The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco on September 30, 2022.

Justin Sullivan | Getty Images

Check out the companies making headlines before the bell:

Carnival, Royal Caribbean Group – Both cruise lines rose about 2% after Truist’s upgrade. The Wall Street firm downgraded Royal Caribbean from “Buy” and “Carnival” from “Hold,” citing forward-looking trends for 2024 and 2025 that appear “exceptionally strong.” Truist maintained its Hold rating on Norwegian Cruise Lines, which rose more than 1% in premarket trading.

Deere & Company, CNH Industrial – The two stocks fell premarket after Evercore ISI downgraded each from Outperform to Inline, citing agricultural production cuts. Deere fell 1.4%, CNH fell 1.2%.

Starbucks – Shares fell 1.2% after TD Cowen downgraded the coffee giant due to the “concerning” macroeconomic situation in China. The company believes slower consumer spending in China could hurt stock growth and impact Starbucks’ valuation.

CVS Health – The pharmaceutical stock rose less than 1% after Evercore ISI upgraded CVS Health from Inline to Outperform on Tuesday, saying the stock is currently attractively valued.

Dell Technologies – Shares rose more than 1.2% after Daiwa Capital Markets upgraded the computer stock to outperform the market. The Wall Street firm raised its price target to $80 per share from $50, an increase of about 16% from Monday’s close.

Super Micro Computer – The information technology stock rose more than 2% after Barclays initiated coverage of Super Micro Computer with an overweight rating on Tuesday. The company’s price target of $327 represents an increase of nearly 34% from Monday’s close.

Planet Fitness – The gym’s recent CEO reshuffle contributed to JPMorgan downgrading the stock to Neutral from Overweight. Along with the downgrade, the company lowered its price target on Planet Fitness from $70 to $52, still implying 7% upside potential. Shares fell about 2% premarket.

— CNBC’s Michelle Fox and Hakyung Kim contributed reporting

Source :

Leave a Reply

Your email address will not be published. Required fields are marked *