Let’s take a look at some of the companies that are catching our eye in premarket trading. McDonald’s — Shares were slightly lower in the premarket after the fast-food giant reported second-quarter results that fell short of analysts’ expectations. McDonald’s also said same-store sales, a key metric for restaurants, declined broadly. Revvity — Shares rose 6% after the life sciences company reported better-than-expected second-quarter results. Adjusted earnings were $1.22 per share, beating the FactSet consensus estimate of $1.12 per share. Revenue was $691.7 million, beating analysts’ estimates of $690.3 million. Olin — The chemicals maker rose 1.4% after JPMorgan upgraded it to overweight from neutral. The company credited Olin’s work to stabilize chlorine and caustic soda prices amid low utilization rates as successful. Akamai Technologies — Cloud security company Akamai Technologies rose 2% after Guggenheim upgraded the stock to a buy recommendation. The firm sees Akamai’s shares rising more than 30% as it leverages its leadership position in the content delivery network business. Bristol-Myers Squibb — The pharmaceutical stock fell 1.5% after Barclays downgraded it to underweight from equal weight. The firm said Bristol-Myers Squibb’s shares may have risen too quickly. Barclays said the company’s shares have risen 25% in 11 days despite little change in underlying fundamentals. The announcement came after Bristol-Myers Squibb reported better-than-expected profits and raised its full-year guidance on Friday. Tesla — The electric car maker rose 1.5% after being named a top U.S. auto stock pick by Morgan Stanley analyst Adam Jonas.Tesla Inc. replaced Ford, whose shares were little changed in Monday’s premarket. Stellantis — The automaker fell 3.6% after Deutsche Bank downgraded it to “hold” from “buy.” Deutsche Bank said its guidance may be at risk as the Chrysler and Dodge maker faces multiple challenges in a tough environment. Coinbase, MicroStrategy — The cryptocurrency exchange and bitcoin developer rose about 4% each on the back of a rally in the digital currency. Bitcoin was last up more than 2%. Disney — Shares rose nearly 1% on strong box office results for “Deadpool & Wolverine.” The Marvel movie made more than $200 million in its opening weekend, a record-breaking debut for an R-rated movie. — CNBC’s Samantha Sabin, Sarah Min, Michelle Fox and Fred Imbert contributed reporting
Biggest pre-open moves: MCD, TSLA, STLA
