Today's Morning Movers and Top Ratings: AAPL, WBA, CRM, H and More

The stock gained 3.7% in early trading Monday following a rare upgrade of the pharmacy giant - its first of the year. JP Morgan analysts upgraded the stock to Overweight from Neutral with a price target of $30, up from $27.

With Tim Wentworth assuming the role of CEO, the analysts see a "new era" for the company. "We believe that Wentworth's background within healthcare services, most recently Express Scripts and Cigna, suit him very well to manage WBA and work with key stakeholders," the analysts commented.

Meanwhile, the cash flow outlook is anticipated to see enhancements in FY24, with expectations of a potential dividend reduction already factored in and a strong emphasis on prioritizing debt reduction.

Apple's stock fell 1.1% after Foxconn, a major supplier of Apple's iPhones, faces a tax probe in China, according to a report in the state-backed Global Times newspaper.

The stock fell 1.5% after the EV manufacturer said its capital expenditure for 2023 would exceed the $7 billion to $9 billion target it had laid out earlier this year.

The software giant lost nearly 2% after Piper Sandler downgraded shares to neutral from overweight, citing heightened execution and M&A risks.

Shares of the cybersecurity firm fell more than 3% in premarket trading as investors considered the fallout from a data breach at the company announced last week. The slide comes after a drop of more than 11% on Friday. Citi and Evercore ISI both warned that Okta’s business could suffer a near-term hit from as a result of the attack.

Source: Dow Jones