Stocks News

Rivian, SolarEdge, AMC, etc.

Check out the companies making headlines before the bell rings.

rivian cars — The stock soared 3.3% in the premarket. Evercore ISI upgrades Rivian Automotive to better-than-inline performance and raises price target. “Electric truck makers could become the next Tesla and BYD.”

The Sphere is seen during the opening night of the U2:UV Achtung Baby Live concert at the Venetian Resort in Las Vegas on September 29, 2023.

Typhoon Coscoon | Anadolu Agency | getty images

spear entertainment — Shares of the entertainment and media company surged more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show by U2 on Friday night. The Sphere hosts live concerts and sporting events.

tesla — Elon Musk’s electric car maker fell nearly 3% after reporting a decline in third-quarter production. The company said the decline was the result of planned outages for upgrades, but total production fell short of Wall Street estimates. Tesla maintained its annual goal of approximately 1.8 million vehicles.

insulate — Shares rose 3.4% in premarket trading. Jefferies upgraded the medical device maker from hold to buy, saying investors should take advantage of recent underperformance to add exposure.

Sunnova Energy International — UBS initiated coverage of the solar company with a Buy rating, sending shares up 1.5% in pre-market trading. The Wall Street firm believes Sunnova is well-positioned to take market share due to the growing demand for third-party owned residential solar systems. The $16 price target implies an upside of nearly 53% from Friday’s close.

clorox — The consumer products company rose 3.3% in premarket trading after DA Davidson upgraded Clorox to Buy from Neutral. The investment firm said Clorox’s stock price could rebound as the company provides investors with more clarity about the consequences of the August cyberattack.

AMC Entertainment — Shares of the entertainment company rose 2% before the bell after the company announced that “Renaissance: Beyoncé’s Movie” will be distributed in the U.S. in December.

SolarEdge Technology — Solar stocks fell 2.7% after Barclays downgraded SolarEdge Technologies from overweight to equal weight, saying a price cut for the company next year was “inevitable.”

nvidia — Shares rose more than 1% after Goldman Sachs added the chipmaker to its list of Americas convictions this month, saying this year’s market leader would retain its position. The Wall Street firm has a Buy rating on the stock.

fedex — Shares rose 0.5% before the opening bell. Susquehanna upgraded the carrier from neutral to positive, saying the long-term opportunities outweigh the short-term risks.

chub — Shares fell 1.5% after JPMorgan downgraded Chubb Limited to neutral from overweight, saying neither the commercial lines market nor the stock’s valuation was very attractive.

— CNBC’s Michelle Fox, Lisa Han and Jesse Pound contributed reporting.

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