Today's Morning Movers and Top Ratings: COST, PFE, DAL, DRI and More

$COST.US$ shares saw an increase of nearly 1.34% as the company announced its first membership fee increase since 2017, raising the cost of its annual membership in the U.S. and Canada by $5 and its higher-tier plan by $10.

$PFE.US$ 's stock went up nearly 2.8% following the company's announcement that it will proceed with the development of a once-daily version of its weight loss pill, spurred by promising early-stage trial data. Pfizer also plans to conduct further studies on multiple doses of the drug later in the year.

$AA.US$ experienced a 3.64% uplift in its shares after announcing preliminary second-quarter results that were stronger than anticipated. The aluminum producer expects adjusted earnings between 8 cents to 19 cents per share, surpassing the 7 cents per share forecast by analysts. Revenue is estimated to be between $2.85 billion to $2.925 billion, which is above the analyst projection of $2.83 billion.

$SPOT.US$ shares climbed nearly 1.31% after Jefferies upgraded the stock from hold to buy and selected it as a top pick in the music industry. Jefferies cited Spotify's potential to consistently increase prices in the upcoming years as a factor.

$MSTR.US$ shares jumped more than 6.45% after the bitcoin development firm declared a 10-for-1 stock split.

$DAL.US$ saw its shares tumble by 8.98% after the company provided a sales growth forecast for the current quarter that fell short of expectations. The airline also reported a 30% decrease in net income for the second quarter, despite achieving record-high revenue.

$PEP.US$ 's stock dipped by 2.94% as the beverage and snack titan revealed a slight revenue shortfall for the second quarter and revised its full-year revenue forecast. PepsiCo now expects organic revenue growth of about 4%, a slight decrease from its previous projection of a minimum of 4%. However, its quarterly adjusted earnings per share exceeded expectations.

$ON.US$ stock declined by 3.12% after Morgan Stanley downgraded the shares to underweight due to concerns about top-line headwinds that could limit the potential for multiple expansion.

$DRI.US$ shares dropped by 1.85% following a downgrade by Jefferies to underperform from hold, with the firm indicating that the parent company of Olive Garden may face challenges to its near-term fundamentals.