Stocks making the biggest moves premarket: Delta Air Lines, CVS Health, Nike and more
Check out the companies making headlines before the bell: Delta Air Lines — Shares fell nearly 5% after the airliner provided disappointing fourth-quarter revenue guidance . Delta anticipates revenue will rise between 2% and 4% from a year earlier, less than the 4.1% estimate, per LSEG. Third-quarter earnings per share and revenue also came in below expectations. 10x Genomics — Shares fell around 26% after the single-cell market leader announced it expects third-quarter revenue to come in at $151.7 million , which is about a 1% decrease from the same period a year ago. CEO Serge Saxonov said the transition the company experienced due to recent changes to its commercial processes and organization was “more disruptive than we anticipated, especially in the Americas.” CVS Health — Shares of the pharmacy chain added 1.9% on the back of an upgrade to overweight from equal weight by Barclays. The firm said there is a “compelling margin recovery opportunity” for CVS. GXO Logistics — The stock popped 12% after Bloomberg, citing people familiar with the matter, reported that the company is exploring a potential sale . While Bloomberg sources said GXO Logistics is working with financial advisors, a final decision has not been made. Celsius Holdings — Shares jumped around 5%, extending the more than 6% in gains seen in the previous session. On Wednesday, Piper Sandler released its latest survey among teens, which showed that Celsius is outperforming in energy drinks. Specifically, the investment firm noted that the brand’s share of mentions as a favorite is about 35% more than its overall market share. Tesla — The electric vehicle maker’s stock gained more than 1% ahead of its robotaxi event Thursday after the bell. Investors expect Tesla to unveil a Cybercab robotaxi prototype as well as announce advancements in driver assistance features and artificial intelligence capabilities. Nike — Shares edged 1.5% higher on the heels of a Truist upgrade to buy from hold. The firm said Nike’s “fundamental recovery remains a long-term prospect” but that some near-term efforts, such as more marketing and improving wholesale relationships, from new management should convince investors of “better times ahead” for the athletic apparel retailer. Medtronic — Shares gained 1% after RBC Capital Markets upgraded Medtronic to outperform from sector perform, saying there is a “renewed sense of confidence” in the medical device company. American International Group — The insurance giant’s stock advanced around 1% after receiving an upgrade to overweight from neutral at JPMorgan. The firm’s bullish call is based on “more reasonable” consensus earnings per share forecasts and an “improved” valuation following underperformance. PayPal — The payments company fell 1.7% after Bernstein downgraded the stock to market perform from outperform. Bernstein said in a note to clients that PayPal’s upside is uncertain from here after a recent rally that has seen the stock rise nearly 40% over the past three months. — CNBC’s Alex Harring, Jesse Pound, Sarah Min, Pia Singh and Michelle Fox Theobald contributed reporting. This post has been syndicated from a third-party source. View the original article here.
