Check out the companies making headlines before the bell. American Airlines – Shares rose more than 4% after TD Cowen upgraded the company from a hold rating to a buy and raised its price target to Wall Street’s highest. The new target represents an increase of about 47% from Friday’s closing price. FuboTV – The streaming provider rose more than 165% after the company confirmed it had struck a deal to combine its online live TV operations with Walt Disney. The new venture will include Disney’s Hulu + Live TV business, 30% owned by Fubo and 70% owned by Disney, forming the second-largest digital pay-TV provider behind YouTube TV. Boeing – Aircraft inventories rose about 2% before the opening bell after Barclays was upgraded to overweight. Analyst David Strauss said a tough 2024 for Boeing stock could turn around in the new year with strong deliveries and production. Citigroup – Shares rose 2% after Barclays upgraded the stock to overweight from equal weight. The firm cited an improving outlook for large banks and believes Citi may have reached a tipping point after posting annual revenue growth and positive operating leverage for its business. Semiconductor stocks – Chip stocks rose on Monday following record fourth-quarter earnings from contract electronics giant Foxconn. Shares of Taiwan Semiconductor and Micron Technology each rose more than 5%, while Nvidia and Advanced Micro Devices rose nearly 3%. Fellow U.S. chipmaker Broadcom rose more than 1%. Xpeng – Chinese electric car maker’s US-listed shares rise more than 4% after the company expands its partnership with Volkswagen in China, with both companies announcing plans to open up their domestic ultra-fast charging networks to the other’s customers rose. Volkswagen’s European shares rose more than 5% following the announcement. MicroStrategy – Shares rose about 4% after the Bitcoin agency announced it was targeting to raise up to $2 billion in preferred stock. MicroStrategy said its goal is to further strengthen its balance sheet and acquire more Bitcoin. Microsoft – Shares rose about 1% after Bernstein raised its price target by $5 to $516. Mr. Bernstein said concerns about converting capital spending into revenue that have kept investors away should soon subside. Plug Power – Plug Power, a developer of hydrogen fuel cell systems, rose about 6% in premarket trading Monday, adding to Friday’s 13% rise. The moves come after the U.S. Department of the Treasury released a final rule on multibillion-dollar tax credits for companies involved in hydrogen production to grow the clean energy industry. Chewy – The e-commerce stock rose more than 4% following Mizuho’s upgrade from neutral to outperform. The investment firm said Chewy’s recent advertising increases were “opportunistic” and not a sign that pet-related spending is declining. Auto stocks – The Washington Post cited three people familiar with the matter as saying that President-elect Donald Trump’s aides are not targeting imports overall, but only in specific areas deemed important to national or economic security. The automaker’s stock price rose after it reported it was discussing imposing tariffs. Lucid Group and Ford Motor Co.’s shares rose 3% and 2%, respectively, while Tesla’s stock rose more than 2%. —CNBC’s Lisa Kai-Lai Hung, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans and Michelle Fox contributed reporting.
