Premarket movers
All Mag 7 names are higher: Tesla +1.2%, Nvidia +0.9%, Microsoft +0.8%, Amazon +0.7%, Alphabet +0.6%, Meta Platforms +0.4%, Apple +0.1%
AMD (AMD) is up 2% after the chipmaker’s CEO predicted “very high” chip demand over the next few years. Separately, analysts raised their price targets on the stock, citing growth from AI agent products.
BorgWarner (BWA) gains 3.7% as Morgan Stanley upgrades to overweight from equal-weight, noting that a long tail of internal combustion engine and hybrid demand supports the core auto outlook.
Constellation Energy (CEG) is up 6.1% after it announced a long-term deal with Google to bring 890 MW of new nuclear capacity over 20 years onto the PJM grid in Illinois, Pennsylvania and New Jersey.
Corteva Inc. (CTVA) is up 3% after JPMorgan raised its recommendation on the crop chemical company to overweight from neutral after it spun off its Vylor Inc. seed business.
JetBlue Airways (JBLU) gains 2.1% after Citi upgraded the airline to neutral from sell.
Option Care Health (OPCH) rises 21% after the Financial Times reports that McKesson and PE firm Clayton Dubilier & Rice are closing in on a deal to buy the provider of medical infusion services, in a transaction that would value the business at more than $5 billion including debt.
Procter & Gamble Co. (PG) is up 1.5% after Evercore ISI upgraded the maker of consumer products to outperform from inline, citing an improved growth outlook going forward.
Qiagen (QGEN) is up 2.6% and Fortrea Holdings (FTRE) gains 3.3% after Barclays analyst Luke Sergott upgraded both names to overweight from equal-weight ahead of third-quarter earnings.