Today's Pre-Market Stock Movers And Top Ratings: ORCL, BBY, CRM, PDD and More

$Best Buy (BBY.US)$ stock rose 1.1% after the electronics retailer reported a smaller-than-expected drop in quarterly comparable sales, as deeper discounts encouraged consumers to shop.

$Verizon (VZ.US)$ stock rose 1.5% and AT&T (NYSE:T) stock climbed 1.7% after Citigroup upgraded both telecom giants to ‘buy’ from ‘neutral’, saying they support their dividend yields.

$Oracle (ORCL.US)$ stock rose 2.7% after UBS upgraded the tech company to ‘buy’ from ‘neutral’, saying it can jump another 20% as its AI story has “plenty of room” to run.

$Catalent(Delisted) (CTLT.US)$ stock rose 3.6% after the contract drug manufacturer confirmed it has reached a settlement with activist investor Elliot Investment Management, agreeing to add four new directors to its board and to conduct a "strategic review." It added it was delaying its annual report.

$PDD Holdings (PDD.US)$ U.S.-listed shares of the Chinese e-commerce company popped nearly 14% after PDD reported second-quarter earnings that surpasses Wall Street's expectations. PDD also said it saw a “positive shift in consumer sentiment” during the second quarter.

$Shoe Carnival (SCVL.US)$ stock fell 9.2% after the footwear retailer cut its revenue guidance for the full year to $1.2 billion at the midpoint from $1.24B, citing a “challenging economic backdrop.”

$Salesforce (CRM.US)$ stock fell 2% after JPMorgan removed the business software maker from its U.S. analyst focus list.

$NIO Inc (NIO.US)$ ADRS fell 6.5% after the Chinese EV maker posted a widening of quarterly losses as it missed revenue expectations for the fourth straight quarter.

$Xylem (XYL.US)$ initiated at Neutral by Seaport Global.

$Rockwell Automation (ROK.US)$ was upgraded by Wells Fargo from Underweight to Equal-Weight, increased target price from $290 to $317.

$Farfetch (FTCH.US)$ was downgraded by Morgan Stanley from Overweight to Equal-Weight, decreased target price from $20 to $5.

$Celanese Corp (CE.US)$ was downgraded by Piper Sandler from Neutral to Underweight, decreased target price from $120 to $112.