Stocks making the biggest moves premarket: Palantir, PepsiCo, Rivian and more

Stock Market

In this article

Palantir headquarters in Palo Alto, California, May 10, 2023.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in premarket trading.

Palantir Technologies — Shares of the data analytics company added 2.3% on news that the U.S. Army awarded the company a $250 million contract to test and develop artificial intelligence and machine learning.

Unity Software — The game engine stock surged nearly 6% after the company said CEO John Riccitiello would retire. Unity said James M. Whitehurst would assume the interim chief role.

Rivian Automotive — Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian to buy from neutral. The investment firm said Rivian’s fundamentals are improving and that the stock has upside after a recent $1.5 billion capital raise sparked a sell-off.

PepsiCo — Shares of the beverage giant added roughly 1% after a third-quarter earnings beat. The company reported an adjusted $2.25 per share on $23.45 billion in revenue, while analysts polled by LSEG forecast an adjusted $2.15 and $23.39 billion.

Ameris Bancorp — Shares rose about 1% after DA Davidson upgraded Ameris Bancorp to buy from neutral, saying the company is “uniquely insulated” from unrealized losses connected to higher interest rates.

Arm Holdings — The semiconductor stock climbed about 2% a day after several analysts initiated bullish coverage of the stock, including JPMorgan, Deutsche Bank and Goldman Sachs.

Akero Therapeutics — The biotech company’s shares plummeted more than 63% after it reported initial trial data related to a Phase 2B study of cirrhosis drug efruxifermin.

— CNBC’s Jesse Pound and Sarah Min contributed reporting.

Articles You May Like

Alexander real estate brothers, sibling raped ‘dozens of victims,’ federal indictment alleges
California’s ESG fund takes aim at state’s wildfire scourge
A Florida ‘condo cliff’ is coming as owners deal with fallout from 2021 Surfside collapse
5 housing market predictions for 2025, according to economists
If Trump wants to kill inflation, the first thing he needs to do is get more homes built