Before the bell, look at the businesses grabbing attention.
Chinese electric vehicle manufacturer Xpeng saw a 5% increase in its premarket price on Monday. Didi’s smart electric car division would be acquired by Xpeng in a $744 million transaction, it was reported.
3M — Shares increased more than 5% following a Bloomberg News report that the business has tentatively agreed to settle more than 330,000 claims involving its allegedly defective earplugs. The story states that the company will fork up more than $5.5 billion as part of the deal.
Mister Car Wash – The stock of the car wash increased 5.7% in premarket trading after Piper Sandler upgraded it from neutral to overweight. Over the next two years, Mister Car Wash has potential growth, according to the company.
CrowdStrike: After Morgan Stanley downgraded the cybersecurity firm from overweight to equal weight, shares of CrowdStrike slid 2.6% in premarket trade. In a note to investors, the investment company issued a warning that Crowdstrike’s upcoming earnings report may reveal slower revenue growth in the future.
Akero Therapuetics — After UBS initiated Akero with a buy rating and a price target that suggests significant increases in the future, the biotech company’s shares increased by 2.2%. According to UBS, the company’s non-alcoholic steatohepatitis medication might open up a $20 billion market that is now underutilized.
Source (CNBC)
