Today's Morning Movers and Top Ratings: AMD, RIVN, DDOG, JBLU and More

Movers and Shakers wrote a column · Dec 7, 2023 07:14

Morning Movers

Gapping up

$Advanced Micro Devices(AMD.US)$ Shares of the chipmaker rose 2% in premarket trading as investors digested the details of the new Instinct MI300X product that AMD unveiled on Wednesday afternoon. The chip is designed to take advantage of the boom in demand for computing power from artificial intelligence.

$JetBlue Airways(JBLU.US)$ on Thursday narrowed its annual adjusted loss forecast, riding on strong demand for travel during the holiday period and sending its shares 7% higher in premarket trading.

The company now expects 2023 per-share adjusted loss to be in the range of 50 cents to 40 cents, compared with its previous forecast of 65 cents to 45 cents. The company also tightened its annual revenue growth forecast to 4% to 5%, compared with an increase of 3% to 5% estimated earlier.

$Dollar General(DG.US)$ stock is up 3.1% in pre-market trading following the release of third-quarter earnings that exceeded the average analyst estimate. The company reported earnings per share of $1.26 on revenue of $9.69 billion, just ahead of the Street at $1.20 for Q3 EPS and revenue of $9.65 billion. Revenue rose 2.4% year-over-year.

$Datadog(DDOG.US)$ Shares of Datadog gained 1.4% in early trading Thursday after it fetched yet another bullish analyst. Stifel analysts upgraded shares to Buy from Hold while lifting the price target to $140 from $98. The firm's customer survey shows customers emphasize value-driven pricing and plan a 12% spend increase next year.

$Rivian Automotive(RIVN.US)$ Shares added 2.6% after Stifel initiated coverage of the electric vehicle company with a buy rating. The investment bank thinks industry headwinds will abate over the next few years and pointed to Amazon’s agreement to buy 10,000 vehicles from Rivian as a catalyst for the stock.

Gapping down

$Take-Two Interactive Software(TTWO.US)$ Shares of the video game company slipped roughly 2% after a downgrade to neutral from Bank of America on Thursday, with analyst Omar Dessouky proclaiming the stock is in a “holding pattern” until the 2025 release of Grand Theft Auto VI.

Source: CNBC; Investing.com

US Top Rating Updates on 12/07