Today's Morning Movers and Top Ratings: AMZN, SHOP, ROKU, GEHC and More

Movers and Shakers joined discussion · Nov 27, 2023 06:57

Morning Movers

Gapping up

$Shopify(SHOP.US)$ Shares in Shopify rose by 4% in premarket trading after the e-commerce group said its merchants had posted an all-time high of $4.1 billion in combined sales on Black Friday.

Ottawa-based Shopify, which provides software and services to online sellers, said global sales by businesses using the platform had grown by 22% compared to the prior year during the annual post-Thanksgiving promotional event, with demand particularly strong for clothing, personal care products and jewelry.

The strong online demand is estimated to push sales on Cyber Monday -- the first Monday after Thanksgiving when firms typically offer special sales online -- up by 5.4% year-on-year to a record $12B, Reuters reported, quoting an analyst at Adobe Digital Insights.

$Amazon(AMZN.US)$ stock rose 0.7% after the online retail giant reached an agreement with most of its workers in Spain on Monday, avoiding the full impact of a planned one-hour strike per shift on one of the busiest online shopping days of the year.

$Walmart(WMT.US)$ stock rose 0.2% as Cyber Monday follows on from Black Friday, with this retail giant hoping to benefit from the largesse of shoppers.

$Roku Inc(ROKU.US)$ stock rose 1.1% after Cannonball Research upgraded the streaming device maker to ‘buy’ from ‘neutral’, expecting more significant upward revisions to the fiscal 2024 consensus.

Gapping down

$NOVO NORDISK A/S(NONOF.US)$ stock fell 0.9% after the drugmaker’s CEO Lars Fruergaard Jørgensen said, in a report in the Financial Times, that the company is ready to be "flexible" on pricing schemes for its Wegovy weight-loss drug as it attempts to make it more widely available.

$GE HealthCare Technologies(GEHC.US)$ stock fell 3.3% after UBS downgraded the medical devices maker to ‘sell’ from ‘neutral’, citing a combination of slower order momentum, tough comparables and a lack of pricing tailwinds.

Source: Investing.com

US Top Rating Updates on 11/27