Hewlett Packard Enterprise (HPE)

The technology company’s stock slipped 3.5% in premarket
action after Morgan Stanley downgraded the stock to “underweight” from “equal
weight” under the overall downgrade of the telecom and networking equipment
industry. Morgan Stanley expects to reduce orders in the second half of 2022.

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Chegg (CHGG)

Chegg fell 3.7% in the premarket trading after KeyBanc
Capital Markets downgraded the stock to “sector weight” from “overweight”. KeyBanc expects a downtick in US growth trends for the educational products and
services provider.

Crowdstrike (CRWD)

The cyber security company jumped 3.6% in premarket
trading after Goldman Sachs upgraded the stock to “buy” from “neutral”.
According to Goldman, the cloud computing company has shown strong execution
while demand is growing.

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Cisco Systems (CSCO)

The shares plunged 2.6% in premarket trading after Citi
downgraded Cisco to “sell” from “neutral,” saying that networking equipment
competitors Juniper Networks (JNPR) and Arista Networks (ANET) are assured to
gain market share from Cisco.

PG&E (PCG)

The Pacific Gas and Electric Company’s shares surged 2.3%
in premarket trading after it reached legal settlements over two fires in
Northern California. The California utility will pay $55 million and will not
face any criminal persecution over those fires.

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CarMax (KMX)

The auto retailing firm’s shares plunged 2.2% in
premarket after a bottom-line miss for its recent quarter. Carmax earned 98
cents per share, which is below the share consensus estimate of $1.25, while
the revenue was better than market estimates. The reason for earnings miss
could be slow sales volumes and rising average selling prices.

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Deutsche Bank (DB)

Deutsche Bank lost 1.3% in the premarket after an
undisclosed shareholder sold 5% stakes in both Deutsche Bank and Germany-based
rival Commerzbank for around $1.9 billion.