Take a look at some of the biggest movers in the premarket:
Boeing (BA) – The jet maker was placed on “credit watch – negative” by Fitch, reflecting the impact of the coronavirus on the aviation sector.
Berkshire Hathaway (BRKB) – Berkshire has nominated former American Express (AXP) CEO Ken Chenault to its board of directors, following the news that Microsoft (MSFT) founder Bill Gates was stepping down from the board of Warren Buffett’s firm.
American Airlines (AAL) – American Airlines said it would cut 75% of its international flights through May 6, responding to the collapse in global demand for air travel.
Apple (AAPL) – Apple will close all of its retail stores for the next two weeks, to minimize the spread of the coronavirus. That does not include its 42 branded stores in China, which had reopened on Friday after a virus-related closure.
Walt Disney (DIS) – Walt Disney will make “Frozen 2” available on its streaming platform Disney+ three months ahead of schedule, saying it was hoping to provide families “with some fun and joy during this challenging period.”
Teladoc Health (TDOC) – The telehealth company said it saw a 50% surge in virtual doctor visits over the past week, with as many as 15,000 requested visits per day.
Starbucks (SBUX) – The coffee chain is pulling back on seating availability, to try to prevent crowds from gathering. It will keep mobile order, pay, and drive-through options open for now.
Clorox (CLX) – The consumer products maker was upgraded to “overweight” from “underweight” at JPMorgan Chase, as demand for disinfectant products surge.
Caterpillar (CAT) – Caterpillar was upgraded to “buy” from “hold” at Stifel, which said the heavy equipment maker’s stock is at an attractive entry point following the recent pullback. Stifel said 2020 will be a difficult year for Caterpillar, but that the company has structurally improved its earnings and cash flow profiles.
Altria Group (MO) – Altria was upgraded to “overweight” from “equal-weight” at Morgan Stanley, saying lower oil prices, slower e-cigarette sales, and lower oil prices are supporting improved cigarette problems. The firm also notes the tobacco producer’s current 8.4% dividend yield.