Stocks making the biggest moves premarket: Chewy, Birkenstock, GameStop and more
Check out the companies making headlines before the bell. Birkenstock — The shoe company jumped 3.5% after UBS upgraded shares to buy from neutral. The investment bank cited higher average sales prices and strong growth in the Asia market. Chewy , GameStop — Shares of Chewy soared more than 16% after regulatory filing showed meme stock trader "Roaring Kitty" bought 9 million shares, amounting to a 6.6% stake in the pet food e-commerce retailer. His other favorite stock, GameStop, shed nearly 7%. Boeing , Spirit AeroSystems — Boeing on Monday said it would buy back fuselage maker Spirit AeroSystems in a $4.7 billion all-stock deal. Boeing shares dipped 0.3%, while Spirit AeroSystems shares popped 4.5%. Verizon — Shares ticked up 0.5% after Goldman Sachs initiated coverage with a buy rating. Verizon shares will rise amid an improving competitive backdrop in the telecommunications industry, according to Goldman Sachs. Intercontinental Exchange — The financial exchange's shares rose 1.4% on the back of a Goldman Sachs upgrade to buy from neutral. Goldman said the company's earnings per share can increase at a faster rate, helped in part by its leadership in energy markets. Nvidia — The chipmaker shed more than 1% in the premarket as the second half of 2024 kicked off. Shares rallied 150% in the first six months of the year, as investors added to bets that artificial intelligence will drive profits higher. — CNBC's Alex Harring, Sarah Min and Michelle Fox contributed reporting