Check out the companies making headlines before the market opens. Crypto Stocks – Cryptocurrency-related stocks rose as Bitcoin soared above $64,000 earlier this week. MicroStrategy and Mara Holdings (formerly Marathon Digital) extended gains from the previous session, rising more than 5% each, while Coinbase gained more than 3%. Flutter Entertainment – FanDuel parent company shares rose 4% after Wells Fargo upgraded the stock to “overweight,” saying investors should consider buying the stock after the recent selloff. Boeing – Shares of Boeing fell 2.3% after the planemaker announced Friday afternoon plans to cut about 10% of its workforce, or about 17,000 jobs. Boeing has also delayed deliveries of its yet-to-be-certified 777X wide-body jet and forecast a larger-than-expected third-quarter loss. The company faces mounting losses due to the ongoing machinists’ strike. Sirius XM Holdings – Shares of the audio entertainment company rose 3.5% after Warren Buffett’s Berkshire Hathaway disclosed it was buying more shares. Berkshire bought about 3.6 million Sirius shares last week, bringing its total holdings to more than 108 million shares, according to a securities filing. Caterpillar – Shares of the industrial company fell more than 2% after Morgan Stanley downgraded the stock to underweight from equal weight. The investment bank noted the potential for inventory drawdowns ahead and a negative risk-reward backdrop for the stock. Ibotta – Shares of Ibotta rose nearly 4% after Goldman Sachs upgraded the company to buy from neutral, saying the mobile company that provides cash back rewards to users has “attractive risk/reward” at its current valuation. The Wall Street firm pointed to growth opportunities through partnerships with Walmart and Instacart. AppLovin – The action technology stock fell 3.7% after Goldman Sachs downgraded its rating to “neutral” from “buy.” After a recent period of substantial outperformance, the bank said AppLovin’s risk-reward balance is more balanced. Hims & Hers Health — Shares of Hims & Hers Health rose more than 6% after the U.S. Food and Drug Administration said it would allow compounding pharmacies (pharmacies that sell custom-made medications) to sell its own version of Eli Lilly and Co.’s weight loss drug Mounjaro. —CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Sarah Min, Hakyung Kim and Pia Singh contributed reporting.
