Check out the companies making headlines before the market opens. Birkenstock — Shares of the footwear company rose 3.5% after UBS upgraded the shares to buy from neutral. The investment bank pointed to higher average sales prices and strong growth in the Asian market. Chewy, GameStop — Chewy shares soared more than 16% after regulatory filings showed Meme stock trader “Roaring Kitty” purchased 9 million shares, equivalent to a 6.6% stake in the pet food e-commerce retailer. Another of his favorite stocks, GameStop, fell nearly 7%. Boeing Co., Spirit AeroSystems – Boeing said on Monday it would repurchase airframe maker Spirit AeroSystems in an all-stock deal worth $4.7 billion. Boeing shares fell 0.3% and Spirit AeroSystems shares rose 4.5%. Verizon — Shares of Verizon rose 0.5% after Goldman Sachs gave the stock a buy rating. Goldman Sachs said Verizon’s stock price will rise as competition in the telecom industry intensifies. Intercontinental Exchange – Shares of the financial exchange rose 1.4% after Goldman Sachs upgraded its rating to buy from neutral. Goldman Sachs said the company’s earnings per share can grow at a faster pace, thanks in part to its leading position in energy markets. Nvidia — Shares of the chipmaker fell more than 1% in premarket as the second half of 2024 begins. Shares rose 150% in the first six months of this year as investors ramped up bets that artificial intelligence would drive profits. —CNBC’s Alex Harring, Sarah Min and Michelle Fox contributed reporting
