Today's Pre-Market Stock Movers And Top Ratings: HPQ, TXN, RAD, JNJ and More

$NVIDIA(NVDA.US)$ stock rose 0.4%, adding more gains after the chipmaker recorded its highest-ever closing price on Tuesday, as it has become the focal point of a recent surge in enthusiasm around the applications of generative artificial intelligence.

$HP Inc(HPQ.US)$ stock fell 8.3% after the information technology company tempered expectations for annual profit, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China.

$Hewlett Packard Enterprise(HPE.US)$ stock fell 1.8% after the tech company forecast fourth-quarter revenue below expectations, at a time when demand for the company's servers is taking a hit from soft enterprise spending.

$Coinbase(COIN.US)$ stock fell 0.6%, handing back some of the previous session's 15% gains as the cryptocurrency exchange benefited from a landmark decision by an appeals court in the U.S. which set the stage for a spot bitcoin exchange-traded fund.

$Johnson & Johnson(JNJ.US)$ stock fell 0.2% after the pharmaceutical giant forecast 12.5% growth in its annual adjusted profit, a downwards revision, after completing the separation of consumer health company Kenvue (NYSE:KVUE), up 0.2%.

$Peloton Interactive(PTON.US)$ stock fell 2.3% after Macquarie downgraded the exercise bike manufacturer to 'neutral' from 'outperform', citing last week's earnings miss and weaker-than-expected revenue guidance for the first quarter of 2024.

$Rite Aid(RAD.US)$ stock fell 4.9% after S&P Global Ratings downgraded its credit rating on the drugstore chain due to increased risk from restructuring.

$Texas Instruments(TXN.US)$ stock fell 2.1% after Bernstein downgraded its stance on the chipmaker to 'underperform' from 'market perform', saying it's poised to fall 15%.

$Cognex(CGNX.US)$ initiated at Neutral by Citigroup, announced target price at $52.

$Atour Lifestyle Holdings(ATAT.US)$ initiated at Overweight by Morgan Stanley, announced target price at $36.

$Hercules Capital(HTGC.US)$ was upgraded by Compass Point from Neutral to Buy, increased target price to $18.

$Texas Instruments(TXN.US)$ was downgraded by Bernstein from Market Perform to Underperform, decreased target price to $145.