U.S. Stock Futures Turn Mixed as Analysts Reassess Major Companies

U.S. stock-index futures were mixed Monday as investors prepared for major bank earnings and key inflation reports, while analyst actions put Adobe, T-Mobile US and Salesforce in focus.

T-Mobile US moved higher in premarket trading after Raymond James upgraded the company. Raymond James said concerns about competition from SpaceX were overstated and that the threat remained years away.

Wells Fargo downgraded Adobe, pointing to weak third-quarter signals, a difficult fourth-quarter growth target and risks to its 2027 outlook without a price increase. The firm also cited leadership transitions and intensifying competition in artificial intelligence.

Bank of America upgraded Salesforce, saying wider artificial-intelligence adoption could increase large companies’ reliance on its platforms. The firm also raised its valuation multiple based on expected free cash flow.

Salesforce is positioning Slack as an interface for CRM information, automated workflows and artificial-intelligence agents. The Slack expansion includes tools for querying records and managing tasks within workplace conversations.