The Levi Strauss & Co. label is seen on jeans in a store at the Woodbury Common Premium Outlets in Central Valley, New York, on Feb. 15, 2022.
Andrew Kelly | Reuters
Explore the latest premarket movers.
Sirius XM — The media company’s shares experienced a 2% decline in premarket trading. Liberty Media recently proposed merging the Sirius XM tracking stock with the radio company. A special committee made up of Sirius XM board members is currently reviewing the proposal.
Levi Strauss — The apparel maker’s stock rose 1.3% in premarket trading after receiving an outperform rating from TD Cowen. TD Cowen commented that Levi’s is currently in the early stages of a positive denim cycle.
Costco — Despite exceeding expectations for its fiscal fourth-quarter results, shares of the wholesale club retailer dropped over 1%. Costco reported earnings per share of $4.86 on $78.9 billion in revenue, while analysts were anticipating $4.79 per share on $77.9 billion in revenue. However, comparable sales in the U.S. only increased by 0.2%.
ChargePoint — UBS initiated coverage of the electric vehicle charging company with a buy rating, causing the stock to surge over 4%. The rating was based on the belief that recent stock performance presents a favorable risk/reward opportunity.
XPO — Following an upgrade to outperform from Evercore ISI, the trucking company’s stock climbed about 2%. Analyst Jonathan Chappell predicted increased margin expansion and pricing power for the company.
Lucid, Rivian — Shares of both EV makers rose 2.1% and 2%, respectively. This increase came as the United Auto Workers strike continued and received support from President Joe Biden, who joined a picket line in Michigan.
Mattel — Morgan Stanley initiated coverage of the toymaker and assigned it an overweight rating, causing a 2.4% increase in premarket trading. The firm named Mattel as a top pick, highlighting its strong risk-adjusted returns despite a challenging macroeconomic environment.
— Contributions to this article by CNBC’s Alex Harring, Jesse Pound, Samantha Subin, and Pia Singh.
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