Check out the companies making headlines before the bell.
Rivian Automotive — Shares surged 3.3% in premarket trading as Evercore ISI upgraded Rivian Automotive to outperform with a higher price target. The upgrade suggests that Rivian Automotive has the potential to become the next Tesla and BYD in the electric truck market.
The Sphere is seen during the opening night with the U2:UV Achtung Baby Live concert at the Venetian Resort in Las Vegas on Sept. 29, 2023.
Tayfun Coskun | Anadolu Agency | Getty Images
Sphere Entertainment — The stock soared more than 7% following the opening of Sphere venue in Las Vegas. The entertainment and media company hosted a show by U2 on Friday night. The Sphere will serve as a host for live concerts and sporting events.
Tesla — Tesla experienced a 3% drop in share value after reporting a decline in production for Q3. The company clarified that the decline was expected due to a planned shutdown for upgrades. However, the production total fell short of Wall Street estimates, which impacted investor sentiment. Tesla maintains its full-year production goal of approximately 1.8 million vehicles.
Insulet — Shares of Insulet rose 3.4% in premarket trading as Jefferies upgraded the medical device maker to a buy rating. The upgrade suggests that investors should take advantage of recent underperformance to increase their exposure to the stock.
Sunnova Energy International — UBS initiated coverage of Sunnova Energy International with a buy rating, leading to a 1.5% increase in premarket trading for the solar company. UBS believes that Sunnova is well-positioned to capitalize on the growing demand for third-party-owned residential solar systems. The firm’s price target implies a potential 53% upside from the previous day’s close.
Clorox — Clorox shares climbed 3.3% in premarket trading as D.A. Davidson upgraded the consumer products company to a buy rating. The investment firm suggests that Clorox’s stock could rally as the company provides investors with more clarity on the implications of an August cyberattack.
AMC Entertainment — AMC Entertainment shares gained 2% before the bell as the company announced the U.S. distribution of “Renaissance: A Film by Beyoncé” in December.
SolarEdge Technologies — Following a downgrade by Barclays, SolarEdge Technologies’ stock declined by 2.7%. Barclays believes that price cuts are inevitable for the company in the coming year.
Nvidia — Shares of Nvidia rose over 1% as Goldman Sachs added the chipmaker to its Americas conviction list for the month. The Wall Street firm maintains a buy rating on the stock and expects the market leader to maintain its position.
FedEx — FedEx shares increased by 0.5% in premarket trading as Susquehanna upgraded the transportation company to a positive rating. The firm believes that the long-term opportunity outweighs the near-term risks for FedEx.
Chubb — Following a downgrade by JPMorgan, Chubb’s shares fell 1.5%. JPMorgan believes that the commercial lines market and the stock
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
