Shares of Masimo (NASDAQ:MASI) are moving sharply higher in pre-market trading after the medical technology company announced its board has authorized management to evaluate a proposed separation of its consumer business.

Sportswear and footwear retailer Foot Locker (NYSE:FL) is also likely to see initial strength after Evercore ISI upgraded its rating on the company’s stock to Outperform from In-Line.

On the other hand, shares of Scotts Miracle-Gro (NYSE:SMG) may move to the downside after Raymond James downgraded its rating on the lawn care company’s stock to Market Perform from Strong Buy.