Biggest stock movers today: U, BA, and more
Stock futures were down in early Monday trading following the Labor Day holiday, as investors awaited key U.S. economic reports set for release this week.
Here are some of Tuesday’s biggest stock movers:
Biggest stock gainers
- Unity Software’s (NYSE:U) shares rose 4% after Morgan Stanley upgraded the stock to Overweight from Equal-weight. Analyst Matthew Cost expressed heightened confidence in the strategic and competitive position of Unity’s Create game engine business. He noted that the engine’s 70% market share in mobile demonstrated its strong competitive advantage, as competitors have struggled to gain ground. While the Grow ad business has faced increased competition, Cost believes that the consensus growth expectations of 6% for 2024-2026 are achievable, even considering potential market share losses. He maintains a price target of $22 for Unity Software shares.
- Shares of space exploration company Intuitive Machines (NASDAQ:LUNR) continued their upward momentum, trading 4% higher on Tuesday morning, likely due to the positive impact of the $116.9M NASA contract awarded last week. The contract involves delivering six science and technology payloads to the moon’s South Pole.
Biggest stock losers
- Boeing (NYSE:BA) shares dropped nearly 3% after Wells Fargo downgraded the stock to Underweight from Equal-weight, citing concerns about cash flow, development costs, and potential stock dilution if an equity raise occurs. Analyst Matthew Akers set a new low price target of $119, implying a 32% decrease from Friday’s close.