Here are some companies that made headlines in premarket trading:
- Roku: The streaming provider climbed 2% before the opening bell following its announcement of a partnership with Shopify to enable purchases directly from Roku TV.
- Beyond Meat: The plant-based meat alternative company saw a 2% increase in premarket trading. Beyond Meat recently announced the expansion of its steak product to approximately 14,000 stores across the U.S., including Whole Foods and Wegmans.
- SunPower: The solar power company soared nearly 6% in premarket trading after receiving an upgrade from Raymond James, which deemed the recent weakness in the stock as “excessive.”
- Carvana: The car retailer experienced a roughly 2% climb after an upgrade to “outperform” from JMP. Analyst Nicholas Jones noted that Carvana could be on the verge of a return to growth with “durable positive” EBITDA.
- Netflix: The streaming giant saw a 0.4% increase Wednesday morning after UBS raised its price target on Netflix to $525 per share, suggesting a potential upside of nearly 20%. Netflix is set to report its quarterly results on July 19.
- Holley Inc.: The auto parts company surged over 15% following an upgrade to “buy” from Bank of America. The upgrade cited improving sales momentum and better sourcing. JPMorgan Chase also upgraded the shares to “overweight” from “neutral.”
- Stellantis: The vehicle manufacturer gained 2% after receiving an upgrade to “buy” from Bank of America. The upgrade highlighted Stellantis’ potential advantages over peers due to its significant exposure to the U.S. market.
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