Premarket movers Mag 7 stocks are mixed: ( Microsoft +0.7%, Apple +0.4%, Tesla +0.5%, Amazon +0.6%, Meta +0.3%, Alphabet -0.6%, Nvidia -0.5%) Cloud and other AI infrastructure stocks (CRWV -1.1%, IREN -2.2%, AMD -1.4%, INTC -1.3%) are extending losses as Meta’s plan to develop a business that would sell access to AI computing power raised worries about overcapacity. Adobe Inc. shares (ADBE) are up 2.8% after HSBC upgraded the software company to buy from hold. Chevron Corp. shares (CVX) rise 0.6% after Wolfe Research raised its recommendation on the energy company to outperform from peerperform as it sees free cash flow driving growth. Honeywell Aerospace Inc. shares (HONA) are up 0.3% after BMO Capital Markets started coverage on the company with an outperform rating and $276 price target. Infleqtion Inc. (INFQ) rises 3.7% after Canaccord Genuity initiated coverage with a recommendation of buy. Palantir Technologies Inc. shares (PLTR) rise 3.7% after DA Davidson & Co raised its recommendation to buy from neutral as it sees the technology company having a competitive advantage to artificial intelligence companies that have been at odds with the US government. Waystar Holding Corp. shares (WAY) are up 1.9% after KeyBanc Capital Markets started coverage on the healthcare software company with an overweight rating and $30 price target.(zerohedge)