Stocks making the biggest moves premarket: American Eagle Outfitters, Ally Financial, Molson Coors Beverage and more

Check out the companies making headlines before the bell: American Eagle Outfitters — Shares popped 4% following an upgrade by JPMorgan to overweight from neutral. The firm cited the retailer's merchandising initiatives and operational changes for the call. Freeport-McMoRan — Shares jumped 1.9% after Bank of America upgraded the American mining company to buy from neutral, saying it has "blue chip copper exposure." Molson Coors — Shares gained 1.

Ally Financial — The financial services company added nearly 2% after being upgraded to buy from neutral at Bank of America. The bank's analysts believe Ally Financial may see higher earnings than anticipated, less earnings volatility and that its potential credit leverage may be underestimated. Alphabet — Shares gained slightly ahead of the Google Cloud Next event on Tuesday. The tech giant has been on a tear recently, surging more than 14% in the past month.

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