Stocks making the biggest moves premarket: Levi Strauss, Intuitive Machines, Wayfair and more
Check out the companies making headlines before the bell. Hertz Global — The car rental stock slid nearly 5% following a downgrade to sell from neutral at Goldman Sachs. Analyst Lizzie Dove believes that investors have yet to fully price in some near-term pressures. Block — Shares of the financial services platform slipped 3% following a downgrade to underweight from equal-weight at Morgan Stanley. The firm cited “high market penetration and limited additional opportunity” as reasons for the change. Zeta Global — The stock popped 5% after Morgan Stanley upgraded the software firm to an overweight rating from equal-weight. The bank expects positive revisions to valuation and estimates going forward, citing Zeta’s near-term catalysts and “strong track record” of prudent guidance. Wayfair — The home-focused e-commerce retailer rose nearly 5% following an Evercore ISI upgrade to outperform from in line. The firm said Wayfair can gain market share amid a recovery in the home furnishing space. Levi Strauss — The company saw shares jump 8% after it topped first-quarter expectations on the top and bottom lines and lifted its full-year profit guidance. For the period, the retailer posted adjusted earnings of 26 cents per share on $1.56 billion in revenue. That surpassed the 21 cents and $1.55 billion expected by analysts polled by LSEG. Conagra Brands — Shares added more than 4% after the consumer packaged goods food company posted a fiscal third-quarter earnings and revenue beat. Conagra reported earnings of 69 cents per share on revenue of $3.03 billion, exceeding FactSet’s estimates of 65 cents per share on revenue of $3.01 billion. Lamb Weston — Shares rose nearly 1% ahead of the french-fry producer’s latest quarterly results. Analysts polled by FactSet anticipate third-quarter revenue of $1.65 billion. Intuitive Machines — The space stock soared nearly 11% after Intuitive won a NASA contract for $30 million to build a lunar terrain vehicle. The rover will be part of NASA’s Artemis moon exploration campaign. — CNBC’s Alex Haring, Sarah Min and Samantha Subin contributed reporting. This post has been syndicated from a third-party source. View the original article here.
