- Stocks in focus in premarket trade on Monday:
• Boeing (NYSE:BA) stock slumped 4.3% in response to news that it will cut output of its 737 Max aircraft in the wake of two fatal crashes.
• Southwest Airlines (NYSE:LUV) stock fell 1.4% after Raymond James analysts warned that the grounding of its 34 737 Max aircraft could stretch into the peak summer season.
• General Electric (NYSE:GE) stock fell 6.2% after JP Morgan Chase analyst Stephen Tuma cut his target price for the company.
• Snap (NYSE:SNAP) stock jumped another 5.1% on continued buying interest in the wake of its mobile gaming initiative, announced last week.
• Procter & Gamble (NYSE:PG) stock was up 0.9%, after Wells Fargo analysts raised it to outperform from neutral and upped their target price to $115 from $91.
• Pinterest's (NYSE:PINS) bankers said they aimed to sell the company’s stock at between $15-$17 at its upcoming IPO. That implies a drop of over 20% in valuation since its last private funding round.
