Try the businesses making headlines earlier than the bell:

Adobe — The inventory gained 2.4% earlier than the bell after Morgan Stanley upgraded shares to chubby from equal weight and boosted its worth goal, citing synthetic intelligence tailwinds.

Chevron — Shares rose 1.6% after Goldman Sachs upgraded Chevron to purchase from impartial and hiked its worth goal. Analysts stated the oil large is due for a breakout.

Ford Motor — Shares declined 1.1% after Jefferies downgraded the inventory to carry, citing weak point in Mannequin E steering.

Walt Disney — The inventory rose 0.7% after Disney reportedly introduced again two former executives who have been beforehand thought-about potential successors to Bob Iger, based on a Monetary Occasions report citing individuals acquainted. The 2 are Kevin Mayer and Tom Staggs.

XPeng — The U.S.-listed shares of Chinese language electrical automobile maker XPeng fell 2% in premarket buying and selling. UBS on Monday downgraded the corporate to impartial from purchase after the inventory’s extraordinary run-up, saying it expects near-term upside has been priced in. The inventory is up 135% this 12 months.

Hasbro — The toymaker added 2.9% earlier than the bell after Financial institution of America upgraded the inventory to purchase from impartial. Financial institution of America stated the corporate ought to beat expectations for earnings when it reviews on Thursday given the sturdy demand for the Lord of the Rings Magic set.

United Parcel Service — Shares fell 1% after Credit score Suisse downgraded UPS to impartial from outperform, citing labor issues.

GoodRX — The digital healthcare platform noticed shares rise greater than 8% premarket after Cowen upgraded the inventory to outperform, saying its pharmacy profit administration partnerships – like Categorical Scripts and CVS’ Caremark – assist not simply generate a brand new income stream but in addition solidify the corporate’s place within the healthcare ecosystem. Cowen additionally raised its worth goal to replicate about 78% potential upside.

SBA Communications — Shares fell 1.6% in premarket buying and selling. The true property funding belief concerned in wi-fi communications infrastructure is about to report its second-quarter outcomes after the shut Monday.

ON Semiconductor — The chipmaker’s shares gained 1.9% forward of second-quarter earnings. ON Semiconductor is projected to report earnings of $1.21 per share on income of $2.02 billion, based on analysts polled by FactSet. It is set to report outcomes Monday morning.

— CNBC’s Alex Harring, Hakyung Kim, Tanaya Macheel and Samantha Subin contributed reporting