Stocks making the biggest moves premarket: GM, Exxon, Chevron, Apple, Boeing, Lowe’s & more

Stock Market

Check out the companies making headlines before the bell:

General Motors – GM workers went on strike against the automaker in the first nationwide walkout since 2007, after the two sides failed to agree on a new contract.

Exxon Mobil, Chevron – These and other energy stocks are getting a boost following the jump in oil prices. Exxon and Chevron in particular will help limit any losses seen by the Dow Jones Industrial Average.

Apple — Walt Disney CEO Bob Iger has resigned from Apple’s board of directors. His departure comes as Disney and Apple prepare to launch competing video services, Disney+ and Apple TV+.

Alder Pharmaceuticals – The drugmaker agreed to be bought by Denmark’s Lundbeck for nearly $2 billion. Alder is a U.S.-based company specializing in migraine treatments.

Square, PayPal – These and other payment firms are likely to grab as much as $280 billion in revenue from banks by 2025, according to a new study on global payments from consulting firm Accenture.

Aimmune Therapeutics – A Food and Drug Administration panel recommended approval of Aimmune’s treatment for peanut allergies in children. It would be the first-ever treatment on the market for that condition if the FDA follows the panel’s recommendation.

Blackstone – The private-equity firm bought Canadian office and industrial property manager Dream Global Real Estate Investment Trust for about $4.7 billion.

Boeing — The head of the UAE’s Civil Aviation Authority said he was not optimistic that Boeing could return its 737 Max to service by the end of this year. UAE airline flydubai is one of the largest Max customers.

Lyft, Uber – The ride-hailing stocks were both upgraded to “buy” from “hold” at HSBC. However, the price targets for both were cut – to $62 from $67 for Lyft, and to $44 from $49 for Uber. The firm said regulatory concerns surrounding both companies are already priced in.

Dick’s Sporting Goods – The sporting goods retailer was downgraded to “market perform” from “outperform” at Wells Fargo Securities in a valuation call, with the stock having hit its price target after a 25% year-to-date gain.

Lowe’s – Wedbush upgraded the home improvement retailer to “outperform” from “neutral,” pointing to signs of improving execution.

Aurora Cannabis – Aurora Cannabis was downgraded to “sell” from “hold” at Stifel Nicolaus, citing the near-term outlook for the cannabis producer, as well as negative investor sentiment for the sector.

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