Today's Morning Movers and Top Ratings: COIN, NKE, ADI, CVS and More

$Analog Devices (ADI.US)$ The semiconductor stock rose 1.1% following an Edward Jones upgrade to buy from hold. Edward Jones said the company should benefit as more automation and connected devices leads to more chips in each device. Elsewhere, UBS named Analog one of its semi stocks to like heading into 2024.

$Coinbase (COIN.US)$ The crypto exchange stock climbed 1.3% on the heels of an optimistic call from investment bank JMP. The firm nearly doubled its target share price for Coinbase, calling the company the Amazon of the cryptocurrency space.

$Rocket Lab (RKLB.US)$ Shares jumped 12.6% in Friday's premarket, a day after the space company disclosed an agreement with a U.S. government customer to design, make and manage 18 vehicles. Work will begin immediately to fulfill the contract, which is valued at $515 million in total.

$Nike (NKE.US)$ reported second-quarter results that beat analysts' expectations, but the sportswear giant tempered expectations, warning of a softer second-half outlook for revenue as it looks to streamline operations to cut costs. Nike announced EPS of $1.03 on revenue of $13.4 billion. Analysts polled by Investing.com anticipated EPS of $0.84 on revenue of $13.39B.

$NetEase (NTES.US)$ U.S.-listed shares of Chinese internet companies dropped after China published draft guidelines focused on mitigating incentives that can encourage gaming. NetEase dived 22.2%.