Stocks making the biggest moves premarket: Delta Air Lines, CVS Health, Nike and more

These are the buzzworthy businesses in the news as markets open.

Delta Air Lines’ shares took a tumble by 5%, a reaction to not so favorable Q4 revenue predictions. The company shared that they anticipate only a 2-4% rise in revenue, contrary to the 4.1% projected by LSEG. Their third-quarter earnings and revenue also did not meet the mark.

10x Genomics’ stock also experienced a drop-off, with shares declining by roughly 26%. The global leader in single-cell genomics anticipates a Q3 revenue of $151.7 million, a slight dip of 1% from the previous year’s same quarter. The CEO admits that the restructuring of the company’s commercial processes and organization brought more disruptions than expected, particularly in the Americas.

CVS Health shares, on the other hand, saw a 1.9% increase, riding the wave of an upgrade from equal weight to overweight by Barclays, due to a potential “compelling margin recovery opportunity” for CVS.

GXO Logistics, rumored to be considering a sale, saw their shares increase by 12%. However, the company has not yet confirmed the potential transaction.

Celsius Holdings’ shares escalated around 5%, an extension of the 6% increases witnessed in the previous session. This is due to findings from Piper Sandler’s latest teen survey, indicating that Celsius is excelling in the energy drink market.

Tesla shares made modest gains of 1% with investors eagerly awaiting the company’s robotaxi event. The company is anticipated to reveal a prototype of a Cybercab robotaxi as well as advancements in driver assistance and artificial intelligence.

Nike’s shares nudged 1.5% towards the positive direction following an upgrade to buy from Truist. Near-term efforts and potential long-term prospects have anticipated “better times ahead” for the athletic apparel retailer.

Medtronic shares edged up by 1% after an upgrade to outperform from RBC Capital Markets, signaling a “renewed sense of confidence” in the medical device organization.

American International Group’s shares also moved up by approximately 1% on the back of an upgrade to overweight from JPMorgan due to “more reasonable” EPS predictions and improved valuation.

However, PayPal’s shares fell by 1.7% after Bernstein downgraded the stock to market perform. Bernstein suggests that PayPal’s upside potential may be uncertain after a recent stock rally of nearly 40% in the last three months.