Today's Morning Movers and Top Ratings: DNUT, WDC, SNOW and More

$ShockWave Medical (SWAV.US)$ stock rose 1.6% after Johnson & Johnson announced it would buy the company for $12.5 billion. The transaction would boost J&J’s portfolio of cardiovascular disease treatment devices.

$Krispy Kreme (DNUT.US)$ stock rose 5.3% after Piper Sandler upgraded its stance on the doughnut chain to 'overweight' from 'neutral’, saying its national partnership with McDonald’s (NYSE:MCD) could be a pivotal moment.

$Cinemark (CNK.US)$ shares of the movie theater chain popped nearly 5% following a double upgrade to overweight from underweight at Wells Fargo. Analyst Omar Mejias pointed to rising demand, better performance and an overall positive backdrop for the movie industry as catalysts.

$Fox Corp-A (FOXA.US)$ stock rose 1% following an upgrade to buy from neutral at Seaport Research. As reasons for the upgrade, the investment firm cited cyclically strong ad spending, Fox’s growing Tubi service, solid ratings momentum and the company’s healthy balance sheet.

$Western Digital (WDC.US)$ stock rose nearly 3.5% after an upgrade to buy from neutral by Rosenblatt Securities. Western Digital should benefit from a broad rise in prices for a key type of memory chip, Rosenblatt said.

$Snowflake (SNOW.US)$ shares gained 1.4% after Rosenblatt Securities upgraded the cloud computing company to buy from neutral, citing healthy customer interest in the platform.

$Agilent Technologies (A.US)$ rose more than 1% after receiving an upgrade to buy from hold at Stifel. Analyst Daniel Arias believes that good instrument demand and an attractive valuation will make the stock more compelling to investors.

$Altice USA (ATUS.US)$ dropped nearly 6% after Wells Fargo downgraded the cable television firm to underweight from equal weight. The bank is now skeptical on Altice’s M&A prospects, analyst Steven Cahall wrote.

$The Scotts Miracle (SMG.US)$ slipped 0.8% following a downgrade by Truist to hold from buy. The firm said much of the near-term good news is now priced into the stock and sees limited catalysts on the horizon for a move higher.