Before you call, check out the companies that are making headlines. American Airlines shares rose more than 4% after TD Cowen upgraded the airline to “buy” from “hold” and raised its price target to a Wall Street high. The new target suggests an upside of about 47% from Friday’s close. FuboTV – The streaming provider’s value soared more than 165% after the company confirmed it had struck a deal to combine its online TV business with Walt Disney. The new venture, which will include Disney’s Hulu + Live TV business, will be 30% owned by Fubo and 70% owned by Disney and will be the second-largest digital pay TV provider behind YouTube TV. Boeing – Airplane shares rose about 2% before the open after being upgraded to overweight by Barclays. Analyst David Strauss said a tough 2024 for Boeing shares could give way to a recovery in the new year thanks to strong deliveries and production. Citigroup – Shares rose 2% as Barclays upgraded to overweight from equal weight. The firm noted an improving outlook for large-cap banks and believes Citi may be at a turning point after reporting year-on-year revenue growth and positive operating leverage for its business. Shares of chip manufacturers. Shares of chip companies rose Monday following record fourth-quarter earnings from contract electronics giant Foxconn. Shares of Taiwan Semiconductor and Micron Technology each rose more than 5%, while shares of Nvidia and Advanced Micro Devices rose nearly 3%. Shares of Broadcom, another US chipmaker, rose more than 1%. Xpeng, the Chinese electric vehicle maker’s US-listed shares, rose more than 4% after the firm announced it plans to expand its partnership with Volkswagen in China, with both companies opening up their ultra-fast charging networks in the country to outside customers . Volkswagen’s European shares rose more than 5% following the announcement. MicroStrategy – Shares jumped about 4% following the Bitcoin proxy’s announcement that it plans to raise up to $2 billion in preferred stock capital. MicroStrategy said the goal was to further strengthen its balance sheet and acquire more bitcoin. Microsoft – Shares rose about 1% after Bernstein raised his price target by $5 to $516. Bernstein said concerns about converting capital expenditures into earnings, which have been putting investors off, should soon subside. Shares of hydrogen fuel cell systems developer Plug Power rose about 6% in pre-market trading Monday, adding to Friday’s 13% rally. The moves come after the U.S. Treasury Department published final rules to provide multibillion-dollar tax incentives for companies producing hydrogen to boost the clean energy industry. Chewy – E-commerce shares rose more than 4% after Mizuho upgraded from neutral. The investment firm said Chewy’s recent increase in advertising is “opportunistic” and is not a sign that pet-related spending is falling. Shares of automakers rose after the Washington Post, citing three people familiar with the matter, reported that aides to President-elect Donald Trump are discussing imposing tariffs only on certain industries considered critical to national or economic security, rather than all import. Lucid Group and Ford Motor shares jumped 3% and 2%, respectively, while Tesla shares rose more than 2%. — CNBC’s Lisa Kailai Han, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans and Michelle Fox contributed reporting.
