The all-electric GT Fisker Ronin four-door convertible was unveiled during the inaugural Product Vision Day in Huntington Beach, California, on August 3, 2023.
Frederick J. Brown | AFP | Getty Images
Check out the companies making headlines before the bell.
Fisker – Shares of the vehicle development company rose 4.1% pre-market after Bank of America restored coverage with a buy rating. Bank of America said Fisker offers investors “full exposure to the fast-growing electric vehicle market” and that it has a less risky business model compared to its electric vehicle peers. Fisker also said he plans to do so Intensifying delivery operations From its ocean vessel to 300 per day.
Tesla Tesla shares fell 1% before the market open amid news that the European Union will investigate the electric car maker over its exports to China.
Barclays – Barclays shares rose 2% after Morgan Stanley upgraded the British bank to overweight from equal weight, citing growth in its credit card business and an improving outlook for investment banking.
Kings Project – The sports betting stock jumped 3% before the bell after JPMorgan upgraded DraftKings to overweight from neutral, saying recent weak performance creates an attractive entry point for investors.
Thor Industries – Shares of the recreational vehicle company fell 3% pre-market after it warned that it expects net sales to decline next year. For the just-ended quarter, Thor reported earnings of $1.68 per share on revenue of $2.74 billion. Analysts surveyed by LSEG were looking for 96 cents of earnings per share on $2.42 billion in revenue. Thor had outperformed so far this year when the report began, rising 26% year-to-date through Monday.
United Natural Foods – Shares sank 17% before the open. United Natural Foods expects next year’s earnings per share and adjusted EBITDA below analyst estimates, citing profitability headwinds, and fiscal fourth-quarter revenue that beat analyst estimates of $7.47 billion, according to StreetAccount.
— CNBC’s Jesse Pound and Pia Singh contributed reporting
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