Premarket Movers Friday - Levi, Boeing, Honeywell, Alibaba

Stocks moving in premarket trading Friday include Honeywell, Alibaba, Boeing and Okta.
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Stock futures wobbled Friday as data from China renewed concern about inflation despite assurances from Federal Reserve Chairman Jerome Powell that the central bank had the tools to curb higher prices.

Nasdaq Futures Lead Gains, S&P Tests New Records on Dovish Fed Minutes

Here are some of the top movers during premarket trading on Friday.

1. Alibaba BABA | Down 1.2%

American depositary receipts of Alibaba  (BABA) - Get Report were lower after analysts at Benchmark cut their price target for the Chinese tech giant to $310 a share.

Separately, Alibaba will reportedly cut 4% of staff at its Hong Kong newspaper The South China Morning Post as part of a larger restructuring at the company, according to a staff memo seen by Bloomberg. 

2. Honeywell HON | Up 2%

Honeywell  (HON) - Get Report shares advanced after JPMorgan  (JPM) - Get Report analyst Stephen Tusa Jr. raised his price target on the stock to a Wall Street high $250 a share from $200. He upgraded the stock to buy from hold, saying it had underperformed this year.

3. Boeing BA | Down 1.2%

Shares of Boeing  (BA) - Get Report fell after the aerospace giant asked some customers to temporarily stop flying 737 MAX jets to correct a potential electrical issue.

4. Okta OKTA | Up 2.4%

Shares of Okta  (OKTA) - Get Report rose after the maker of identity-management software reiterated its guidance for the year and introduced two new products that could expand its addressable market.

5. Levi Strauss LEVI | Up 4.7%

Shares of Levi Strauss  (LEVI) - Get Report rose in premarket trading Friday after the maker of jeans and other clothing raised its dividend and its guidance.

After the closing bell Thursday Levi Strauss reported better-than-expected earnings and revenue for the fiscal first quarter and raised its revenue forecast for the first half of fiscal 2021 by nearly 25%.

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