Companies making headlines before the bell include electric vehicle startup Fisker, which saw a drop of more than 18% after missing third-quarter earnings forecasts and reporting light vehicle deliveries. However, the company noted that the pace of vehicle deliveries accelerated near the end of the quarter.
Food and beverage giant Kraft Heinz added 1.6% in premarket trading after Bernstein upgraded the stock to outperform from market perform. The firm believes Kraft Heinz is better-positioned in an anti-obesity drug backdrop due to its “protein-forward portfolio” in the U.S. and its cheap valuation.
Biotechnology stock Vistagen Therapeutics popped 2.6% after Stifel initiated coverage with a buy rating and a $12 price target, implying more than 300% upside from Monday’s close. The investment bank sees a large market opportunity for Vistagen’s anxiety treatment.
Home improvement retail stock Home Depot gained nearly 1% after posting third-quarter earnings and revenue that beat expectations. However, share gains were muted as the company’s quarterly sales declined 3% from the year-ago period and it issued tepid full-year guidance.
On Holding, the sports footwear and apparel maker, saw its shares plunge 9% despite reporting a beat on earnings and revenue and raising its net sales outlook for the full year. The company also noted that it reached its highest gross profit margin since its IPO two years ago.
Video game company Take-Two Interactive Software added 2.2% following an upgrade from Deutsche Bank, which raised Take-Two to buy from hold and increased its price target. The firm cited the company’s robust development pipeline throughout fiscal years 2025 and 2026.
CNBC’s Jesse Pound, Brian Evans, and Michelle Fox Theobald contributed reporting to this article.
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