Before the bell, see which firms are in the news.
Rivian Motors — After Rivian Automotive, an electric vehicle business, received up to $5 billion in capital from Volkswagen Group, its shares surged by more than 40%.
FedEx – FedEx’s shares surged 14% following impressive fiscal fourth-quarter outcomes. The shipping giant announced a 16% increase in capital spending from fiscal year 2023 as its cost-cutting efforts take effect, exceeding Wall Street’s projections on both the top and bottom lines.
Whirlpool: Following a Reuters report stating that Bosch is purportedly considering making a bid for the home appliance manufacturer, Whirlpool’s stock increased by over 18%.
Southwest Airlines – As a result of a change in booking patterns, the airline reduced its revenue projection for the second quarter, sending its shares plunging 3%.
The corporation had previously projected a 1.5% to 3.5% decline. Before the bell on Friday, General Mills, a consumer foods firm, had a 4% decline uneven quarterly outcomes.
Nvidia: Following an almost 7% increase on Tuesday, the chip stock saw an increase of over 2%. Before the upswing, Nvidia had a three-day losing run.
Aptiv — The automotive technology company fell 7% after Piper Sandler downgraded it to underweight from neutral and lowered its price target.
Campbell Soup — The processed food company’s stock rose 1% after JPMorgan upgraded it to overweight, the first time since 2009. Analyst Ken Goldman highlighted “excellent demand” and high long-term margins as reasons for the increase.
United States Steel — The steelmaker’s stock gained 2% after BMO upgraded it to outperform from market perform Capital Markets. Even though its planned sale to Nippon Steel is in doubt, the investment group believes U.S. Steel is cheap.
Micron Technology – The memory chipmaker increased by roughly 3% ahead of its quarterly earnings after the bell.
Source (CNBC)
