PRISM Stocks making the biggest moves premarket: FedEx, Coinbase, Yum Brands and more
Take a look at the leading companies making waves ahead of the market opening.
Rubrik is in the spotlight as the data management software provider’s shares climbed 1% after it announced an agreement to acquire the AI model deployment startup, Predibase. Informants indicate Rubrik plans to invest up to $500 million in this acquisition, according to CNBC.
Watch BlackBerry as it sees a 7% jump. This cybersecurity giant outstripped analyst expectations with its stellar first-quarter revenue and profit. Moreover, BlackBerry has upped its entire year’s revenue and adjusted earnings forecast.
Coinbase is on the rise with shares appreciating around 3%. Bernstein stands firmly behind Coinbase with an outperform rating, boosting its price target by a remarkable 65% to $200. The increase emphasizes Coinbase’s leading position in the U.S. crypto trading scene amidst skepticism from analysts.
Yum Brands got a 1%+ boost after JPMorgan upgraded the company to overweight. The banking titan cited strong free cash flow and other positive indicators as potential drivers for further share price gains.
Although FedEx faced turbulence with a 5% drop, it remains a crucial watch. This Memphis-based shipping company provided weaker-than-anticipated earnings guidance for the current quarter but impressed with results for the fiscal fourth quarter beating expectations.
QuantumScape electrified the market, with shares soaring over 35%. The company specializing in solid-state lithium-metal batteries announced its innovative Cobra separator process’s integration into baseline cell production, boosting both speed and energy efficiency according to its latest press release.
