FWRD): Jefferies upgrades to buy from hold. PT up 20% to $85.

Hersha Hospitality (NYSE:HT): Barclays upgrades to equal-weight from underweight. PT up 2.1% to $10.

Snap (NYSE:SNAP): President Capital Management upgrades to buy from neutral. PT rises 48% to $14.

Verizon (NYSE:VZ): Citi upgrades to buy from neutral. PT up 19% to $40.

Oracle (NYSE:ORCL): UBS’s analyst Karl Keirstead increases his rating from Neutral to Buy. The target price is reviewed upwards from USD 120 to USD 140.

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Pre-Market Movers

The board of 3M (NYSE:MMM) approved a $6 billion settlement to resolve claims it sold faulty combat earplugs to the U.S. military, The WSJ reported. Shares were rising 0.7% in premarket trading.

AT&T (NYSE:T) was rising 1.6%, while Verizon Communications gained 1.5%. Shares of both companies were upgraded to Buy from Neutral at Citi.

Best Buy (NYSE:BBY) is expected to report fiscal second-quarter adjusted earnings of $1.06 a share on revenue of $9.52 billion. Shares were rising 2.6%.

Catalent (NYSE:CTLT) shares rose slightly following a Reuters report that said the company was close to reaching a settlement with activist investor Elliott Investment Management that would include adding new board directors and a pledge to review strategic alternatives such as the sale of the company.

Hawaiian Electric (NYSE:HE) stock rose 7%. A unit of Hawaiian Electric denied Monday that its power lines were responsible for the wildfire that destroyed the town of Lahaina.

Heico (NYSE:HEI) reported fiscal third-quarter earnings and sales that beat analysts’ estimates but operating margins declined to 20.7% from 22.6% a year earlier. The stock was down 5.3%.

NIO (NYSE:NIO) is expected by analysts to report a quarterly loss Tuesday of 33 cents a share on sales of $1.3 billion, according to Bloomberg. Shares rose 1.8%.

VinFast (NYSE:VFS) Auto stock fell back about 7%. VinFast, which has a small free float and went public via a blank-check merger, so far hasn’t sold many vehicles and has plenty of skeptics.

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Monday’s Post-Close Movers

OP Bancorp. said it launched a new buyback program that targets up to 750,000 shares. Shares rose 1.3%.

TSR’s (NASDAQ:TSRI) board said it initiated a process to identify and evaluate potential strategic alternatives to maximize shareholder value. Shares rose 6%.

Top Company News of the Day: 3M, Chevron, BYD, Zip Co.

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