**Companies Making Headlines in Premarket Trading**
*Affirm*
In premarket trading, Affirm, the fintech provider of “buy now pay later” services, saw a 2% rise after an upgrade to hold at Jefferies on Tuesday. The upgrade was based on recent evidence of stabilizing cost of capital and capital markets activity, stabilizing credit performance, and ongoing momentum in adoption rates for BNPL.
*Boeing*
The maker of 737 Max jetliners, Boeing, gained about 2% premarket after an upgrade to outperform at RBC Capital Markets. Analyst Ken Herber said the 2024 outlook for Boeing is more favorable as demand in both the company’s commercial and defense segments grows more sustainable.
*Crocs*
Crocs, the maker of iconic, soft footwear, rose more than 2.3% on the heels of an upgrade to strong buy at Raymond James. Analyst Rick Patel is more confident on Crocs’ business structure heading into 2024 and thinks the stock’s price-to-earnings ratio is “highly discounted given our expectation of moderate revenue growth.”
*Carlyle Group*
The private equity asset manager with almost $400 billion under management climbed more than 5% premarket after S & P Dow Jones Indices added it to the S & P SmallCap 600 index effective premarket Thursday.
*nLIGHT*
Shares of the maker of semiconductor lasers, fiber lasers, and optical fibers, nLIGHT, gained more than 4% after an upgrade to speculative buy at Benchmark. The firm highlighted a new army contract worth $35 million to produce a high energy laser, which “could result in orders which we estimate could be up to dozens of laser systems in 24-to-36 months time.”
*Glaukos Corporation*
Shares of Glaukos Corporation climbed 2.4% after Truist initiated coverage of the medical device stock with a buy rating. Analyst Samuel Brodovsky said Glaukos could see revenue growth expand to 20% or more in 2025 alongside improved profit margins.
*Shopify*
Shares of the e-commerce platform fell nearly 3% premarket after Piper Sandler cut it to underweight from neutral. The Wall Street firm said the shares hold “an untenable valuation” because consensus growth and profit expectations are too aggressive.
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In the latest news on premarket trading, several companies have made headlines with notable movements. Here is a breakdown of the key developments in the market prior to the opening bell.
**Affirm’s Rise**
Affirm, the provider of “buy now pay later” services, experienced a 2% increase after receiving an upgrade to hold at Jefferies. This boost was attributed to several factors including stabilizing cost of capital and capital markets activity, improving credit performance, and ongoing momentum in adoption rates for their BNPL services.
**Boeing’s Upward Momentum**
Boeing, the maker of 737 Max jetliners, gained approximately 2% premarket following an upgrade to outperform at RBC Capital Markets. Analyst Ken Herber expressed optimism for Boeing’s 2024 outlook, citing sustainable growth in both the commercial and defense segments.
**Crocs’ Positive Outlook**
Crocs, known for their iconic, soft footwear, saw a rise of over 2.3% after an upgrade to strong buy at Raymond James. Analyst Rick Patel expressed confidence in Crocs’ business structure for the upcoming year and highlighted the stock’s discounted price-to-earnings ratio.
**Other Notable Movements**
Other companies that made headlines in premarket trading include Carlyle Group, nLIGHT, Glaukos Corporation, and Shopify. Carlyle Group climbed more than 5% after being added to the S & P SmallCap 600 index, while nLIGHT saw a significant gain following an upgrade to speculative buy at Benchmark. Glaukos Corporation also experienced an increase in shares after receiving a buy rating, while Shopify faced a decline after being downgraded by Piper Sandler.
The fluctuating market trends in premarket trading emphasize the dynamic nature of the stock market and the impact of analyst recommendations on investor sentiment.
