Take a look astatine immoderate of the biggest movers successful the premarket:
Ford (F), General Motors (GM) – UBS downgraded some automakers, cutting Ford to "sell" from "neutral" and downgrading GM to "neutral" from "buy." UBS said the car manufacture is rapidly moving toward conveyance oversupply pursuing 3 years of unprecedented pricing power. Ford slid 3.6% successful the premarket portion GM fell 3.5%.
Rivian (RIVN) – Rivian shares tumbled 9% successful the premarket aft it recalled astir each its vehicles to hole imaginable steering issues. The electrical car and motortruck shaper said nary injuries person been reported arsenic a effect of the problem.
Toast (TOST) – Mizuho upgraded the restaurant-focused exertion level supplier to "buy" from "neutral," saying its probe puts the nett and income imaginable from Toast's services successful focus. Toast rallied 3.3% successful the premarket.
Tesla (TSLA) – Tesla delivered much than 83,000 vehicles from its Shanghai mill past month, up 8% from August and its highest-ever monthly full for the precocious upgraded plant. Tesla mislaid crushed successful premarket trading, however, aft RBC chopped its terms people connected the banal to $340 per stock from $367 a share.
Stellantis (STLA) – Stellantis signed a nickel and cobalt proviso statement with Australian mining institution GME Resources, arsenic it moves to unafraid cardinal components for electrical conveyance batteries. The automaker had signed a lithium proviso statement earlier this twelvemonth with Australia's Vulcan Resources.
Kraft Heinz (KHC) – Kraft Heinz roseate 2% successful premarket enactment aft Goldman Sachs upgraded the nutrient maker's banal to "buy" from "neutral." Goldman said Kraft Heinz is 1 of the fewer user staples stocks wherever the imaginable of higher nett margins is not yet afloat priced into the stock.
Procter & Gamble (PG) – P&G shares declined 1.3% successful premarket trading, pursuing a Goldman Sachs downgrade of the user products giant's shares to "neutral" from "buy." Goldman's updated presumption reflects valuation concerns and imaginable marketplace stock headwinds.
Merck (MRK) – Merck roseate 2.7% successful the premarket aft Guggenheim upgraded the banal to "buy" from "neutral." The steadfast said the drugmaker is poised to bushed nett statement connected bully maturation prospects for cardinal products, among different factors.