Applied Digital, Mosaic Levi Strauss & more
Check out the companies making headlines before the opening bell : Applied Digital — Shares surged 30% after the datacenter builder reported that revenue in its fiscal first quarter was up 84% from the comparable period in the prior year. Stellantis — The French-Italian-American automaker reported a 13% rise in third-quarter shipments, prompting shares to gain 1.3% in premarket trading. The jump in shipments was led by new models and North American demand, in a sign of business recovery after several quarters of declining sales. Synchrony Financial — The financial services stock added1% on the back of HSBC’s upgrade to buy from hold. HSBC called the stock a preferred choice within the consumer finance space. Alibaba — The Chinese e-commerce giant’s stock fell nearly 2% in a broad sell-off in China overnight. The stock is on track for its sixth negative session in a row. Doximity — The medical digital platform saw shares tumbling nearly 5% after JPMorgan downgraded the stock to underweight from neutral. The Wall Street firm noted valuation concerns, a competitive landscape and risks to ad spending on digital pharma products. Mosaic — The chemical stock dropped more than 9% after the firm reported disappointing preliminary third-quarter volumes. Mosaic said it experienced unexpected mechanical issues at the Riverview sulfuric acid plant and utility interruptions at Bartow in mid-September, which caused a meaningful decline in overall production for the remainder of the month. Levi Strauss — The denim apparel maker fell more than 7% after it issued weaker-than-expected earnings guidance for the fourth quarter. Levi Strauss sees Q4 earnings in a range of 36 cents per share to 38 cents per share. Analysts polled by FactSet had penciled in a forecast for 41 cents per share. — CNBC’s Fred Imbert, Alex Harring and Sarah Min contributed reporting.
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