Today's Pre-Market Stock Movers: DAL, MRK, FSLR, HOG and More

Movers and Shakers wrote a column · Apr 13, 2023 21:04

Gapping up

$Delta Air Lines (DAL.US)$ +2% (The airline projected "record advance bookings for the summer." It expects sales in the current quarter to increase by 15% to 17% over last year, topping Refinitiv estimates of 14.7%. Delta forecasted adjusted earnings per share of between $2 and $2.25, versus the $1.66 expected by analysts.)

$United Airlines (UAL.US)$ +2%, $American Airlines (AAL.US)$ +1.9% (Shares of other airlines also rose after Delta signaled strong demand for travel.)

$Merck & Co (MRK.US)$ +1% (The company was upgraded by Citi to buy from neutral, saying its drug pipeline is underappreciated. The Wall Street firm boosted the stock's price target to $130, which implies 14% upside from Wednesday's closing price.)

$Steven Madden (SHOO.US)$ +2.7% (The company was upgraded to buy from neutral by Citi. The Wall Street firm said it expects Steve Madden to begin seeing stronger wholesale reorders in the second quarter.)

$NOVO NORDISK A/S (NONOF.US)$ +2% (The maker of diabetes and weight loss drugs Ozempic and Wegovy moved about 2% higher in the premarket after being upgraded by Credit Suisse to outperform from neutral. The Wall Street firm said growth in the drugs has "significantly outperformed" its expectations.)

Gapping down

$First Solar (FSLR.US)$ -1.4% (The solar stock received a downgrade to hold from buy by Deutsche Bank. The firm said the stock is expensive after its recent rally.)

$Harley-Davidson (HOG.US)$ -4% (UBS said retail declines for the motorcycle maker in the first quarter may be worse than expected. The Wall Street firm said retail sales could be down close to 20% at U.S. dealers.)

Source: Dow Jones, CNBC

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