Stocks making the biggest moves premarket: Robinhood, Boeing, Moderna & more
Check out the companies making the biggest moves premarket: Boeing — Shares were up 2% after the company secured a deal with the defense department to develop the next generation of fighter jets . The $20 billion contract will have Boeing develop the Sixth-Generation F/A-XX Strike Fighter. Northrop Grumman , which was reportedly also in contention for the contract , tumbled 3.5%. Robinhood Markets — The online brokerage platform was up 2% following its announcement of an in-app AI agent for its traders. It also announced it will launch 24/7 trading for certain stocks and introduce perpetual futures to its U.S. users soon. Concentrix — The stock was down 9.5% after it reported revenue for its fiscal third-quarter earnings report that came in slightly below expectations. Non-GAAP earnings per share and revenue guidance for the current quarter were also below estimates, according to analysts polled by FactSet, and the company said on its earnings conference call that its AI transition is putting pressure on revenues. Moderna — The pharmaceutical company declined more than 6% after Citi downgraded the stock to sell . Analysts at the bank have a price target that is 60% below the stock’s closing price on Tuesday, and they said the stock’s current valuation can’t be justified. FormFactor — Shares were higher by 1% after Deutsche Bank initiated coverage of the semiconductor testing company with a buy rating. Analysts said that the company is levered to rising chip testing intensity, and that it’s benefitting as FormFactor has cemented itself as “the second source of probe cards for Nvidia’s GPUs at TSMC.” Cal-Maine Foods — The egg producer tumbled more than 6.5% after it reported a wider-than-expected loss in its fiscal first-quarter earnings report. The company lost $1.26 per share, compared to analysts polled by FactSet’s expectation for a loss of 77 cents per share.
