Today's Pre-Market Stock Movers: META, CAT, RL, NKLA and More
Gapping up
$Fidelity National Information Services (FIS.US)$ +2.1%(Reuters reported the company was preparing to break up and plans to pursue a tax-free spinoff of its merchant business.)
$Nikola (NKLA.US)$ +1.2% (The company has started work on hydrogen plants, The Wall Street Journal reported. The company also has signed up a handful of hydrogen producers that have agreed to supply hydrogen for Nikola vehicles in parts of the U.S. and Canada. Nikola makes battery- and hydrogen-powered semi-trucks.)
$Ralph Lauren (RL.US)$ +2.5% (Bank of America upgraded the stock to buy from neutral, and also raised its price target, saying the brand is differentiating itself among its peers during challenging time. The call follows an upbeat earnings report on Thursday.)
$Meta Platforms (META.US)$ +2.6% (A report from the Financial Times that said the parent company of Facebook has delayed finalizing multiple teams' budgets while it prepares a fresh round of job cuts. Meta laid off 11,000 workers , or 13% of its workforce, in November.)
$Five Below (FIVE.US)$ +1.2% after shares of the retailer were upgraded to Buy from Neutral at Roth MKM.
Gapping down
$Norfolk Southern (NSC.US)$ -3.42% (EPA could hold Norfolk Southern liable for East Palestine train derailment, says CBS News)
$Check Point Software (CHKP.US)$ -2% (The compnay reported fourth-quarter adjusted earnings of $2.45 a share, beating analysts' forecasts of $2.36. The company's board also authorized a $2 billion expansion of Check Point's stock buyback program.)
$Caterpillar (CAT.US)$ -1.3% (The construction-equipment maker were downgraded to Neutral from Outperform at Baird.)
Other
Earnings reports are expected after the closing bell Monday from Arista Networks (ANET), SolarEdge Technologies (SEDG), and Palantir Technologies (PLTR).
Source: Dow Jones
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