Stocks making the biggest moves premarket: Ford, Target, Walgreens, Domino’s Pizza, First Solar and more

Posted By: EN Todayon: October 12, 2023In: Renewable Energy News

Check out the companies making headlines in premarket trading. Ford — Shares of the automaker slipped 2.3% after the United Auto Workers union expanded its strike to target Ford’s SUV and pickup truck facility in Kentucky, which is the company’s largest facility measured by both revenue and workforce. Target — The retailer rose 2.8% after Bank of America upgraded Target to buy from neutral. The bank said Target’s stock looks attractive after a recent slide and that the company’s margins could improve in the year ahead. Walgreens Boots Alliance — Shares of the retail pharmacy giant fell nearly 3% after the company missed earnings estimates for the fiscal fourth quarter, as demand for Covid vaccines and tests plummets in the U.S. Walgreens also offered soft profit guidance for the full year. Delta Air Lines — The airline traded more than 3.4% higher after Delta delivered third-quarter earnings that beat analyst expectations. The company earned an adjusted $2.03 per share, exceeding an LSEG estimate of $1.95 per share. Its bottom line that was 60% higher from the year-earlier period thanks to strong travel demand. ResMed — The medtech device stock slipped 2% after a downgrade by RBC Capital Markets to sector perform from outperform. The firm thinks the backlog of sleep apnea devices has been addressed and ResMed’s revenue is likely to decline between 2024 and 2026. ResMed also faces short-term fears over the impact of GLP-1 drugs, although RBC thinks they will only have a modest impact on ResMed’s business. Plug Power — The battery stock added 1.2% after JPMorgan added the company to its positive catalyst watchlist, and highlighted potential near-term upside. First Solar — Stock in the solar panel maker added nearly 4% following an upgrade to overweight from Barclays, with analyst Christine Cho highlighting an attractive valuation. Warby Parker — Shares of the eyewear retailer ticked up nearly 3% after an upgrade to buy from BTIG. Analyst Janine Stichter said the stock presents a “significant untapped opportunity” and added the company “has the right playbook in place.” Domino’s Pizza — Shares of the pizza delivery company slipped more than 3% on mixed third-quarter results. Domino’s earnings came in above expectations, but revenue was slightly below estimates. Coursera — The online course provider gained more than 2% after BMO Capital Markets initiated coverage of the company with an outperform rating. The firm said Coursea’s “robust revenue growth” will “continue through its flywheel approach.” — CNBC’s Jesse Pound, Michelle Fox, Pia Singh and Yun Li contributed reporting