![Palo Alto Networks, Apple, Target & more](https://image.cnbcfm.com/api/v1/image/107249473-1685637213225-Traders-Photo-MW-20230601-0206-PRESS-19.jpg?v=1685964982&w=1920&h=1080)
Traders on the floor of the NYSE, June 1, 2023.
Source: NYSE
Check out the companies making headlines in premarket trading.
Apple — The tech giant’s shares rose about 1% ahead of Apple’s Worldwide Developers Conference, which kicks off Monday at in Cupertino, California. Apple is widely expected to announce a “Reality Pro” headset that incorporates virtual reality.
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![Oppenheimer downgrades this cosmetics stock, says gains will be harder to come by](https://image.cnbcfm.com/api/v1/image/107161617-1670329281366-gettyimages-1229828674-BC_HKStock_EsteeLauder_4963.jpeg?v=1685962084)
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.
Target — KeyBanc downgraded the retailer to sector weight from overweight, warning that the resumption of student loan repayments could squeeze Target’s margins. Shares of Target were down less than 1% in premarket trading.
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.
Estee Lauder — The luxury cosmetic maker dipped about 1% after Oppenheimer downgraded the stock to perform from outperform and removed its $250 price target. The firm said Estee Lauder will struggle to meet these “aggressive” Street expectations.
— CNBC’s Alex Harring and Jesse Pound contributed reporting.
Source: https://www.cnbc.com/2023/06/05/stocks-making-the-biggest-moves-premarket-palo-alto-networks-apple-target-more.html