Stocks making the biggest moves premarket: Rivian, Clorox, Vestis, Chevron

See which companies are making headlines in premarket trading.

Rivian — Shares of the electric car maker plunged 8.7% after Rivian announced the sale of $1.5 billion in convertible notes and issued disappointing guidance for the third quarter. The company expects revenue to be between $1.29 billion and $1.31 billion, while analysts polled by StreetAccount had expected $1.31 billion. Rivian also reported a decrease in cash and short-term investments between the end of the second and third quarters.

Energy stocks — stocks of oil companies Occidental Petroleum, chevron and ExxonMobil Crude oil prices were all lower in pre-market trading, adding to Wednesday’s sharp decline. Occidental fell 0.4%, while Chevron and Exxon Mobil both fell about 1%.

clorox — Shares fell 4.4% in premarket trading Thursday, a day after the product maker gave weaker guidance for its fiscal first quarter than analysts had expected. The company also said cyberattacks outweigh the benefits of pricing, cost savings and supply chain improvements. Following his guidance, Raymond James downgraded the stock from outperform to market perform.

UWM Holdings — Shares of the mortgage company rose 4.3% in pre-market trading following a BTIG upgrade to buy from neutral. BTIG said United Wholesale Mortgage’s valuation of its parent company does not reflect the upside from potential interest rate stabilization.

orchard remedy — Gene therapy stocks soared more than 98% on news that the company would be acquired by Japanese pharmaceutical company Kyowa Kirin for $478 million.

dress — Shares of the uniform company rose 2.4% after Redburn Atlantic launched coverage with a buy rating on the company. Analyst Oliver Davies pointed to limited decline in value and predicted a 75% upside. Vestis completed its spinoff from Aramark on Monday.

— CNBC’s Alex Harring, Pia Singh and Jesse Pound contributed reporting.