Before the bell, take a look at the businesses that are in the news.
Delta Air Lines: After the airline issued dismal sales guidance for the fourth quarter, shares of the company dropped by about 5%. Less than the 4.1% prediction, Delta expects revenue to increase by 2% to 4% from a year ago.
10x Genomics: After the leader in the single-cell market revealed that its sales for the third quarter is expected to reach $151.7 million, a 1% fall from the same period last year, the company’s shares experienced a roughly 26% decline.
On the strength of Barclays’ upgrade to overweight from equal weight, shares of the pharmaceutical company CVS Health increased 1.9%.
GXO Logistics: Following Bloomberg’s article, which was based on the statements of persons familiar with the company, indicating that it is considering a possible sale, the shares surged by 12%.
Celsius Holdings – The stock increased by almost 5%, building on the gains of over 6% from the previous trading session. Celsius is outperforming other energy drinks. To be more precise, the investment firm observed that the brand receives approximately 35% more mentions as a favourite than its total market share.
Tesla: Ahead of its robotaxi event on Thursday after the bell, the electric vehicle manufacturer’s stock increased by more than 1%. Investors anticipate hearing about new developments in artificial intelligence and driver assistance technologies, as well as the unveiling of a Cybercab robotaxi prototype.
Following a Truist upgrade to buy from hold, Nike’s stock increased by 1.5%. While the company acknowledged that Nike’s “fundamental recovery remains a long-term prospect,” it said that the sports clothing retailer should persuade investors that “better times ahead” are ahead with certain near-term initiatives like increased marketing and strengthened wholesale connections from the new management.
Medtronic’s stock increased 1% following RBC Capital Markets’ upgrade of the medical equipment company to outperform from sector perform, citing a “renewed sense of confidence” in the business.
American International Group: Following an upgrade to overweight from neutral at JPMorgan, the stock of this massive insurance company rose by almost 1%. Based on “more reasonable” consensus EPS expectations and a “better” value as a result of underperformance, the firm is positive.
PayPal: Following Bernstein’s reduction of the stock from outperform to market perform, the payments company saw a 1.7% decline in value. PayPal’s upside is uncertain going forward, despite a recent surge that has seen the company increase about 40% over the previous three months.
Source (CNBC)
