Check out the companies that are making news.
Beyond Meat surged 9% in premarket trading after it was announced that the company's fried chicken substitute will be rolled out nationwide starting Monday.
Pfizer shares gained 1.5% in the premarket after Bank of America upgraded the drug maker to a buy. The factors that led to the upgrade include the roll out of the oral Covid-19 pill Paxlovid. Pfizer and BioNTech signed a new collaboration agreement to develop a shingles vaccine. BioNTech rose.
USA Truck announced a deal to buy 10 electric Nikola trucks. According to a federal court filing in San Francisco, a $2 billion patent lawsuit has been dropped by the inventor. The electric car maker sued its rival, accusing it of copying several of its designs.
Daily Journal Corp. has nearly doubled its stake in the Chinese e- commerce giant. Charlie Munger is the chairman of Daily Journal. The premarket was down 1%.
At the Consumer Electronics Show in Las Vegas, Sony displayed a prototype sport utility vehicle, which was an electric vehicle unit. The premarket was up 4.2%.
The office furniture maker's stock fell in premarket action after a weaker-than- expected quarterly report. MillerKnoll earned an adjusted 51 cents per share, 6 cents below estimates, with revenue also below Wall Street forecasts. The company was hurt by supply chain and labor disruptions.
According to the firm, the high quality of its financials and a favorable business environment are some of the factors that led to the upgrade of the company to buy from hold. The company added 1.2% in premarket trading.
The software maker slid 2% in the premarket after it was cut to neutral from buy by the firm after they spoke with more than a dozen IT executives about their spending plans. More spending was pulled forward into 2020 and 2021.
The image-sharing site's stock added 1.7% in premarket trading after it was upgraded to "overweight" from "neutral". The recent sell-off in the stock presents a good buying opportunity, with user trends improving and a stable mobile user base.
