Stocks making the biggest moves premarket: Levi Strauss, Intuitive Machines, Wayfair and more
Here’s a glance at the companies making waves before market open.
Hertz Global— The car hire company’s stock declined by almost 5% following Goldman Sachs’ downgrade from neutral to sell. The reason, according to Analyst Lizzie Dove, is pending pressure which investors haven’t fully accounted for.
— A downgrade from Morgan Stanley led to a dip by 3% in the shares of this financial service platform. The firm cited “high market penetration and limited additional opportunity” as basis for the downgrade from equal-weight to underweight.
— Thanks to an upgrade from Morgan Stanley, the software company’s stock surged by 5%. The bank projects a positive shift in valuation and estimates, prompted by Zeta’s immediate catalysts and consistent adherence to careful guidance.
— This e-commerce retail company specialising in home furnishings saw a nearly 5% rise in shares following an upgrade from in line to outperform by Evercore ISI. The firm believes Wayfair can capture more market share in the resurging home decor space.
— The clothing company saw an 8% leap in shares after exceeding first-quarter forecasts on both revenue and profits, while also raising its full-year profit forecast. The company reported earnings of 26 cents per share on $1.56 billion in revenue, bypassing the expected 21 cents and $1.55 billion projected by LSEG analysts.
— The food company’s shares increased over 4% after posting a fiscal third-quarter revenue and earnings beat. Conagra reported earnings of 69 cents per share on revenue of $3.03 billion, surpassing FactSet’s forecast of 65 cents per share on revenue of $3.01 billion.
— Shares increased nearly 1% in anticipation of the french-fry producer’s latest quarterly results. FactSet analysts predict a third-quarter revenue of $1.65 billion.
— The space company’s stock skyrocketed by nearly 11% after securing a $30 million NASA contract to construct a lunar terrain vehicle. This rover will be a part of NASA’s Artemis moon exploration campaign.
