Don’t Trade Without Seeing The Orderbook

Here are some of the biggest premarket U.S. stock movers today:

Rite Aid (NYSE:RAD) stock rose 4.5%, rebounding after Friday’s 17% drop, after the drugstore chain filed for Chapter 11 bankruptcy and announced it has received a commitment for $3.45 billion in new financing from some of its lenders.

Apple (NASDAQ:AAPL) stock fell 0.8% after Bloomberg reported the tech giant’s new iPhone 15 is facing challenges in the Chinese market, with sales lagging behind its predecessor – the iPhone 14.

Nvidia (NASDAQ:NVDA) stock fell 1% following a Bloomberg News report that the U.S. will strengthen restrictions on China’s access to advanced chip technology.

Pfizer (NYSE:PFE) stock fell 2.6%, while German partner BioNTech (NASDAQ:BNTX) stock dropped 5.4% and rival Moderna (NASDAQ:MRNA) fell 4%, after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week.

Manchester United (NYSE:MANU) stock fell 11% after reports that British billionaire Jim Ratcliffe is looking to acquire only a 25% stake in the soccer club, raising concerns that a buyout by Qatar’s Sheikh Jassim bin Hamad al Thani could be off the table.

Novo Nordisk (NYSE:NVO) stock rose 0.1% after the drugmaker agreed to buy a hypertension drug from KBP Biosciences for up to $1.3 billion.

Lululemon (NASDAQ:LULU) stock rose 6.3% with the athleticwear company set to join the benchmark S&P 500 index on Wednesday, S&P Dow Jones Indices confirmed last week.

DR Horton (NYSE:DHI) stock rose 2% after Goldman Sachs upgraded its stance on the housebuilder to ‘buy’ from ‘neutral’, while KB Home (NYSE:KBH) stock fell 2.1% as Goldman cut to ‘neutral’ from ‘buy’.

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ANALYST RECOMMENDATIONS:

American Tower: RBC Capital maintains its outperform rating and reduces the target price from $230 to $193.

Autozone: Citi maintains its buy recommendation with a price target raised from $3020 to $3040.

Boeing: RBC Capital maintains its sector perform recommendation with a price target reduced from $225 to $210.

Caterpillar: JP Morgan maintains its overweight recommendation with a price target raised from $315 to $320.

Citigroup: Goldman Sachs maintains its neutral recommendation with a price target raised from $41 to $44.

Clorox: Wells Fargo maintains its underweight recommendation with a price target reduced from $135 to $120.

Colgate-Palmolive: Stifel upgrades to buy from hold with a price target reduced from $85 to $81.

Crown Castle: RBC Capital downgrades to sector perform from outperform with a price target reduced from $125 to $100.

Cummins: JP Morgan downgrades to underweight from neutral with a price target reduced from $270 to $255.

Dr Horton: Goldman Sachs upgrades to buy from neutral with a price target reduced from $132 to $131.

Electronic Arts: BNP Paribas Exane maintains its outperform rating with a price target reduced from $160 to $155.

Enphase energy: BMO Capital Markets downgrades to market perform from outperform with a price target reduced from $175 to $148.

Fair Isaac: Jefferies maintains its buy recommendation and raises the target price from $985 to $1035.

General Motors: RBC Capital maintains its outperform rating and reduces the target price from $48 to $47.

Illinois Tool: JP Morgan maintains its overweight rating and reduces the target price from $265 to $255.

L3Harris Technologies: Bernstein maintains its market perform recommendation with a price target reduced from $210 to $204.

Nucor: JP Morgan upgrades to neutral from underweight with a target price of $151.

Paccar: JP Morgan maintains its overweight rating and raises the target price from $97 to $105.

Pfizer: Jefferies upgrades to buy from hold with a target price raised from $38 to $39.

SBA Communications Corporation: RBC Capital maintains its outperform rating and reduces the target price from $265 to $220.

Trimble: JP Morgan maintains its neutral recommendation with a price target reduced from $62 to $57.