PepsiCo, Rivian and Honeywell rise premarket; Jupiter, Corning fall
Investing.com -- U.S. futures rose Tuesday, boosted by dovish comments from a couple of Fed officials, with a number of their colleagues set to comment later in the session.
Here are some of the biggest premarket U.S. stock movers today:
PepsiCo (NASDAQ: PEP) stock rose 0.8% after the soft drinks giant raised its annual profit forecast for a third time this year, as higher pricing helped offset a drop in volumes.
Unity Software (NYSE: U) stock rose 5.6% after the video-game software maker said its CEO John Riccitiello would retire in the wake of a controversial pricing change that frustrated numerous developers.
Rivian (NASDAQ: RIVN) stock rose 3% after UBS upgraded its stance on the EV manufacturer to ‘buy’ from ‘neutral’, seeing a potential buying opportunity following the recent selloff.
Corning (NYSE: GLW) stock fell 2.4% after JPMorgan downgraded the technology company to ‘neutral’ from ‘overweight’, seeing considerable downside to current consensus earnings estimates.
Juniper Networks (NYSE: JNPR) stock fell 3.5% after JPMorgan downgraded the networking hardware manufacturer to ‘neutral’ from ‘overweight’, calling the company the most challenged on a relative basis among its networking peers.
Honeywell (NASDAQ: HON) stock rose 1.2% after the industrial conglomerate announced plans to restructure its business operations to three segments down from four to boost sales growth and reallocate capital.
- Lexicon Pharmaceuticals (NASDAQ: LXRX) stock rose 9% after the group said its heart failure drug had received preferred status at Express Scripts, the pharmacy benefits management unit of Cigna (NYSE: CI).