Check out the companies making headlines before the bell: American Eagle Outfitters — Shares popped 4% following an upgrade by JPMorgan to overweight from neutral. The firm cited the retailer’s merchandising initiatives and operational changes for the call. Freeport-McMoRan — Shares jumped 1.9% after Bank of America upgraded the American mining company to buy from neutral, saying it has “blue chip copper exposure.” Molson Coors — Shares gained 1.9% after Goldman Sachs upgraded the brewing company to buy, saying the company can benefit as it expands its shelf space in retailers. Ally Financial — The financial services company added nearly 2% after being upgraded to buy from neutral at Bank of America. The bank’s analysts believe Ally Financial may see higher earnings than anticipated, less earnings volatility and that its potential credit leverage may be underestimated. Alphabet — Shares gained slightly ahead of the Google Cloud Next event on Tuesday. The tech giant has been on a tear recently, surging more than 14% in the past month. Pfizer — Shares rose slightly after the pharmaceutical giant said Tuesday that its respiratory syncytial virus vaccine showed potential to protect adults under 60 years old from of getting severely sick. — CNBC’s Michelle Fox contributed reporting
Source: www.cnbc.com