The all-electric 4-door Convertible GT Fisker Ronin is revealed during its inaugural “Product Vision Day” in Huntington Beach, California, on August 3, 2023.
Frederic J. Brown | AFP | Getty Images
Discover the companies capturing attention prior to market opening.
Fisker — Shares of the vehicle development firm jumped 4.1% in pre-market trading after Bank of America initiated coverage with a buy rating. BofA emphasizes that Fisker provides investors with “direct exposure to the rapidly expanding EV market” and has a business model with lower risk compared to other EV companies. Fisker also announced plans to significantly increase deliveries of its Ocean vehicle to 300 units per day.
Tesla — Tesla’s stock declined 1% before the market opened as the European Union reportedly launches an investigation into the electric vehicle manufacturer’s exports from China.
Barclays — Barclays’ shares climbed 2% after Morgan Stanley upgraded the British bank to an overweight rating from equal weight. This upgrade is attributed to the growth in the bank’s credit card business and an improved outlook for investment banking.
DraftKings — The sports betting stock surged 3% before the market opened after JPMorgan upgraded DraftKings from neutral to overweight, citing an attractive entry point for investors due to recent underperformance.
Thor Industries — Shares of the recreational vehicle company dipped 3% in pre-market trading after issuing a warning about an expected decline in net sales in the following year. For the last quarter, Thor reported earnings per share of $1.68 on $2.74 billion in revenue. Analysts surveyed by LSEG were anticipating earnings per share of 96 cents on $2.42 billion in revenue. Despite these results, Thor had performed well throughout the year, with a 26% year-to-date increase up until Monday’s close.
United Natural Foods — The company’s shares tumbled 17% before the market opened. United Natural Foods provided a forecast for the coming year, projecting earnings per share and adjusted EBITDA below analysts’ estimates due to profitability challenges. The company also reported fiscal fourth quarter revenue that fell short of the estimated $7.47 billion, according to StreetAccount.
— CNBC’s Jesse Pound and Pia Singh contributed to this report.
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