KVUE, RIVN, AFRM, SEDG and more
Check out the companies making headlines in premarket trading. Kenvue — The Neutrogena-maker jumped 4.5% after the company said its CEO Thibaut Mongon has stepped down . Kenvue said its board is conducting a strategic review of the company and is considering a range of possible alternatives, such as simplifying the company’s portfolio. nCino — The financial technology provider gained nearly 5% following an upgrade to outperform at Baird , with analyst Joe Vruwink citing an upbeat outlook from company management highlighting a potential boon from recent initiatives. Rivian Automotive — The electric vehicle company pulled back 1.3%. Guggenheim downgraded Rivian to neutral from buy in a Monday note, with analyst Ronald Jewsikow pointing to the likelihood of softer long-term sales of its R2 and R3 vehicles. SolarEdge Technologies — Shares rose nearly 2% after Barclays upgraded SolarEdge to equal weight from underweight. The bank said that despite the anticipation that the overall market will shrink in 2026, SolarEdge is poised to grow both this year and next. Bitcoin miners — Bitcoin mining stocks all advanced early Monday after the largest cryptocurrency by market capitalization reached an all-time high above $120,000. Shares of Riot Platforms , CleanSpark and MARA Holdings all rose 3% or more. Synopsys , ANSYS — Shares of semiconductor design company Synopsys added roughly 4% after Chinese regulators conditionally approved its purchase of ANSYS for $35 billion. ANSYS surged 6%. Affirm — Shares fell 2.5% after BTIG downgraded the buy-now-pay-later company to neutral from buy, saying that a loosening of underwriting from prime lenders such as Capital One and Synchrony will hurt fintechs such as Affirm. Fastenal — Shares gained 3% after second-quarter earnings surpassed analyst estimates. The industrial supply company earned 29 cents per share, while analysts polled by FactSet were looking for 28 cents. — CNBC’s Michelle Fox, Sean Conlon and Sarah Min contributed reporting.
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