Take a look at the companies that are catching attention before the trading day begins. Spotify — Shares of the music streaming platform went up by 2% after UBS upgraded them from neutral to buy. According to analyst Batya Levi, “We think efficiency initiatives remain the focus and have increased conviction on sustainable margin expansion and stronger bottom line trends in the coming years.” Pfizer — The biopharmaceutical giant saw a 1% increase after posting mixed fourth-quarter results. Pfizer reported adjusted earnings of 10 cents per share, while analysts expected a loss of 22 cents per share. However, the company’s revenue of $14.25 billion was lower than the consensus estimate of $14.42 billion. Masimo — The health technology company decreased by 1.4% after Jefferies downgraded the stock from buy to hold. The firm is positive about Masimo’s shares overall, but indicated that their current valuation already includes a lot of good news. Sensata Technologies — Shares of the industrial technology company surged 2.5% following an upgrade to outperform at Oppenheimer. The firm stated, “Our upgrade focuses on significant ramp in new business wins over the past several years, capital allocation pivot to debt reduction, and solid positioning for margin performance.” Block — The financial technology stock rose by 2.9% following an upgrade from BTIG from neutral to buy. The investment firm pointed to potential margin expansion, growth opportunities, and synergy between segments as catalysts for the increase. United Parcel Service — Shares dropped by 7% after the package delivery company reported a fourth-quarter revenue miss and disappointing guidance. Revenue came in at $24.92 billion versus the $25.43 billion expected from analysts polled by LSEG. UPS guided for full-year revenue between $92 billion and $94.5 billion, below the consensus estimate of $95.57 billion. General Motors — Shares of the iconic automaker surged by 8% after GM exceeded fourth-quarter estimates on the top and bottom lines. GM reported $1.24 in adjusted earnings per share on $42.98 billion of revenue, surpassing the $1.16 per share and $38.67 billion of revenue expected by analysts surveyed by LSEG. GM also projected an increase in earnings per share in 2024. JetBlue Airways — The airline stock declined by 1.3% after reporting a fourth-quarter loss of 19 cents per share on $2.33 billion of revenue, which exceeded the loss of 28 cents per share on $2.29 billion of revenue forecasted by analysts polled by LSEG. The company updated its capital expenditure forecast from 2024 to 2027 to come below its previous guidance. Whirlpool — Shares of the home appliances maker fell by 4% in premarket trading after the company issued weak 2024 guidance in its latest financial update. It projected revenues of $16.9 billion for the year, compared with estimates of $17.7 billion, according to LSEG. It also said it expects earnings per share of between $13 and $15, while analysts were expecting $15.48. Super Micro Computer — The information technology company surged by nearly 13% after posting higher-than-expected fiscal second-quarter results. Super Micro reported earnings of $5.59 per share on $3.66 billion of revenue, exceeding the $4.93 per share on $3.06 billion of revenue analysts polled by LSEG had expected. F5 — Shares rose by 8% after the cybersecurity company reported an earnings and revenue beat in the fiscal first quarter. F5 posted $3.43 in adjusted earnings per share on $693 million of revenue. Analysts surveyed by LSEG had forecasted $3.04 earnings per share on $685 million of revenue. While revenue fell on a yearly basis, net income increased. Sanmina — Shares soared by more than 16% after Sanmina posted first-quarter earnings that exceeded expectations, as well as better-than-expected second-quarter guidance. The manufacturing services provider reported earnings of $1.30 per share, better than the $1.15 earnings per share forecast from analysts polled by FactSet. Revenue of $1.87 billion came in line with expectations. — CNBC’s Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min and Jesse Pound contributed reporting.
