Stocks making the biggest moves premarket: PDD Holdings, Boeing, Planet Fitness and more
Check out the companies making headlines before the bell: Boeing — Shares fell more than 1% after NASA announced Saturday it will turn to SpaceX to bring back two astronauts from the International Space Station. Boeing has said its Starliner was safe for the astronauts to fly home in case of an emergency, despite multiple delays to the return. NASA said its risk evaluation was different to that of Boeing’s. PDD Holdings — The Temu parent tumbled 16% on disappointing second-quarter results. The China-based online retailer posted revenue of 97.06 billion yuan versus a FactSet estimate of 100.17 billion yuan. Management said pressures on revenue growth are likely to continue on increased competition and other headwinds. BJ’s — Shares rose more than 1% after JPMorgan upgraded the wholesaler to neutral from underweight as the company reinvests in its business and benefits from consumers trading down. Planet Fitness — Baird kept its overweight rating and added a “bullish fresh pick” designation through year-end on Planet Fitness, leading shares 1.5% higher. The firm said it thinks the gym chain is an attractive play in a slowing growth environment. Petrobras — U.S.-listed shares of the Brazilian oil giant moved 2.3% higher following an upgrade to overweight from equal weight at Morgan Stanley. The bank sees strategy continuity with the new CEO and chief financial officer and the reintroduction of extraordinary dividends. SolarEdge Technologies — Shares rose more than 6% after SolarEdge announced CEO Zvi Lando stepped down from his post, effective immediately. Ronen Faier, who served as CFO previously, has been named interim chief executive. — CNBC’s Sarah Min, Michelle Fox and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
