
Deere, Snowflake, and Starbucks Decline in Premarket Trading; Tesla and Salesforce Gain
U.S. stock futures experienced modest gains on Tuesday as investors processed remarks from several Federal Reserve officials while awaiting important inflation data.
Here are some of the significant premarket movers in U.S. stocks today:
-
Boeing: The stock declined by 0.1% after the aircraft manufacturer proposed an improved labor deal to its more than 30,000 striking workers in the Pacific Northwest. However, the union has indicated that it will not present the proposal for a vote.
-
Deere & Company: Shares fell by 1.1% following comments from former President Donald Trump, who threatened the agricultural company with a "200% tariff" if it relocates some production to facilities in Mexico.
-
Salesforce: The stock increased by 1.7% after Piper Sandler upgraded its investment recommendation for the software firm from "neutral" to "overweight," highlighting the possibility of free cash flow per share doubling to $20 by 2029.
-
Tesla: The stock rose by 0.9%, with Barclays anticipating a rise of 8% in the electric vehicle manufacturer’s third-quarter deliveries compared to the previous year, estimating around 470,000 units.
-
Visa: Shares dropped by 1.9%, as the U.S. Department of Justice is preparing to file an antitrust lawsuit against the credit card company, alleging anti-competitive practices.
-
Snowflake: The stock fell by 3.5% after the cloud data storage company announced a plan for a private placement of $2 billion in convertible notes.
-
Starbucks: Shares decreased by 1.6% after Jefferies downgraded its rating on the coffee chain from "hold" to "underperform," arguing that the recent surge driven by its CEO was excessive.
- Lowe’s: The stock climbed by 1.6% following an upgrade from Oppenheimer, which raised its rating on the retailer from "perform" to "outperform," noting that demand trends in home improvement typically improve as lending rates ease.