Today's Pre-Market Stock Movers And Top Ratings: YELP, PEP, CHWY, MSCI and More

$Activision Blizzard(ATVI.US)$ +3.86% (The video-game maker popped 4% after Microsoft and Sony signed a deal to keep “Call of Duty” on Sony's PlayStation gaming consoles following Microsoft's acquisition of Activision Blizzard.)

$Chewy(CHWY.US)$ +5.29%  (Shares jumped more than 5% after Goldman Sachs upgraded them to buy from neutral. The firm said the e-commerce pet products company has an attractive risk-reward profile and could see margins expand.)

$Yelp Inc(YELP.US)$+3.6%  (Shares gained 3.6% after being upgraded by Goldman Sachs to buy from neutral. The Wall Street bank also raised its price target to $47, suggesting 23.3% upside from Friday’s close. Goldman cited rising advertising trends, incremental margin opportunity and increased shareholder returns in the years ahead for the call.)

$Tesla(TSLA.US)$ +1.91% (The electric-vehicle maker added nearly 2% in the premarket. On Saturday, the company said it built its first cybertruck after two years of delays.)

$PepsiCo(PEP.US)$ -1.2% (The beverage giant dropped 1.2% following a downgrade by Morgan Stanley to equal weight from overweight. Pepsi’s strong earnings report and potential upside are now priced into the stock, resulting in limited upside ahead, Morgan Stanley said.)

$Paramount Global-B(PARA.US)$ -2.8% (Shares of the entertainment company fell 2.8% in premarket trading after the latest installment in the “Mission: Impossible” franchise underperformed expectations at the box office. The movie earned $56.2 million domestically over the weekend — which was below the previous movie in the franchise — and $80 million over its first five days of release, according to Variety.)

$AT&T(T.US)$ -1.5% (Shares shed 1.5% following a downgrade by Citi to neutral from buy. The Wall Street firm cited the industry’s historical use of cabling sheathed in lead weighing on the company for at least a few months or potentially longer.)

$State Street(STT.US)$ -1.98% (The financial giant slipped about 2% in premarket trading. The stock was downgraded by JPMorgan to underweight from neutral following State Street’s earnings release Friday. State Street’s second-quarter revenue missed estimates, sending shares 12.1% lower on Friday.)

$BeiGene(BGNE.US)$ initiated at Buy by Citigroup, announced target price at $275.

$Stagwell(STGW.US)$ initiated at Buy by Goldman Sachs, announced target price at $12.

$Yelp Inc(YELP.US)$ was upgraded by Goldman Sachs from Neutral to Buy, increased target price to $47.

$Chewy(CHWY.US)$ was upgraded by Goldman Sachs from Neutral to Buy, increased target price to $50.

$MSCI Inc(MSCI.US)$ was downgraded by BNP Paribas from Neutral to Underperform, decreased target price to $450.

$PepsiCo(PEP.US)$ was downgraded by Morgan Stanley from Overweight to Equal-Weight, decreased target price to $210.