Stocks Making the Biggest Premarket Moves: Hasbro, Adobe, Goodrx, Sba Communications and More

Check out the companies making headlines before the bell:

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Adobe's stock gained 2.4% after Morgan Stanley upgraded it to overweight from equal weight and raised its price target, citing the positive impact of artificial intelligence.

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Chevron saw a 1.6% increase in shares after Goldman Sachs upgraded it to buy from neutral and raised its price target, predicting a potential breakout for the oil giant.

Ford Motor's shares declined by 1.1% following Jefferies' downgrade to hold, citing concerns about Model E guidance.

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Walt Disney's stock rose by 0.7% after reportedly rehiring two former executives, Kevin Mayer and Tom Staggs, who were once considered potential successors to Bob Iger.

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U.S.-listed shares of Chinese electric vehicle maker XPeng fell by 2% in premarket trading after UBS downgraded the company to neutral from buy, stating that near-term upside has likely been priced in.

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Hasbro, the toymaker, saw a 2.9% increase before the bell after Bank of America upgraded it to buy from neutral, expecting strong earnings results driven by demand for the Lord of the Rings Magic set.

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United Parcel Service (UPS) shares fell by 1% after Credit Suisse downgraded the company to neutral from outperform, citing labor concerns.

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GoodRX, the digital healthcare platform, witnessed an 8% rise in shares before the market opened after Cowen upgraded it to outperform, highlighting the positive impact of pharmacy benefit management partnerships.

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SBA Communications, a real estate investment trust in wireless communications infrastructure, experienced a 1.6% decline in premarket trading ahead of its second-quarter results announcement.

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ON Semiconductor, the chipmaker, saw its shares gain 1.9% before reporting its second-quarter earnings. Analysts project earnings of $1.21 per share on revenue of $2.02 billion for the company.

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