Pre-Market Movers: Goldman Sachs, Pfizer, Cheesecake Factory, Alibaba and More

Goldman Sachs reported earnings-per-share and revenue that missed Wall Street estimates Tuesday, causing the bank's stock to slide more than 2%.

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Pfizer's shares may not rebound until the company resets its strategy in the wake of the pandemic, according to a downgrade by Wells Fargo on Monday. The bank lowered its rating on the pharmaceutical giant to equal weight from overweight, sending Pfizer shares 1.25% lower in premarket trading.
Morgan Stanley's earnings beat Wall Street's expectations on Tuesday, thanks in part to record revenue from its wealth management business. Shares of the bank were up 1% in premarket trading.

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Vodafone's stock rose nearly 2% in the premarket on Monday after Ghana approved the sale of 70% of its stake in Vodafone Ghana to Telecel Group. On Thursday, Vodafone was upgraded to "buy" by Bank of America, which said it was optimistic about the company's prospects amid CEO Nick Read's departure.
Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing a more favorable competitive backdrop and attractive valuation. The company gained 2% in the premarket.

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Morgan Stanley upgraded Church & Dwight to overweight from equal weight and boosted its price target to $91 from $82. Church & Dwight gained more than 1% in the premarket.

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The Cheesecake Factory's shares slid by more than 3% after the restaurant chain was downgraded by Citi to "neutral" from "buy." Citi said that the Cheesecake Factory's shares are now near its price target. The Cheesecake Factory was also downgraded to "hold" by Gordon Haskett.
Gordon Haskett has downgraded Bloomin' Brands to a "hold" rating, citing the company's increasing balanced risk/reward profile. Bloomin' Brands is the parent company of Outback Steakhouse.

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Roku shares dipped 1.8% after Truist downgraded the company to a hold from a buy rating. The analyst said that the streaming stock is hypersensitive to a tough macro environment given that a large chunk of revenues are tied to advertising.
JMP Securities has downgraded Snap to market perform from market outperform, citing declining time spent on Snap and increased competition from Reels and YouTube shorts. Snap slid 1.4% in the premarket.

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According to the Wall Street Journal, activist investor Ryan Cohen has built a stake in the Chinese e-commerce giant Alibaba. Cohen is reportedly pushing the company to increase its stock buyback program. Shares of Alibaba were up 0.5% in premarket trading.
Reynolds Consumer Products' shares fell by around 1.3% after Credit Suisse downgraded the company from "outperform" to "neutral." The reason given was that the stock price already reflects the expected share gains.

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Whirlpool's shares dropped 3% after the company announced that it will divest a majority of its EMEA business and form a new business focused on Europe with Turkish household appliances maker Arcelik. Whirlpool will own 25% of the new entity, while Arcelik will own 75%.