Stocks making the biggest moves premarket: Keurig Dr Pepper, CSX, Li Auto and more

Stock Market

In this article

Check out the companies making headlines before the bell:

Keurig Dr Pepper — The consumer stock fell 1.5% premarket after Goldman Sachs downgraded the stock to neutral from a buy rating. The Wall Street firm said it sees increased risk to Keurig’s margins as commodity inflation, especially related to coffee, remains elevated.

Lucid Group — Shares of the electric vehicle player jumped 2.7% in premarket trading after Cantor Fitzgerald initiated coverage with an overweight rating. The firm said Lucid’s luxury and premium vehicles provide greater efficiency, longer range, faster charging and more space relative to its peers.

Norfolk Southern, CSX — Shares of the railroad companies declined more than 1% each after UBS downgraded the duo, citing a deteriorating macro backdrop. The Wall Street firm said it will be hard for Norfolk and CSX to achieve the consensus 25% volume growth going forward.

Li Auto — Shares of the Chinese EV maker edged up 0.5% premarket, even after the company cut its third-quarter delivery guidance by 2,500 vehicles or 9%. The company said the downward revision was due to supply chain constraints.

Amazon, Apple, Microsoft — Big Tech names Amazon, Apple, Alphabet and Microsoft all traded at least 1% higher premarket, a possible rebound from Monday’s sell-off. Treasury yields retreated Tuesday morning after the multi-year highs hit in the previous session put pressure on tech names.

Articles You May Like

How Atlanta’s growing economy burned low-income renters and homebuyers
Crypto Lender Blockfi Files for Bankruptcy Protection to ‘Maximize Value for All Clients’
21 Unique Holiday Gifts For The Home To Give To Everyone On Your List
Defying forecasts, crude oil prices have wiped out most of this year’s gains and could head lower
Hawaii’s fiscal 2023 funded project list released by Gov. David Ige