Stocks making the biggest moves premarket: Wayfair, Salesforce, Paypal and more

Check out the companies making the biggest premarket moves: Advanced Micro Devices — The semiconductor maker rallied nearly 3% after being upgraded by Barclays to

overweight from equal weight, which said it sees potential upside from direct-current and generative artificial intelligence. The firm also upgraded Qualcomm and Seagate

Technology to overweight from equal weight. Qualcomm and Seagate both gained more than 2%. Wayfair — The online retailer jumped more than 12% after being double upgraded to

overweight from underweight by JPMorgan. The Wall Street firm cited improving market share trends and a better grasp on spending from management. Salesforce — Salesforce

shares gained more than 5% premarket on news that activist investor Elliott Management has reportedly taken a multibillion-dollar stake in the cloud-based software

giant. Shopify — The e-commerce company rose nearly 5% after being upgraded to buy from hold by Deutsche Bank, which said brands are growing increasingly interested in

Shopify. Abbott Laboratories — Abbott Labs lost 2.5% following a Wall Street Journal report Friday that the Justice Department is investigating conduct at its infant-formula

plant in Sturgis, Michigan. CrowdStrike — The cybersecurity company shed nearly 2% after being downgraded to hold by Deutsche Bank, which cited intensifying

competition. PayPal — Shares of the payment company dipped more than 1% in premarket trading after the Wall Street Journal reported that large banks are teaming up to create

their own digital wallet. The wallet would be a competitor to PayPal and Apple Pay.