Stocks making the biggest moves premarket: Palantir, PepsiCo, Rivian

See which companies are making headlines in premarket trading.

Palantir Technologies — Shares of the data analytics company added 2.3% on news that the U.S. Army had awarded the company a $250 million contract to test and develop artificial intelligence and machine learning.

unity software — Shares of the game engine surged nearly 6% after the company announced that CEO John Riccitiello would retire. Unity said James M. Whitehurst will assume the interim chief role.

rivian cars — Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian from neutral to buy. The investment firm said Rivian’s fundamentals are improving and its stock price is likely to rise after its recent $1.5 billion capital raising prompted a selloff.

pepsico — Shares of the beverage giant rose about 1% after improving third-quarter results. The company reported adjusted earnings of $2.25 per share on revenue of $23.45 billion, while analysts surveyed by LSEG had forecast adjusted earnings of $2.15 billion and $23.39 billion.

Ameris Bankov — Shares rose about 1% after DA Davidson upgraded Ameris Bancorp from neutral to buy, saying the company was “uniquely protected” from unrealized losses related to higher interest rates.

Arm Holdings — The semiconductor stock rose about 2% on the day after several analysts including JPMorgan, Deutsche Bank and Goldman Sachs launched bullish reports on the stock.

Akero Therapeutics — Shares of the biotech company plunged more than 63% after reporting early trial data related to a Phase 2B study of its cirrhosis drug efruxifermin.

— CNBC’s Jesse Pound and Sarah Min contributed reporting.