Stocks making the biggest moves premarket: Levi Strauss, Intuitive Machines, Wayfair and more

Here’s a glance at the companies making waves before market open.

Hertz Global— The car hire company’s stock declined by almost 5% following Goldman Sachs’ downgrade from neutral to sell. The reason, according to Analyst Lizzie Dove, is pending pressure which investors haven’t fully accounted for.

Block

— A downgrade from Morgan Stanley led to a dip by 3% in the shares of this financial service platform. The firm cited “high market penetration and limited additional opportunity” as basis for the downgrade from equal-weight to underweight.

Zeta Global

— Thanks to an upgrade from Morgan Stanley, the software company’s stock surged by 5%. The bank projects a positive shift in valuation and estimates, prompted by Zeta’s immediate catalysts and consistent adherence to careful guidance.

Wayfair

— This e-commerce retail company specialising in home furnishings saw a nearly 5% rise in shares following an upgrade from in line to outperform by Evercore ISI. The firm believes Wayfair can capture more market share in the resurging home decor space.

Levi Strauss

— The clothing company saw an 8% leap in shares after exceeding first-quarter forecasts on both revenue and profits, while also raising its full-year profit forecast. The company reported earnings of 26 cents per share on $1.56 billion in revenue, bypassing the expected 21 cents and $1.55 billion projected by LSEG analysts.

Conagra Brands

— The food company’s shares increased over 4% after posting a fiscal third-quarter revenue and earnings beat. Conagra reported earnings of 69 cents per share on revenue of $3.03 billion, surpassing FactSet’s forecast of 65 cents per share on revenue of $3.01 billion.

Lamb Weston

— Shares increased nearly 1% in anticipation of the french-fry producer’s latest quarterly results. FactSet analysts predict a third-quarter revenue of $1.65 billion.

Intuitive Machines

— The space company’s stock skyrocketed by nearly 11% after securing a $30 million NASA contract to construct a lunar terrain vehicle. This rover will be a part of NASA’s Artemis moon exploration campaign.

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Stocks making the biggest moves premarket: Levi Strauss, Intuitive Machines, Wayfair and more

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