Stocks making the biggest moves premarket: Levi Strauss, Costco, Mattel
Levi Strauss & Co. A label is seen on jeans at the Woodbury Common Premium Outlet store in New York’s Central Valley on February 15, 2022.
Andrew Kelly | Reuters
See which companies are making headlines in premarket trading.
SiriusXM — Shares of the media company fell about 2% in premarket trading. A day earlier, Liberty Media proposed combining its Sirius XM tracking equipment with the radio company. A special committee of SiriusXM board members is currently reviewing this proposal.
Levi Strauss — The clothing maker rose 1.3% in premarket trading after TD Cowen initiated coverage of the stock with an outperform rating. TD Cowen said Levi’s was in the “early stages of a great denim cycle.”
costco — Despite Costco’s better-than-expected fiscal fourth quarter results, the club retailer’s shares fell more than 1%. The company generated revenue of $78.9 billion and earnings per share of $4.86. Analysts polled by LSEG, formerly known as Refinitiv, expected earnings of $4.79 per share on revenue of $77.9 billion. However, comparable sales in the U.S. increased only 0.2%.
charging point — The electric vehicle charging stock surged more than 4% after UBS gave ChargePoint a buy rating and said the stock’s recent performance creates attractive risk/reward.
XPO — The trucking company rose about 2% after an upgrade to outperform Evercore ISI. Analyst Jonathan Chappell predicted the company would see margin expansion and greater pricing power.
clear, Rivian — Electric vehicle company stock prices rose 2.1% and 2%, respectively. Both stocks rose a day earlier as a strike by the United Auto Workers intensified and gained support from President Joe Biden, who took part in a picket protest in Michigan.
Mattel — Shares of the toymaker rose 2.4% in premarket trading Wednesday after Morgan Stanley placed Mattel as its top recommendation, initiating the stock with an overweight rating. The company said Mattel offers the best risk-adjusted returns despite a difficult macroeconomic environment.
— CNBC’s Alex Harring, Jesse Pound, Samantha Subin and Pia Singh contributed reporting.
Correction: LSEG was previously known as Refinitiv. An earlier version misstated the company’s previous name.
