Today's Morning Movers and Top Ratings: COIN, AMAT, DUOL, PDD and More

Crypto stocks have surged as Bitcoin reached a new record high, surpassing $71,000. $Coinbase(COIN.US)$ and $MicroStrategy(MSTR.US)$ saw gains of around 6% and 8%, respectively, while $Marathon Digital(MARA.US)$ also experienced a 6% increase.

$PDD Holdings(PDD.US)$ , the U.S.-listed shares of the Chinese e-commerce company, grew by 4.5% following an upgrade by Jefferies to buy, as market concerns about geopolitical risks are now considered reflected in the price, and Temu is expected to keep increasing its market share.

$Duolingo(DUOL.US)$ 's shares climbed over 1% after JPMorgan began covering the online learning platform, assigning an overweight rating due to prospects of "premium" revenue growth.

$Xcel Energy(XEL.US)$ 's shares went up by about 2% after Barclays shifted its rating to overweight, pointing out the shares' appealing discount and potential upcoming catalysts.

$Netflix(NFLX.US)$ shares increased roughly 1% in premarket trading after Oppenheimer lifted its price target, suggesting nearly 20% potential upside. The firm believes Netflix will maintain its dominance due to its proven ability to produce highly engaging content.

$Procter & Gamble(PG.US)$ 's stock saw a modest rise (0.9%) following an upgrade to buy from hold by Truist, with indications that Procter's business in China is showing signs of improvement.

$New York Community Bancorp(NYCB.US)$ shares edged up 1% in premarket trading, following a sharp drop of over 6% on Friday, as the stock continues to experience volatile trading subsequent to a billion-dollar capital raise the prior week.

$NVIDIA(NVDA.US)$ shares fell about 1%, compounding its more than 5% loss from the previous session, marking its largest single-day decline since May 2023.

$Applied Materials(AMAT.US)$ shares decreased by 0.6%, in spite of the semiconductor manufacturer announcing a 25% increase in its quarterly dividend, from 32 cents to 40 cents per share.