See which businesses are making news before the bell.
Shares of the automaker Fisker jumped 4.1% before the market opened as a result of Bank of America resuming coverage with a buy rating. According to BofA, Fisker has a lower-risk business strategy than its EV peers and provides investors with “pure-play exposure to the fast increasing EV sector.” Fisker also announced that it would increase Ocean car deliveries to 300 per day.
Before the market opened, shares of Tesla fell 1% on reports that the European Union would be looking into the electric vehicle manufacturer’s shipments to China.
DraftKings — Before the market opened, the sports betting stock increased by 3% after JPMorgan upgraded it from neutral to overweight, claiming that the recent underperformance offers investors a compelling entry point.
Thor Industries: The recreational vehicle manufacturer warned that it anticipates a drop in net sales in the upcoming year, and shares of the business fell 3% in premarket trading. Thor reported $2.74 billion in revenue and $1.68 in profits per share for the most recent quarter.
Shares of United Natural Foods dropped 17% before the market opened. According to StreetAccount, United Natural Foods predicted earnings per share and adjusted EBITDA for the upcoming year below analysts’ expectations due to profitability challenges and fiscal fourth quarter revenue that fell short of the $7.47 billion estimate.
Source (CNBC)
