Check out the companies making headlines in premarket trading:
United States Steel — Shares advanced more than 3% after Reuters reported that the Committee on Foreign Investment in the United States granted a request to postpone the review of Nippon Steel’s bid for U.S. Steel until after the November election. Reuters cited an unnamed source familiar with the matter.
General Mills — Shares fell 1% after the packaged foods company reported a 14% drop in profit for the last quarter, attributed to lower margins resulting from higher input costs.
Casella Waste Systems — Shares of the recycling company declined more than 4% after it announced plans for a $400 million equity offering of its Class A common stock.
Intuitive Machines — Shares of the space exploration company soared more than 52% after receiving a nearly $5 billion contract for a space network from NASA.
ResMed — Shares slipped 2.7% on light trading volume following a downgrade at Wolfe Research, which changed its rating to “underperform” from “peer perform.” The firm anticipates revenue growth to decelerate due to increasing competition from Eli Lilly’s GLP-1 medication.
V.F. Corp — Shares jumped 3% after Barclays upgraded V.F. Corp to “overweight” from “equal weight,” stating that the risk-return profile for the apparel company behind The North Face and Vans is attractive, despite the stock being down 2% this year.
Source (CNBC)
