Stocks on the move before the bell
These are the stocks making the biggest moves before the bell:
Read the full list here.
— Samantha Subin
Getty Images, Shutterstock soar after merger announcement
Getty Images and Shutterstock announced a merger on Tuesday that brings together two digital image databases. Shares of both companies soared in premarket trading.
The combined company will keep the Getty name and be lead by Getty Images CEO Craig Peters. Shutterstock shareholders can choose to receive $28.85 per share as part of the deal. Other options include receiving Getty stock or a mix of cash and stock.
Shutterstock rose nearly 30%, while Getty Images rose more than 50%, though the stock is still below $5 per share.
Shares of Shutterstock soared in premarket trading.
The combined company will have an enterprise value of $3.7 billion, according to the announcement.
— Jesse Pound
UBS upgrades Bank of America, calls it an ‘overlooked’ 2025 winner
Bank of America is an “overlooked” winner for 2025, according to UBS.
UBS analyst Erika Najarian upgraded shares of Bank of America to a buy rating from neutral. To accompany the move, she also lifted her 12-month price target to $53 from $43.
Shares of Bank of America have added 3% in 2025 and ended last year nearly 31% higher. Najarian’s updated price target implies that the stock could rise another 17% from its Monday close.
BAC 1Y chart
“In the post-election landscape of de-regulation and higher for longer, BAC has been largely left out of the conversation. We think the Street has not yet recalibrated EPS power from higher rates for longer,” the analyst wrote, calling its wide discount to peers JPMorgan Chase and Wells Fargo “unjustified.”
Notably, Najarian believes that the bank’s underlying assumptions to unlock net interest income outperformance are achievable. She also believes that Bank of America is an underrated beneficiary of deregulation.
Similarly, HSBC also upgraded Bank of America stock to a buy rating.
“The recent pullback provides an opportunity to add exposure to a market leader with an attractive earnings and profitability outlook at an attractive valuation,” wrote HSBC analyst Saul Martinez.
— Lisa Kailai Han
Japan stocks lead gains in Asia-Pacific markets after tech rally lifts Wall Street
Japan’s Nikkei 225 led gains among Asian markets on Tuesday, gaining 1.97% and powered by a tech rally among semiconductor-related stocks.
Most other Asian markets also rose during the session, with the exception of Hong Kong.
The Hang Seng Index was 1.34% down in its final hour of trade, dragged by tech and health-care stocks.
Hong Kong-listed tech stocks are in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings to a list of firms it calls “Chinese military companies.” Tencent’s Hong Kong-listed shares are currently down over 7%.
— Lim Hui Jie
Tesla’s influence on the stock market is growing, S3 Partners says
The recent increase in the notional value of short interest in Tesla stock, together with heightened volatility in the electrical vehicle maker’s shares, “underscores its growing market influence, surpassing both Nvidia and Apple in recent months,” according to S3 Partners, a researcher that specializes in tracking Wall Street short interest.
In a typical day, Tesla shares now move up or down in a range of 4.5% compared with its prior volatility of 3% to 4%, according to S3. Nvidia might typically move 3% to 4% each day although, unlike Tesla, its recent volatility has fallen, while Apple only moves 1% or so on an average day.
All three stocks are locked in a three-way race for the highest dollar value of shares sold short, S3 said. “NVDA has had the largest short interest notional position, but AAPL surpassed NVDA for two weeks in December. TSLA has been in third place since mid-year but has now surpassed AAPL,” according to the researcher.
Tesla shares since the presidential election.
Stocks moving the most in extended trading hours: Inari Medical, Ulta
These are the stocks moving the most in Monday’s after-hours trading:
- Inari Medical — Shares of medical device maker Inari Medical surged 22% after Reuters reported that the company was in advanced talks to be acquired by Stryker, citing people familiar with the matter. Sources said that a deal could be announced as early as this week.
- Ulta — The beauty retailer added nearly 2% after increasing its fourth-quarter outlook, citing a stronger-than-expected holiday season. The company also announced that CEO Dave Kimbell will retire after 11 years in the role, to be succeeded by current President and COO Kecia Steelman.
— Lisa Kailai Han
Stock futures open higher
Stock futures traded higher on Monday night.
Dow futures added 48 points, or 0.1%, shortly after 6 p.m. ET. S&P 500 futures and Nasdaq 100 futures respectively gained 0.1% and 0.2%.
— Lisa Kailai Han
