Stock Market

In this article

Vroom IPO at the Nasdaq site, June 9, 2020.
Source: Nasdaq

Check out the companies making headlines before the bell:

Poshmark — Shares spiked more than 5% after Barclays upgraded the online fashion retailer to overweight from equal weight. Poshmark will get a boost from the fast-growing second-hand clothing marketplace, especially if consumers trade down in a recession, Barclays said.

Vroom — Shares dropped more than 3% after JPMorgan downgraded the stock to underweight from neutral, saying that the online used car retailer will continue to see challenges amid a broader economic slowdown. Vroom has already plunged 80% this year.

Revolve — The stock fell more than 2% following a downgrade to underweight from equal weight from Barclays. The investment firm cited slowing revenue growth and tough comparisons at the clothing store company.

Green Plains — Green Plains declined more than 3% after Bank of America downgraded the stock to neutral from buy. The investment firm said the current valuation for the ethanol fuel producer is fair.

TaskUs — The outsourcing company for content moderation is facing near-term macro challenges, according to Morgan Stanley. The investment firm downgraded the stock to equal weight from overweight. Shares fell 3%.

Baidu, Alibaba, Pinduoduo — Shares of Chinese internet companies declined following weak economic data from China. Baidu, Alibaba and Pinduoduo each dropped more than 1%.

Comcast, Charter Communications — Shares of both broadband companies declined more than 1% following downgrades to neutral from Atlantic Equities. The firm cited worse-than-expected broadband results from both companies.

Dollar General — Shares of the discount retailer have fully priced in recession expectations, according to a Monday note from BMO Capital Markets. The firm downgraded Dollar General to market perform from outperform. The stock declined 1%.

Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC.

Articles You May Like

Chinese tech groups build AI teams in Silicon Valley
Gautam Adani indicted in the US for alleged bribery scheme
California’s Santa Barbara borrows for police station and park
European troops in Ukraine would secure Trump peace deal, says Estonia
UK inflation accelerates sharply to 2.3% in October