In the latest market movements, several significant stocks experienced notable shifts on Monday. Alibaba shares slipped 3%, reversing part of last week's 15% rally. Rivian also saw a decline, shedding 3% after Bank of America downgraded its rating from neutral to underperform. Meanwhile, Domino's Pizza shares fell more than 3% after the company reported fourth-quarter earnings that failed to meet expectations.
Palantir Technologies continued its downward trajectory, having dropped 14.9% last week, marking its largest weekly drop since January. The company's stock is down 32% this year, reflecting ongoing challenges. In contrast, Berkshire Hathaway's Class B shares rose more than 1% in premarket trading as the firm announced a 71% surge in operating profit to $14.5 billion.
Nike shares received a boost, increasing by 2% following Jefferies' upgrade from hold to buy. Similarly, Freshpet shares jumped 4% after Jefferies upgraded the pet food retailer to buy from hold, with expectations that Freshpet can compound sales by 23% by 2027.
Domino's Pizza reported U.S. same-store sales growth of 0.4%, but it missed analysts' expectations on profits and revenue. The company earned $4.89 per share on revenue of $1.44 billion, falling short of the anticipated $4.90 per share on revenue of $1.48 billion according to FactSet estimates.
In the energy sector, companies such as Vistra, Talen Energy, and GE Vernova experienced slight declines, shedding less than 1% on Monday morning. Meanwhile, Robinhood saw a 2% increase after the U.S. Securities and Exchange Commission dismissed its investigation into the company's cryptocurrency segment.
Morgan Stanley made headlines by upgrading its premarket slide to overweight from equal weight, reflecting shifts in market expectations and confidence.