Rivian, Ford Shares Slide Premarket; Toast, Fortinet Rise
By Scott Kanowsky
Investing.com -- Stocks in focus in premarket trade on Monday, October 10th. Please refresh for updates.
- Rivian Automotive Inc (NASDAQ: RIVN) shares slumped after the electric carmaker told customers that it will recall 13,000 vehicles, citing a loose fastener.
- Tesla Inc (NASDAQ: TSLA) shares were largely flat after the electric vehicle maker posted a record amount of monthly sales of China-made cars in September.
- Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) shares dropped after UBS downgraded its ratings for both of the U.S. carmakers.
- Merck&Company Inc (NYSE: MRK) stock rose after analysts at Guggenheim upgraded their rating of the pharmaceutical company.
- Toast Inc (NYSE: TOST) shares jumped after analysts at Mizuho upgraded their rating of the restaurant management software firm to "Buy" from "Neutral."
- Fortinet Inc (NASDAQ: FTNT) shares moved higher after analysts at Morgan Stanley upgraded their rating of the cybersecurity solutions business to "Overweight" from "Equal-weight" and raised its price target.