Rivian, Poshmark, Tesla Rise Premarket; Kalvista Pharmceuticals Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, October 4th. Please refresh for updates.
Rivian Automotive (NASDAQ: RIVN) stock rose 8.7% after the electric vehicle manufacturer reported third-quarter deliveries that were in line with its expectations and said it was on track to meet its annual production guidance.
- Poshmark (NASDAQ: POSH) stock rose 13% after the South Korean e-commerce company Naver announced the $1.2 billion purchase of the fashion resale platform.
Apple (NASDAQ: AAPL) stock rose 1.9% after Foxconn, the world's largest contract electronics maker and a major supplier to the iPhone maker, said it was "cautiously optimistic" about its fourth-quarter revenue outlook after reporting record-breaking September sales.
Tesla (NASDAQ: TSLA) stock rose 3.2%, rebounding from its steepest selloff in four months in the wake of disappointing quarterly vehicle deliveries.
Gilead Sciences (NASDAQ: GILD) stock rose 3.3% after JPMorgan upgraded its stance on the pharma company to ‘overweight’ from ‘neutral’, saying the undervalued stock can rally nearly 30%.
Domino’s Pizza (NYSE: DPZ) stock rose 2.9% after UBS upgraded its stance on the pizza chain to ‘buy’ from ‘neutral’, saying demand slowdown concerns are overblown.
- Kalvista Pharmaceuticals (NASDAQ: KALV) stock slumped 46% after the drugmaker said it had ended a mid-stage study for its drug to prevent recurrent swelling attacks in people with hereditary angioedema, due to safety concerns.
- Bank of America (NYSE: BAC) stock rose 1.8% after the lender announced plans to invest $100 million in banks that focus on minority communities, taking equity stakes of less than 5% of each lender.
HSBC (NYSE: HSBC) ADRs rose 4.2% after the U.K. bank announced that it’s considering selling its Canada business, one of the biggest international banking brands in the country.