Take a look at some of the biggest movers in the premarket:
Caterpillar (CAT) – The heavy equipment maker’s stock was downgraded to “underperform” from “neutral” at Bank of America Securities, which points to a severe capital spending downturn in key Caterpillar markets.
Dunkin’ Brands (DNKN) – Credit Suisse gave the restaurant chain’s stock a double-upgrade to “outperform” from “underperform,” noting both valuation and the company’s 100% franchised business model. The firm said that model is one of the most attractive in the restaurant industry and warrants a premium to its peers.
Palo Alto Networks (PANW) – The cybersecurity firm was upgraded to “buy” from “hold” at Rosenblatt Securities, which said Palo Alto is benefitting from the current work-at-home trend.
Amazon.com (AMZN) – Amazon stopped accepting new online grocery customers amid surging demand, and is now putting new applicants on a waiting list. It has also cut back shopping hours at some Whole Foods locations to prioritize online orders from existing customers.
Walt Disney (DIS) – Disney is furloughing 43,000 workers at its Walt Disney World resort in Florida, while allowing them to keep their benefits for up to a year. Walt Disney World closed in mid-March due to the