Check out the companies making the biggest moves in premarket trading: Boeing — The aerospace stock added 1.5% following an upgrade to buy from hold by Deutsche Bank. The bank noted Boeing’s acceleration of aircraft deliveries and said it believes this improved performance can be sustained. Microsoft — Shares added 0.5% after Microsoft announced former OpenAI CEO Sam Altman will be joining the tech giant to head a new artificial intelligence research team. PENN Entertainment — The gambling stock popped 4.4% on the back of a Bank of America upgrade to buy from neutral. The firm said shares could be helped by the company’s new sportsbook, which is called ESPN Bet. Bristol-Myers Squibb — Shares dropped 4.6% in premarket trading. The drug company, along with 2seventy bio, announced a delay in gaining expanded approval for Abecma for earlier lines of triple-class exposed relapsed or refractory multiple myeloma. The Food and Drug Administration won’t be able to meet to make a decision by the target date of Dec. 16. Cantor Fitzgerald also said in a note Monday that Bayer’s failed phase 3 study on its blood thinner drug candidate asundexian could have negative implications for Bristol Myers Squibb’s FXIa drug, milvexian. Bristol Myers just initiated the phase 3 program for the drug. Krispy Kreme — Shares of the doughnut chain slipped 1.8% following a downgrade by JPMorgan to neutral from overweight. Analysts.3 said that although Krispy Kreme has enormous underlying appeal, the company has execution issues. Dutch Bros — The stock gained 2% after being upgraded by JPMorgan to overweight from neutral. The bank also boosted its price target on the coffee chain to $35 from $30, suggesting 26% upside from Friday’s close. JPMorgan cited the improvement in Dutch Bros liquidity. Iovance Biotherapeutics — The biopharmaceutical stock popped 9.7% after Goldman Sachs initiated coverage with a buy rating and $12 price target, which suggests the stock can more than…
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