Check out the companies making headlines before the market opens. Apple — Shares of the iPhone maker fell nearly 2% after Jefferies downgraded the iPhone maker to “underperform” from “hold.” Analyst Edison Lee called the outlook for artificial intelligence “bleak” and predicted that Apple would miss its first-quarter revenue growth forecast of 5% when it reports earnings later this month. Qorvo — Shares of the chipmaker rose 2% after Morgan Stanley upgraded the stock to overweight from equal weight. The bank believes Qorvo could see “a new path to earnings recovery” now that activist investor Starboard Value has taken a stake in the company. 3M — Shares of the industrial giant rose 4% after the industrial giant beat fourth-quarter profit estimates, driven by higher sales of industrial adhesives, tapes and electronics. 3M reported adjusted profit of $1.68 per share, above analysts’ average estimate of $1.66 per LSEG share. DR Horton — Shares of the homebuilder rose 4.5% after reporting better-than-expected fiscal fourth-quarter results. DR Horton reported earnings of $2.61 per share on revenue of $7.61 billion, above analysts’ expectations polled by LSEG for earnings of $2.36 per share on revenue of $7.08 billion. Vistra — Power generation stocks rose 4.6% after firefighters confirmed on Monday that a fire that started burning Thursday had been extinguished. Fires last week resulted in road closures and mandatory evacuations. Moderna — Moderna shares rose 3.9% after receiving $590 million in funding from the U.S. Department of Health and Human Services to accelerate development of its bird flu vaccine. The number of bird flu cases has increased across the United States in recent months. Chinese Electric Vehicle Stocks – Shares of Chinese electric vehicle companies rose after Trump delayed tariffs after failing to impose them immediately during his inauguration. Shares of Xpeng Motors and Li Auto rose 6% and 5.4% respectively. Walgreens Boots Alliance — Shares of the drugstore retailer fell 5.8% on Friday after the U.S. Department of Justice sued Walgreens Boots Alliance. The department accuses Walgreens of fueling the U.S. opioid epidemic through illegal prescriptions of opioids and other highly addictive painkillers. General Motors — shares rose 1.2% after Deutsche Bank upgraded the stock to “buy” from “hold.” The bank said downside potential for GM under a second Trump administration has been priced into the stock, leaving room for “positive surprises.” Deutsche Bank said GM may also announce additional share buybacks once it completes its current authorization. Ulta — Shares of Ulta rose 2.4% after Morgan Stanley upgraded the beauty retailer to overweight and raised its price target to $500, implying a 23% upside. The Wall Street firm said Ulta will continue to grow and gain market share in the beauty industry, which is about to expand. Trump Media & Technology Group — Shares of the parent company of Truth Social fell 6.7% after Donald Trump officially took office as the 47th President of the United States. After giving the stock an outperform rating, the stock price rose 2.3%. The company believes Roku’s position as “the top streaming platform in the United States” is sustainable and that Roku will benefit from a surge in ad spending in the connected TV market. —CNBC’s Michelle Fox, Hakyung Kim, Yun Li, Sarah Min and Jesse Pound contributed reporting.
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