Several companies were making headlines before the bell. Boeing’s stock dropped 4% after factory workers went on strike following the rejection of a new labor contract. This work stoppage is expected to impact production of most aircrafts, including the 737 Max. On the other hand, Oracle saw its shares rally over 6% after lifting its revenue forecast for fiscal 2026 and providing strong guidance for the 2029 fiscal year. Moderna, however, saw shares fall 4% after JPMorgan downgraded the drugmaker to underweight, citing potential changes to the company’s long-term revenue forecast.
RH, a home furnishings retailer, experienced a surge in its stock price, jumping 21% after reporting a stronger-than-expected second quarter. The company’s CEO mentioned in a letter that demand had “accelerated” into the third quarter and they expect this trend to continue into 2025. Adobe, on the other hand, saw its shares sink more than 8% after issuing softer-than-expected guidance for the current quarter, despite beating fiscal third-quarter estimates on both top and bottom lines. Aptiv PLC, an auto parts company, saw a 3% increase in its stock price after CEO Kevin Clark purchased nearly 30,000 shares of the company earlier in the week.
AstraZeneca, a biopharmaceutical company, saw its U.S. listed shares rise 1.5% despite being downgraded to sell from hold by Deutsche Bank. This downgrade was influenced by the disappointing performance of AstraZeneca’s datopotamab deruxtecan drug. Overall, the stock market saw a mix of positive and negative movements as investors reacted to the latest news and developments from these companies.
Boeing’s strike by factory workers had a negative impact on its stock price, with shares falling 4%. The rejection of a new labor contract led to the work stoppage, affecting production of various aircrafts, including the 737 Max. Meanwhile, Oracle’s stock rallied more than 6% after the company raised its revenue forecast for fiscal 2026 and provided strong guidance for the 2029 fiscal year. This positive news boosted investor confidence in the company’s future prospects.
Moderna experienced a drop in its shares by 4% after JPMorgan downgraded the drugmaker to underweight. The downgrade was based on expectations of changes to the company’s long-term revenue forecast, which could weigh on the stock. In contrast, RH saw a significant increase in its stock price, surging 21% after reporting better-than-expected second-quarter results. The company’s CEO expressed optimism about future demand trends, expecting acceleration into the third quarter and 2025.
Adobe’s stock tumbled more than 8% following softer-than-expected guidance for the current quarter, despite beating fiscal third-quarter estimates. This discrepancy between performance and outlook led to a negative reaction from investors. Aptiv PLC, however, saw a 3% increase in its stock price after CEO Kevin Clark purchased a significant number of shares earlier in the week, signaling confidence in the company’s future growth prospects.
AstraZeneca’s U.S. listed shares rose 1.5% despite being downgraded to sell from hold by Deutsche Bank. The downgrade was attributed to the disappointing performance of AstraZeneca’s datopotamab deruxtecan drug, which impacted investor sentiment. Overall, the stock market experienced a mix of movements as investors digested the latest news and developments from these companies, reacting both positively and negatively to the various updates.
