Stock Market

Stocks making the biggest moves in the premarket: Virgin Galactic, Cheesecake Factory, JPMorgan and more

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Virgin Galactic Founder Sir Richard Branson demonstrates a spacewear system, designed for Virgin Galactic astronauts, at an event October 16, 2019 in Yonkers, New York.
Don Emmert | AFP | Getty Images

Take a look at some of the biggest movers in the premarket.

Virgin Galactic — Shares of the space company jumped 9% in premarket trading after CEO Richard Branson completed a long-awaited test flight to space on Sunday. It was the first spaceflight to date for Virgin Galactic carrying more than one passenger. Branson also became the first of the billionaire space company founders to ride his own spacecraft, beating Elon Musk and Jeff Bezos.

Cheesecake Factory — The restaurant stock climbed more than 1% in premarket trading after Raymond James upgraded the shares to outperform from market perform. The Wall Street firm said the market is underestimating the comeback for full-service restaurants. Cheesecake Factory shares have fallen about 8% in the past month.

Nordstrom — Shares of the department store dipped slightly after the company said Sunday it has acquired a minority stake in four apparel brands owned by the online U.K. fashion house Asos. The brands — Topshop, Topman, Miss Selfridge and the activewear label HIIT — target younger consumers in their 20s. Financial terms of the deal weren’t disclosed.

JPMorgan, Bank of America — Major bank stocks traded lower across the board despite expectations for strong earnings reports this week. JPMorgan dipped 0.7%, while Goldman Sachs fell 0.5% and Bank of America shares traded 0.8% lower. The decline came as bond yields continued to drift lower. JPMorgan and Goldman Sachs kick off earnings season with results due out before the bell on Tuesday. Bank of America, Citigroup and Wells Fargo report on Wednesday.

United Airlines, Carnival —Shares tied to the economic reopening were slightly weaker in premarket Monday. United Airline fell more than 1% after losing 2.3% month to date. Boeing and Delta Air Line both traded about 1% lower. Carnival, Norwegian Cruise Line and Royal Caribbean all fell over 1%.

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