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Keep An Eye Out: Pre-Market Movers And Recommendations

Bruno T
Latest News
September 20 2023 06:12AM

On Wednesday, U.S. futures showed slight gains as investors anxiously awaited the Federal Reserve’s imminent interest rate decision and economic update. Here are some notable movers in the premarket U.S. stock scene today:

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Instacart (NASDAQ:CART) shares slipped 3.2%, retracing a portion of the 12% surge seen on its inaugural trading day following a successful listing for the online grocery delivery service.

Apple (NASDAQ:AAPL) shares declined by 0.2% as unions representing employees at the tech giant’s French stores called for a strike ahead of the iPhone 15 launch on Friday and Saturday, demanding improved compensation and working conditions.

Goldman Sachs (NYSE:GS) shares gained 0.3% as the investment bank’s asset management division successfully raised over $15 billion for funds enabling investors to participate in existing private equity deals as secondary investments.

Coty (NYSE:COTY) shares climbed 6.2% after the beauty company raised its annual core sales forecast, citing increased pricing and robust demand for its high-end fragrances.

General Mills (NYSE:GIS) shares rose by 0.9% as the food processing company surpassed analysts’ expectations for quarterly sales. Price hikes on breakfast cereals, snack bars, and pet food products helped mitigate the impact of slowing demand.

Dollar General (NYSE:DG) shares dipped 1.6% following a downgrade by JPMorgan from ‘neutral’ to ‘underweight,’ citing significant financial stress among its core low-end consumer base.

Chewy (NYSE:CHWY) shares declined 1.9% after Oppenheimer downgraded the pet food retailer from ‘outperform’ to ‘perform,’ anticipating a persistently challenging business environment for at least a few more quarters.

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Applied Material (NASDAQ:AMAT): Goldman Sachs maintains its buy recommendation with a target price of $152.

Autozone (NYSE:AZO): BNP Paribas Exane maintains its outperform rating with a target price of $3,215.

Dollar General (NYSE:DG): JP Morgan downgrades to underweight from neutral with a target price reduced from $132 to $116.

Western Digital (NASDAQ:WDC): BNP Paribas Exane upgrades to outperform from neutral with a target price raised from $36 to $58.