Check out the companies making headlines in premarket trading.
an hour ago
Palo Alto Networks — The chip stock jumped nearly 5% after S&P Dow Jones Indices announced Friday evening that the cybersecurity company will replace Dish Network in the S&P 500, effective June 20. Dish Network‘s stock fell 4% in premarket.
Valley National Bancorp — The regional bank climbed more than 4% after JPMorgan upgraded the stock to overweight from neutral. The Wall Street firm said the concern around Valley National’s commercial real estate appears “overblown” as Manhattan offices represents less than 1% of its loans.
Dollar General — Shares fell 0.8%. Morgan Stanley downgraded the discount retailer’s stock to equal weight from overweight on Sunday, citing its “thesis-shifting quarter.” When reporting quarterly financials last week, the company said a challenging economic environment prompted on a miss on earnings and a cut to full-year guidance.