Today's Pre-Market Stock Movers and Top Ratings: ARM, ADBE, SHAK, DASH and More

$Arm Holdings(ARM.US)$ stock rose 4.2% with the British chip designer set to continue to gain after its positive debut on Thursday, in demand after a strongly oversubscribed IPO, pushing its valuation above $72 billion.

$Goldman Sachs(GS.US)$ stock rose 0.4% after the WSJ reported that the investment bank plans to launch a sports franchise unit to offer stakes in sports team to high net worth clients.

$Anheuser-Busch Inbev(BUD.US)$ ADRs rose 0.5% after TD Cowen initiated coverage of the Bud Light owner with an 'outperform' rating, saying the world's largest brewer has a dominant position in Middle and South America and trends in the U.S. are stabilizing.

$KeyCorp(KEY.US)$ stock rose 1.9% after Piper Sandler upgraded its stance on the regional lender to 'overweight' from 'neutral'.

$Ford Motor(F.US)$ and $General Motors(GM.US)$ both dropped around 1% after the United Auto Workers union went on strike at their factories, marking the most ambitious U.S. industrial labor action in decades.

$Adobe(ADBE.US)$ stock fell 2.8% after the computer software maker offered up a tepid sales outlook despite growing AI optimism.

$Nucor(NUE.US)$ stock fell 2.7% after the largest U.S. steelmaker forecast a drop in earnings in this year’s third quarter, citing lower pricing.

$CAVA Group(CAVA.US)$ initiated at Hold by Loop Capital, announced target price at $40.

$3M(MMM.US)$ initiated at Hold by HSBC, announced target price at $109.

$Shake Shack(SHAK.US)$ was upgraded by Northcoast Research from Neutral to Buy, increased target price to $85.

$Estee Lauder(EL.US)$ was upgraded by Redburn Atlantic from Sell to Neutral, changed target price to $150.