Atlantic Equities raised Merck & Co., Inc. (NYSE: MRK) price target from $110 to $116. Atlantic Equities analyst Steve Chesney maintained an Overweight rating on the stock. Merck shares fell 0.8% to $89.76 in pre-market trading.
The CNN Money Fear and Greed index showed further increase in the fear level among investors after the Nasdaq Composite index tumbled to the weakest level in two years on Monday amid a decline in semiconductor stocks.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade on Tuesday after the Nasdaq index recorded its lowest finish since July 2020 in the previous session. The Philadelphia SE Semiconductor index fell around 3.5% on Monday after the US placed restrictions on exports of certain high-end chips to China.
U.S. stocks closed lower on Monday with the Nasdaq Composite dropping over 100 points amid a decline in NVIDIA Corporation (NASDAQ: NVDA) and Advanced Micro Devices, Inc. (NASDAQ: AMD) shares.